API Completes the Sale of a 7-Unit Property in Rose Park
Updated: Oct 6, 2021
Alden Pacific Investments recently closed on 1201 Ohio Ave, a 7-unit building in Long Beach. The buyer was represented by John Alden who closed the deal at $1.78m. The property consists of (7) 2 BD/1 BA units and offers a stabilized CAP rate of 6.3%.
This was the buyer's first multifamily property in Long Beach; they were coming out of a 1031 exchange during the pandemic. We were able to help them source a deal that had upside potential and strong in place rents. We helped consult with the new owner to put a team around them to ensure the success of their investment was aligned with their long term investing goals.
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