Updated Dec 19, 2023
Babak Jebelli Acquires Retail Property In Long Beach For $10.3M
4000 Atlantic Avenue, Long Beach, California 90807, United States
$10,265,000
$905/SF
Building Size
11,339 SF
Asset Type
Retail
Closing
Apr 3, 2022
About this deal
AI
The retail property located at 4000-4040 Atlantic Ave. & 610-612 Carson St. in Long Beach has been sold in a recent transaction. The property spans over 11,339 square feet and is situated in the Long Beach market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,265,000
- Price per Square Foot: $905
- Buyer: Babak Jebelli
- Seller: Mark Bolour
- Brokers: Michael Pakravan & Devon Dykstra - Matthews Real Estate Investment Services
The deal, which was facilitated by Michael Pakravan and Devon Dykstra from Matthews Real Estate Investment Services, involved the sale of the property from Mark Bolour to Babak Jebelli. The transaction took place on April 4, 2022.
On the Map
$10,265,000
$905/SF
Retail
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Players
Long Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.55%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93