facebook
Traded Co logo
Submit a Deal

IRA Capital Acquires Multifamily Portfolio In Long Beach For $41.9M

Alden Pacific Investments, Stepp Commercial & Coldwell Banker brokers deal for $41.85M in Long Beach
PointingArrow
ShareContact

This MultiFamily property located in CA was sold for $41,850,000 over 2 years ago. The brokers of the deal were Larry Bustamante, Travis Traweek, John Alden, Michael Toveg, and Robert Stepp

A multifamily property portfolio in Long Beach has been sold for a total price of $41,850,000. The portfolio consists of 155 units with an average price per unit of $270,000. The total square footage of the properties is 112,240, with an average price per square foot of $373. The properties included in the portfolio are located at the following addresses: 726 Maine Ave., 811 Gardenia Ave., 432-440 & 834 Walnut Ave., 1049 E. 5th St., 621 Cerritos Ave., 1512 E. Florida Ave., 436 & 1042-1050 Gaviota Ave., 335 Orange Ave., 2652-2706 E. 15th St., 736-744 Olive Ave., 820 Lime Ave., 722-E., 441 Dawson Ave., 1086 & 1128 Stanley Ave.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $41,850,000
  • Units: 155
  • Price Per Unit: $270,000
  • Square Footage: 112,240
  • Price Per Square Foot: $373

The buyer of the portfolio is IRA Capital, represented by Amer Kasm. The seller's representatives are Robert Stepp, Travis Traweek, and Mike Toveg from Stepp Commercial, along with Larry Bustamante from Coldwell Banker. John Alden from Alden Pacific Investments represented the buyer in the transaction.

View Related

Deals
  • Location
    Long Beach, California, United StatesLong Beach, California, United States
  • Sale Price
    $41,850,000$41,850,000
    $372 PPSF$372 PPSF
  • Area
    112,240 SF112,240 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    5 Brokers, 2 Agencies5 Brokers, 2 Agencies

Agents

Travis Traweek

Travis Traweek

Deals2
Sold$46.9M

Agencies

Coldwell Banker

Coldwell Banker

Agency
Deals1405
Volume$9.3B

Stepp Commercial

Stepp Commercial

Agency
Deals40
Volume$371.1M

Social

Deal Summary

SALE IMAGE: Robert Stepp, Mike Toveg, John Alden, Larry Bustamante & Travis Traweek DATE: 10/25/2021 ADDRESS: 726 Maine Ave., 811 Gardenia Ave., 432-440 & 834 Walnut Ave., 1049 E. 5th St., 621 Cerritos Ave., 1512 E. Florida Ave., 436 & 1042-1050 Gaviota Ave., 335 Orange Ave., 2652-2706 E. 15th St., 736-744 Olive Ave., 820 Lime Ave., 722-E., 441 Dawson Ave., 1086 & 1128 Stanley Ave. MARKET: Long Beach ASSET TYPE: Multifamily BUYER: IRA Capital - Amer Kasm BUYER'S REP: John Alden - Alden Pacific Investments (@Alden_Pacific_Investments) SELLER'S REP: Robert Stepp (@RobStepp1), Travis Traweek (@TraweekCRE) & Mike Toveg (@Mtoveg) - Stepp Commercial (@Stepp_Commercial) & Larry Bustamante (@Larry_Bustamante) - Coldwell Banker SALE PRICE: $41,850,000 UNITS: 155 ~ PPU: $270,000 SF: 112,240 ~ PPSF: $373

Comparables


We could not find what you were looking for, try a different filter

Contact

Broker's profile image

Alden Pacific Investments, Stepp Commercial & Coldwell Banker brokers deal for $41.85M in Long Beach

  • Social

  • Comparables

  • Contact

  • Share


  • Login to Suggest Edits