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# Stepp Commercial: Multifamily Brokerage Firm in LA

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## Posts
- [How Multifamily Property Owners Are Using AI](https://steppcommercial.com/how-multifamily-property-owners-use-ai/): See how multifamily owners use AI to find revenue leaks, speed leasing, manage maintenance, and improve NOI while keeping human oversight.
- [How Do Cap Rates Compare Across Los Angeles Neighborhoods? A Multifamily Investor’s Guide](https://steppcommercial.com/how-do-cap-rates-compare-across-los-angeles-neighborhoods/): Learn how cap rates compare across Los Angeles neighborhoods and find the submarket that fits your strategy, backed by real Q1 2026 cap rate data.
- [Multifamily Property Valuation Methods in Southern California: A Guide for Apartment Investors](https://steppcommercial.com/multifamily-property-valuation-methods-in-southern-california/): Explore multifamily property valuation methods in Southern California and discover how investors use income, comps, and GRM to price assets.
- [How to Value a 10 Unit Apartment Building in California (Step-by-Step Investor Guide)](https://steppcommercial.com/how-to-value-a-10-unit-apartment-building-in-california/): Learn how to value a 10 unit apartment building in California using NOI, cap rate, and GRM with a clear step-by-step investor guide.
- [What Is GRM for Apartment Buildings in Los Angeles? A Practical Guide for Multifamily Investors](https://steppcommercial.com/what-is-grm-for-apartment-buildings-in-los-angeles/): If two Los Angeles apartment buildings generate the same rental income, why might one sell for millions more than the other? The answer often starts with a single number.
- [Multifamily Real Estate Strategy During Fed Uncertainty and Geopolitical Risk](https://steppcommercial.com/multifamily-real-estate-strategy-during-fed-uncertainty-and-geopolitical-risk/): Should multifamily investors keep waiting for the Federal Reserve to signal a clear direction, or has waiting itself become the riskiest position in the market? 
- [GlobeSt Recognizes Michael Toveg as 2026 Aspiring Leader](https://steppcommercial.com/globest-recognizes-michael-toveg-as-2026-aspiring-leader/): SANTA MONICA, Calif. June 16, 2026 — GlobeSt. has named Stepp Commercial Senior Vice President Michael Toveg a 2026 Aspiring Leader in CRE.
- [Best States for 1031 Exchange Replacement Property From California](https://steppcommercial.com/best-states-for-1031-exchange-replacement-property-from-california/): This guide covers the best states for 1031 exchange replacement property from California, how to choose between them, and what California-specific rules stay active after the exchange closes.
- [Should I Sell or Hold My Rental Property in California? How to Make the Right Decision](https://steppcommercial.com/should-i-sell-or-hold-my-rental-property-in-california/): Yet despite those numbers, a large portion of rental property owners in California carry the same unresolved question every year: should I sell or hold my rental property in California?
- [How to Find Multifamily Deals Before They Hit the Market](https://steppcommercial.com/how-to-find-multifamily-deals-before-they-hit-the-market/): Knowing how to find multifamily deals before they hit the market is not a secondary skill for serious buyers. 
- [How to Maximize Apartment Building Value Before Selling: A Guide for Southern California Investors](https://steppcommercial.com/how-to-maximize-apartment-building-value-before-selling/): For Southern California multifamily owners, knowing how to maximize apartment building value before selling determines how much equity actually survives the transaction.
- [8 Strategic Ways to Avoid Capital Gains Tax When Selling Rental Property in California](https://steppcommercial.com/how-to-avoid-capital-gains-tax-when-selling-rental-property-california/): Every year, California rental property owners walk into a sale they spent years preparing for and walk out with far less than they expected. Not because the deal fell apart. Because the tax bill arrived.
- [When Is the Best Time to Sell a Multifamily Property in Los Angeles? A 2026 Guide](https://steppcommercial.com/when-is-the-best-time-to-sell-a-multifamily-property-in-los-angeles/): So when is the best time to sell a multifamily property in Los Angeles? 
- [1031 Exchange Rules for Apartment Buildings in California: What You Need to Know (2026 Guide)](https://steppcommercial.com/1031-exchange-rules-for-apartment-buildings-in-california/): Investors applying the 1031 exchange rules for apartment buildings in California can proceed with confidence that the exchange framework is stable.
