LONG BEACH, CALIF. — CBRE has arranged the sale of two communities totaling 23 units for in Long Beach. The assets sold for a total $7.1 million to two separate buyers.
In the first deal, CBRE’s Dan Blackwell and Trey Mitchell represented the seller in the disposition of a seven-unit property at 122 E. 55th Street in North Long Beach. A private investor based in Long Beach acquired the property from an Orange County-based repeat client of CBRE for $2.3 million. The property was built in 1962 on0.2 acres. The two-story, 5,755-square-foot building offers two and three-bedroom units, which were recently renovated.
Blackwell and Mitchell also brokered the sale of a property at 1071 & 1075 Junipero Avenue. CBRE represented the seller, a private investor based in Orange County. The buyer was a private investor based in Los Angeles County. The property traded hands for $4.8 million. The community offers 16 units across two buildings on a 0.3-acre lot. Units come in two-bedroom floor plans. Amenities include covered parking spaces and a laundry facility in each building.