Avinder Gurpreet Purchases Retail Asset At 1002 Alamitos Avenue From Ed Sidaros For $1.95M
SOLD
$1,950,000
California
See Similar DealsRetail5,300 SF
Sold 09/10/2025
SOLD
Avinder Gurpreet Purchases Retail Asset At 1002 Alamitos Avenue From Ed Sidaros For $1.95M
1002 Alamitos Avenue
See Similar DealsRetail5,300 SF
Sold 09/10/2025
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$367
Total Square Footage:5,300 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$103,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,927.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,243.99
Annual Debt Service$110,927.94
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