- [6 Best Neighborhoods to Buy Apartment Buildings in Los Angeles (2026 Guide)](https://steppcommercial.com/best-neighborhoods-to-buy-apartment-buildings-in-los-angeles/): As of March 2026, 64% of all households in Los Angeles are renter-occupied, according to RentCafe and Yardi Matrix data. 
- [Acquisition | 51 Units | Phoenix, AZ](https://steppcommercial.com/acquisition-51-units-phoenix-az-2/): September 18, 2025 JUST SOLD | 20 Units | Temecula | $5,300,000 September 9, 2025 Acquisition | 44 Units | Riverside August 12, 2025 Sold Off Market | $2,600,000 August 12, 2025 Sold Off Market | $3,210,000  
- [Sold Off Market | $2,600,000](https://steppcommercial.com/sold-off-market-2600000/): September 18, 2025 JUST SOLD | 20 Units | Temecula | $5,300,000 September 9, 2025 Acquisition | 44 Units | Riverside August 12, 2025 Sold Off Market | $3,210,000 August 6, 2025 JUST SOLD | $5,203,327  
- [Acquisition | 44 Units | Riverside](https://steppcommercial.com/acquisition-44-units-riverside-2/): RECENT NEWS September 18, 2025 JUST SOLD | 20 Units | Temecula | $5,300,000 August 12, 2025 Sold Off Market | $2,600,000 August 12, 2025 Sold Off Market | $3,210,000 August 6, 2025 JUST SOLD | $5,203,327
- [JUST SOLD | 20 Units | Temecula | $5,300,000](https://steppcommercial.com/just-sold-20-units-temecula-5300000/): 28465 Felix Valdez Avenue, Temecula, CA 92590 | 20 Units | $5,300,000
- [Sold Off Market | $3,210,000](https://steppcommercial.com/just-sold-off-market-3210000/): 430 Gaviota Avenue, Long Beach, CA | 10 Units | $3,210,000
- [JUST SOLD | $5,203,327](https://steppcommercial.com/just-sold-5203327/): 845 E. 6th Street, Long Beach, CA | 24 Units | $5,203,327
- [JUST SOLD | $3,949,753](https://steppcommercial.com/just-sold-3949753/): 338 Cedar Avenue, Long Beach, CA | 17 Units | $3,949,753
- [JUST SOLD | $2,566,842](https://steppcommercial.com/just-sold-2566842/): 1830-38 E. 7th Street, Long Beach, CA | 11 Units | $2,566,842
- [Acquisition | 8 Units | Long Beach](https://steppcommercial.com/acquisition-8-units-long-beach/): Represented the buyer. Contact us for pricing details.
- [Just Sold | 53 Units | Downey | $16.370M](https://steppcommercial.com/just-sold-53-units-downey-16-370m/): Stepp Commercial Closes 53-Unit Multifamily Property in Downey for Over List Price
- [Acquisition | 51 Units | Phoenix, AZ](https://steppcommercial.com/acquisition-51-units-phoenix-az/): Represented buyer. Contact us for pricing details.
- [Acquisition | 16 Units | Garden Grove](https://steppcommercial.com/acquisition-16-units-garden-grove/): Represented the buyer. Contact for pricing information.
- [JUST SOLD | $4,900,000](https://steppcommercial.com/just-sold-4900000/): 20810 Arline Avenue, Lakewood, CA | 14 Units | $4,900,000
- [Wildfires Sharpen Focus on L.A. Multifamily](https://steppcommercial.com/wildfires-sharpen-focus-on-l-a-multifamily/): The market's supply and demand imbalance and its effects are attracting investors, writes Stepp Commercial's Kimberly Stepp.
- [JUST SOLD | $2,685,000](https://steppcommercial.com/just-sold-2685000/): 2325 E 2nd Street Long Beach | 11 Units | $2,685,000
- [JUST SOLD | 48 Units | Harbor City | $6,775,000](https://steppcommercial.com/just-sold-48-units-harbor-city-6775000-2/): Congratulations to Todd Hawke, Michael Toveg, and Robert Stepp for the sale of 1661 W. 259th Street, a 48-unit value-add opportunity in Harbor City.
- [Just Sold | 651 E. 46th Street](https://steppcommercial.com/just-sold-651-e-46th-street/): Long Beach | 12 Units | $2,770,000
- [Kimberly Stepp Named as a CRE Visionary](https://steppcommercial.com/kimberly-stepp-named-as-cre-visionary/): Kimberly Stepp was named a 2024 CRE Visionary by LA Times B2B Publishing.
