HFH Limited Acquires Patio Gardens From Private Investor In Long Beach For $50.8M

An apartment community known as Patio Gardens, located at 4874 E. Los Coyotes Diagonal in Long Beach’s Traffic Circle neighborhood, has been sold in a commercial transaction. The property, built in 1958, consists of 19 two-story buildings with a total of 127 two-bedroom units averaging 1,000 square feet. Amenities on-site include landscaped gardens, lawns, laundry facilities, a fitness center, and parking garages. The sale was negotiated by Robert Stepp of Stepp Commercial, with Emeryville, Calif.-based HFH Limited acquiring the property from a private investor based in Long Beach for $50.8 million.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $50,800,000.00
• Buyer: HFH Limited
• Seller: Private Investor
• Buyer's Representative: Robert Stepp (Stepp Commercial)
• Address: 4874 E Los Coyotes Diagonal, Long Beach
• Market: Vian

The sale of Patio Gardens was facilitated by Robert Stepp of Stepp Commercial, representing both the buyer, HFH Limited, and the seller, a private investor in Long Beach. Emeryville-based HFH Limited successfully acquired the property, showcasing the expertise and negotiation skills of all parties involved in this commercial real estate transaction.