Updated Dec 21, 2023
Jeong Sook Cho Acquires Office Building In Long Beach For $3.6M
980 Atlantic Avenue, Long Beach, California 90813, United States
$3,600,000
$344/SF
Building Size
10,456 SF
Asset Type
Office
Closing
May 4, 2022
About this deal
AI
Located at 980 Atlantic Ave. in Long Beach, this office property was recently sold in a transaction facilitated by Elizabeth Clark, Tenere Williams, Jay Martinez, and Michelle Cho. The buyers, Jeong Sook Cho, acquired the property from sellers Majid Saedifar and Luz Saedifar. The transaction was handled by Compass, Kidder Mathews, and Coldwell Banker. The sale price of $3,600,000 reflected a premium of $100,000 over the list price.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $3,600,000
- Address: 980 Atlantic Ave.
- Market: Long Beach
Jeong Sook Cho successfully purchased the office property at 980 Atlantic Ave. in Long Beach for a price of $3,600,000. Elizabeth Clark and Tenere Williams, representing Compass, along with Jay Martinez, from Kidder Mathews, and Michelle Cho, from Coldwell Banker, acted as brokers in the transaction. This deal resulted in a $100,000 premium over the list price, indicating a strong demand for the property.
Players
Long Beach Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93