- [Just Sold | 925 E. 5th Street](https://steppcommercial.com/just-sold-925-e-5th-street/): Long Beach | 12 Units | $2,975,000
- [JUST SOLD | 421 E. 9th Street](https://steppcommercial.com/just-sold-421-e-9th-street/): Long Beach | 15 Units | $3,800,000
- [The Park Place Apartments, Harbor City](https://steppcommercial.com/the-park-place-apartments-harbor-city/): The building features (16) 2BD /1BA units, (29) 1BD /1BA units, and (3) studio units. Ample parking is available with 75 total secured spaces (45 garages and 30 surface spaces). Additional amenities include a gated swimming pool, spacious laundy facilities, onsite manager's office, building security system, and in-unit fireplaces.
- [JUST SOLD | 42 Units | Traffic Circle | $10.1M](https://steppcommercial.com/just-sold-42-units-traffic-circle-10-1m/): Stepp Commercial Completes $10 Million Sale of Park Manor Apartments, Two Adjacent Apartment Properties in Desirable Traffic Circle Totaling 42 Units
- [JUST SOLD | 45 Units | California Heights | $13.9M](https://steppcommercial.com/just-sold-45-units-california-heights-13-9m-2/): Stepp Commercial sells
- [JUST SOLD | 45 Units | California Heights | $13.9M](https://steppcommercial.com/just-sold-45-units-california-heights-13-9m/): Robert Stepp and Michael Toveg of Stepp Commercial Group represented the Los Angeles-based seller and an international buyer.
- [JUST SOLD | 1244 E. 4th Street](https://steppcommercial.com/just-sold-1244-e-4th-street-3-450m/): Long Beach | 14 Units | $3,450,000
- [JUST SOLD | 16 Units | Murrieta | $4,150,000](https://steppcommercial.com/just-sold-16-units-murrieta-4150000/): Los Angeles, Calif. September 25, 2024 – Stepp Commercial Group, a leading multifamily brokerage firm in the Los Angeles market, has completed the $4.150 million sale of Princess Palms, a 16-unit multifamily property located at 28239-59 Via Princessa in Murrieta, California.
- [JUST SOLD | 336. E 8th Street](https://steppcommercial.com/just-sold-336-e-8th-street/): Long Beach | 13 Units | $3,500,000
- [JUST SOLD | 52 Units | Long Beach | $18.845M](https://steppcommercial.com/just-sold-52-units-long-beach-18-845m/): Long Beach, Calif. February 16, 2024 – Stepp Commercial Group, a leading multifamily brokerage firm in the Los Angeles market, has completed the $18.845 million sale of Park Tower Apartments, a 52-unit multifamily property located at 1741 Park Avenue, Long Beach, Ca.
- [JUST SOLD | 2222 E. 6th Street](https://steppcommercial.com/just-sold-2222-e-6th-street/): Long Beach, CA | 9 Units | $2,700,000
- [JUST SOLD | Downtown Long Beach | 52 Units | Value-Add | $11.8M](https://steppcommercial.com/just-sold-52-units-value-add-11-8m/): Robert Stepp represented the buyer in the closing of 401 W. 6th Street, a 52-unit apartment asset located in Downtown Long Beach. The buyer was able to take advantage of assumable financing at 3.2% for the remaining 5 years and plans to add in-unit washer/dryers, build multiple ADUs and reposition the property.
- [JUST SOLD | 41 Units | Long Beach | $11,000,000](https://steppcommercial.com/just-sold-41-units-long-beach-11000000/): Stepp Commercial sells a 41-unit Long Beach multifamily portfolio for $11,000,000 comprised of the following properties:
- [JUST SOLD | 420 Almond Avenue](https://steppcommercial.com/just-sold-420-almond-avenue/): Long Beach, CA | 9 Units | $2,125,000
- [JUST SOLD | 1026-1040 E. Broadway Avenue](https://steppcommercial.com/just-sold-1026-1040-broadway-avenue/): Long Beach, CA | 9 Units | $3,125,000
- [JUST SOLD | 1086 Stanley Avenue](https://steppcommercial.com/just-sold-1086-stanley-avenue/): Long Beach, CA | 9 Units | $2,725,000
- [JUST SOLD | 1075 Gladys Avenue](https://steppcommercial.com/just-sold-1075-gladys-avenue/): Long Beach, CA | 9 Units | $2,750,000

## Pages
- [Long Beach Multifamily 1031 Exchange to Tampa](https://steppcommercial.com/long-beach-multifamily-1031-exchange-tampa/): A Long Beach investor owned nine 1920s apartment buildings for nearly 40 years. Stepp Commercial sold the entire portfolio for $14M and executed a single 1031 exchange into Lois Landing, a 56-unit A-location property in Tampa, Florida at a 5.5% cap rate, with 100% of capital gains fully deferred.
