Long Beach, CA, Tuesday, October 04, 2016– Senior Vice President Tim Steuernoland Associate Michael Jacobs with NAI Capital’s Torrance office completed the sale of a two multifamily apartment properties totaling 11 units in Long Beach, Calif. Steuernol and Jacobs represented the buyer and seller in the transactions.
1915 Lime Avenue
1915 Lime Avenue, Long Beach totaled 6 units; four 2-bedroom units and two 1-bedroom units. Sale price totaled $1,030,000 or $171,667 per unit. The buyer was Elizabeth Earl Enterprises LLC and seller was Dennis Bruyers.
405 E 20th Street
405 E 20th Street, Long Beach included a single family home and four bungalow style apartments. Sale price totaled $810,000 or $162,000 per unit. The buyer was Tony Bral and seller was Carlos & Alex Pfister, Victor & Daniel Barreto.
Steuernol said, “Investment in the apartment market remains hot in Los Angeles County. Investors can find value in the Long Beach market. Both of these properties provided a tremendous value-add opportunity for my private investor clients.”
“With strong competition for income producing rental units, it is a good time to sell. The 405 E 20th Street property sold over its original asking price.” Jacobs added.