Elliot Sohayegh Acquires Multifamily Property In Long Beach For $8M

Located at 233 Shore Rd in Long Beach, this multifamily property has been recently sold in a closed transaction. The property spans across 20,000 square feet and comprises 39 units, offering solid potential for generating rental income. The transaction took place on 02/02/2022 and was facilitated by Elliot Sohayegh, who acted as the buyer.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $8,000,000
• Market: Long Beach
• Units: 39
• Price per Unit: $205,128
• Square Footage: 20,000
• Price per Square Foot: $400
• Buyer: Elliot Sohayegh
• Seller: Tepedino Family

This successful transaction highlights the collaboration between Elliot Sohayegh and the Tepedino Family. Both parties were able to reach an agreement on the sale, with Elliot Sohayegh acquiring the multifamily property for $8,000,000. The property offers significant potential for rental income due to its 39 units and is a worthy addition to Elliot Sohayegh's portfolio in the thriving Long Beach market.

Elliot Sohayegh, as the buyer, expressed interest in receiving information on all deals involving both land and multifamily properties in Long Beach. This indicates a strong investment strategy focused on acquiring properties in this specific market.