- [Long Beach Multifamily 1031 Exchange – 9 Properties](https://steppcommercial.com/long-beach-multifamily-1031-exchange-bakersfield/): A Long Beach investor owned nine apartment buildings for nearly 40 years. Stepp Commercial structured three sequential 1031 exchanges, selling the entire portfolio and repositioning the equity into institutional-quality assets across California, increasing net operating income by over 50% from day one, with zero capital gains paid.
- [DST 1031 exchange California](https://steppcommercial.com/dst-1031-exchange-california/): A Delaware Statutory Trust lets you sell your California apartments, defer 100% of your capital gains through a 1031 exchange, and step into institutional-grade real estate that pays you every month.
- [Long Beach multifamily DST exchange](https://steppcommercial.com/long-beach-multifamily-dst-exchange/): A Long Beach investor spent years building a 39-property multifamily portfolio. When the time came to exit active management for good, Stepp Commercial executed a complete portfolio sale and redeployed $40.5 million into a Delaware Statutory Trust generating $2,647,901 in Year 1 cash flow. Zero management required from closing day forward.
- [Long Beach multifamily 1031 exchange](https://steppcommercial.com/long-beach-multifamily-1031-exchange/): A Long Beach investor needed one broker to sell 16 apartment buildings simultaneously and redeploy $50.3 million into Phoenix within the 1031 exchange window. Stepp Commercial closed every property in six months.
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## All Properties
- [5005 August Street](https://steppcommercial.com/properties/5005-august-street/): 5005 August Street presents the opportunity to acquire a substantially (86%) renovated 44-unit multifamily community in the highly sought-after West Adams/Crenshaw submarket of Los Angeles. The property consists of three (3) one-bedroom/one-bath units, thirty-one (31) studio units, and ten (10) bachelor units, providing an efficient unit mix that caters to the area's strong workforce and young professional renter base.Current ownership has completed an extensive renovation program, with 38 of the property's 44 units fully renovated to a contemporary standard featuring modern fixtures, finishes, and interior upgrades. In addition to the unit improvements, the property benefits from upgraded vinyl windows throughout, individual gas and electric metering, and a well-maintained common area amenity package that includes an on-site laundry facility, swimming pool, and outdoor lounging area. Parking is a significant competitive advantage, with 50 on-site parking spaces, providing an unusually high parking ratio for a dense urban Los Angeles location.Operationally, the asset offers both immediate cash flow and meaningful upside. Based on the current operating statements, the property is projected to generate approximately $658,950 in current gross operating income, with a clear path to $792,373 in stabilized gross operating income through continued lease optimization and realization of market rents. The property's existing renovation program significantly reduces future capital expenditure requirements while positioning the remaining unrenovated units to provide additional value-add opportunities.Less than one mile from the property, the Baldwin Hills Crenshaw Plaza and 5035 Coliseum Street mixed-use projects are in development, representing an estimated $1.5 billion in combined public and private investment.Together, these transformative developmentswill deliver nearly 1,800 new residential units, a Costco, a 400-room hotel, expanded retail, office space, restaurants, and new public gathering areas, fundamentally reshaping the Baldwin Hills/Crenshaw corridor.This unprecedented level of institutional investment is expected to create thousands of permanent jobs, enhance neighborhood amenities, and further elevate the area's long-term desirability among residents. For multifamily investors, these projects reinforce the submarket's strong growth trajectory, supporting sustained renter demand, long-term rent appreciation, and continued asset value growth.5005 August Street represents a rare opportunity to acquire a largely turnkey apartment community with modern interiors, attractive amenities, substantial parking, and remaining rental upside in one of Los Angeles' strongest long-term multifamily markets.
