3050 Orange Ave LLC Acquires StorCo Self Storage In Long Beach For $13.49M
3050 Orange Avenue
$13,490,000
Building Size
—
Asset Type
Self Storage
Closing
Jan 4, 2024
AI
The Colliers' de Jong | Becher Self Storage Group facilitated the $13.49 million sale of StorCo Self Storage in Long Beach, California. The property, located at 3050 Orange Avenue, spans across 7.56 acres and consists of 772 storage units, various storage spaces, a commercial building, parking, and an industrial parcel leased to Rain For Rent.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $13,490,000
- Units: 772
- Price per Unit: $17,474
The buyer, 3050 Orange Ave LLC, acquired the property from the seller, CREE Investment Company. The transaction was brokered by Jacob Becher and Tom de Jong from Colliers International.
Players
Signal Hill Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93