API Completes the Purchase of a 7-Unit Property in Rose Park
Updated: 23 minutes ago
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.
Interested in seeing what your property is worth? Contact us today to schedule an appointment.