- [1019 Lewis Avenue](https://steppcommercial.com/properties/1019-lewis-avenue/)
- [Michigan Heights](https://steppcommercial.com/properties/michigan-heights/): One of the highest cash-flowing, post-1980 apartment opportunities currently available in Los Angeles
- [The Movaje Apartments](https://steppcommercial.com/properties/the-movaje-apartments/)
- [1153-1161 Magnolia](https://steppcommercial.com/properties/1153-1161-magnolia/): Immediate Cash Flow with Long-Term Growth Potential1153-1161 Magnolia Avenue offers investors the opportunity to acquire a stabilized 28-unit apartment community that generates attractive day-one cash flow while providing meaningful long-term rental upside. Unlike many value-add investments that require significant renovation capital, the property delivers strong in-place income with the opportunity to increase revenues through natural tenant turnover and disciplined asset management.The property’s balanced unit mix, attractive central courtyard, fourteen private garages, and on-site laundry facilities create a highly desirable living environment that supports tenant retention while providing additional income opportunities.Located in one of Southern California’s strongest rental markets, the property benefitsfrom Long Beach’s expanding aerospace, healthcare, logistics, and technology sectors, creating long-term demand for quality workforce housing. Combined with strong current returns, modest rental upside, and limited operational risk, Magnolia Avenue representsan exceptional opportunity for investors seeking both dependable income and future appreciation.
- [1023 E. 28th Street](https://steppcommercial.com/properties/1023-e-28th-street/): Designed for Operational Efficiency & Reduced Expenses
- [Long Beach Off-Campus Student Housing Portfolio](https://steppcommercial.com/properties/long-beach-off-campus-student-housing-portfolio/): Stepp Commercial is pleased to present the Vibe Housing Long Beach Off-Campus Student Housing Portfolio, a collection of five well-located assets encompassing 216 beds. Vibe Housing employs a "by the bed" (216 beds in total) leasing model — a format widely adopted in purpose-built student housing — which rents furnished individual beds, rather than entire units. This approach is highly attractive to students, eliminating the need to coordinate roommates and offering more flexible housing options. For ownership, the model drives higher effective rents per unit and supports more stable, diversified cash flow. The Vibe Housing Portfolio benefits from consistent built-in demand by California State University, Long Beach (CSULB).
- [1817 Stanley Avenue](https://steppcommercial.com/properties/1817-stanley-avenue/): The Offering 1817 Stanley Avenue is a well-located 5-unit multifamily opportunity in the highly desirable, supply-constrained enclave of Signal Hill—an independent city within Long Beach known for its favorable tax structure, strong demographics, and consistent rental demand.  The property is comprised of: front two-story building with (2) studio units; rear two-story building with (2) 3BD/2BA units and a two-car garage; and (1) 1BD/1BA + Den House with a private yard. All units have been renovated with new flooring, updated kitchens with news appliances, and modern bathrooms. Capital Improvements In addition to remodels on all units, the property benefits from updated plumbing lines, new gas lines, and two new water heaters. Additionally new stairs were installed and new roofing on multiple buildings. Signal Hill Advantage Signal Hill’s fundamentals further enhance the investment profile. The city’s median household income of approximately $113,000 and homeownership rate near 50% support a stable renter base with strong purchasing power. Combined with Long Beach’s broader market dynamics—3.1% vacancy, 22.3% cumulative rent growth over the past three years, and limited new supply—the property is well-positioned for continued income growth and long-term appreciation. Situated near major freeways including the I-405, I-710, and SR-91, residents benefit from convenient access to major employment centers such as the Port of Long Beach, CSULB, and surrounding business hubs. Signal Hill’s unique combination of central location, lower operating cost structure (no utility tax or Mello-Roos), and strong quality of life continues to attract and retain tenants, reinforcing the durability of the submarket. Investment Positioning 1817 Stanley Avenue offers a well-executed asset where a majority of capital improvements and interior renovations have already been completed, allowing a new owner to step into immediate, stable cash flow. Additionally, two units may be delivered vacant upon close-of-escrow, allowing a new owner to establish rents at current market levels from day one.
