Avinder Gurpreet Purchases Retail Asset At 1002 Alamitos Avenue From Ed Sidaros For $1.95M
1002 Alamitos Avenue
$1,950,000
$367/SF
Building Size
5,300 SF
Asset Type
Retail
Closing
Sep 10, 2025
AI
The asset involved in the transaction is a retail property located at 1002 Alamitos Avenue in Long Beach. The sale price for this property was $1,950,000. It encompasses a total square footage of 5,300, resulting in a price per square foot of $367.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,950,000
- Address: 1002 Alamitos Avenue
- Market: Long Beach
- Square Footage: 5,300
- Price Per Square Foot: $367
- Buyer: Avinder Gurpreet
- Seller: Ed Sidaros
- Brokers: Orbell Ovaness & Ara Rostamian - The Ovaness-Rostamian Group - Marcus & Millichap
The transaction featured Avinder Gurpreet as the buyer, while the seller was Ed Sidaros. The deal was represented by brokers Orbell Ovaness and Ara Rostamian from The Ovaness-Rostamian Group, which is part of Marcus & Millichap, highlighting the involvement of experienced professionals in the closing of this retail property sale.
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
8.13%
Cash-on-Cash
-2.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93