Northmarq completes $5.15M sale of 27-unit multifamily community in Long Beach, CA

26 Alamitos Ave
Investment Sales - Multifamily
Multifamily
Sale
multifamily community

LONG BEACH, Calif. — Northmarq’s El Segundo-based Investment Sales team, led by Parker Boehle, Brent Sprenkle and Alex Peterson, brokered the $5.15 million sale of Davis Apartments, a 27-unit multifamily property located at 26 Alamitos Avenue in Long Beach, California.

Northmarq represented both the seller, 26 Alamitos Avenue Partners LP, and buyer, Danny Le.

“This was an older building that our seller was looking to trade after owning for over 11 years,” Boehle said. “The buyer will continue to maintain the property and achieve the remaining potential over time through rent growth in this flourishing pocket of Long Beach.”

Built in 1929, the property features 10 one-bedroom, one-bath units and 17 studio apartments with updated fixtures. Residents enjoy convenient access to downtown Long Beach, shopping at the Pike Outlets, and are just two blocks from Alamitos Beach.

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About Northmarq 
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
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