- [1070 Chestnut Avenue](https://steppcommercial.com/properties/1070-chestnut-avenue/): The property has benefited from several recent capital improvements, reducing near-term maintenance exposure and enhancing operational stability. These include:
- [1825-35 Stanley Avenue](https://steppcommercial.com/properties/1825-35-stanley-avenue/): The Offering 1825–35 Stanley Avenue is a 10-unit multifamily opportunity in the supply-constrained enclave of Signal Hill—an independent city within Long Beach known for its favorable tax structure, strong demographics, and consistent rental demand. The property offers a balanced unit mix of (2) 2BD/1BA units, (7) 1BD/1BA units, and (1) 1BD/1BA + office, providing broad appeal to a diverse tenant base. On-site laundry and parking provide additional income. Value-Add Potential Currently operating at a 10.92 GRM on in-place rents, the asset offers ±28% rental upside, allowing a new owner to strategically increase income through interior upgrades and operational improvements. The property benefits from updated electrical panels and fresh exterior paint, reducing near-term capital expenditure while preserving the ability to implement a targeted value-add program. The existing six (6) garages also offer potential for ADU conversion (buyer to verify), providing a path to ±$65,000 in additional annual rental income and increased long-term value creation. Signal Hill Advantage Signal Hill’s fundamentals further enhance the investment profile. The city’s median household income of approximately $113,000 and homeownership rate near 50% support a stable renter base with strong purchasing power. Combined with Long Beach’s broader market dynamics—3.1% vacancy, 22.3% cumulative rent growth over the past three years, and limited new supply—the property is well-positioned for continued income growth and long-term appreciation. Situated near major freeways, including the I-405, I-710, and SR-91, residents benefit from convenient access to major employment centers such as the Port of Long Beach, CSULB, and surrounding business hubs. Signal Hill’s unique combination of central location, lower operating cost structure (no utility tax or Mello-Roos), and strong quality of life continues to attract and retain tenants, reinforcing the durability of the submarket. Investment Positioning 1825–35 Stanley Avenue offers a high-upside, value-add asset with income growth through rent repositioning and ADU potential, supported by strong submarket fundamentals and limited new supply.
- [1809 Appleton Street](https://steppcommercial.com/properties/1809-appleton-street/): Alamitos Beach represents one of Long Beach’s most compelling multifamily submarkets—characterized by a dense, walkable urban fabric set directly along the coastline. The neighborhood commands average rents of approximately $2,548 per month, representing a ~21% premium over the broader Long Beach market, while maintaining strong occupancy levels near 93%. The area’s appeal is driven by a unique combination of direct beach access and a vibrant cultural and nightlife scene, making it a popular choice for young professionals.
- [1628-32 W. 218th Street](https://steppcommercial.com/properties/1628-32-w-218th-street/): 1628-32 W. 218th Street is a turn-key 17-unit multifamily asset located in Torrance, California, one of the South Bay's most stable rental markets.
- [1038 E 53rd Street](https://steppcommercial.com/properties/1038-e-53rd-street/): 1038 E. 53rd Street presents a turnkey, newly constructed multifamily investment opportunity in a rapidly evolving pocket of Los Angeles, where ongoing neighborhood reinvestment, cultural momentum, and improving transit connectivity continue to drive renter demand and long-term appreciation.
- [1721-25 Freeman Avenue](https://steppcommercial.com/properties/1721-25-freeman-avenue/): 1721–1725 Freeman Avenue is a turnkey 16-unit multifamily asset located in the Eastside submarket of Long Beach—one of the most densely populated and supply-constrained rental corridors in Southern California. Strategically positioned between Downtown Long Beach and Cal State Long Beach, the property benefits from immediate access to major employment centers, transit infrastructure, and the cultural and economic activity along the Anaheim Street corridor.
- [244-246 Coronado Avenue](https://steppcommercial.com/properties/244-246-coronado-avenue/): 244–246 Coronado Avenue is an 18-unit multifamily asset located in the highly desirable Belmont Heights / Bluff Heights submarket of Long Beach—one of the city’s most supply-constrained coastal rental markets. The submarket commands a consistent rental premium driven by its walkability, historic character, and proximity to the ocean, with strong demand from affluent, educated renters.
- [1495 Peterson Avenue](https://steppcommercial.com/properties/1495-peterson-avenue/): 1495 Peterson Avenue is a turn-key 24-unit multifamily asset located in the established Poly High submarket of Long Beach, a centrally positioned rental corridor with strong and consistent tenant demand.
- [445 E. 3rd Street](https://steppcommercial.com/properties/445-e-3rd-street/): 445 E. 3rd Street is a 22-unit multifamily asset located in Long Beach’s East Village Arts District, a dense, walkable submarket within Downtown that continues to attract a steady base of renters driven by proximity to employment, transit, and lifestyle amenities. The property consists of fourteen (14) studio units and eight (8) one-bedroom/one-bath units, providing an efficient unit mix aligned with prevailing demand in the area, as evidenced by 100% occupancy (as of March 18, 2026).
- [319 Elm Avenue](https://steppcommercial.com/properties/319-elm-avenue/): 319 Elm Street is a 24-unit multifamily asset located in Long Beach’s East Village Arts District, a dense and walkable Downtown submarket known for its consistent renter demand and proximity to employment, transit, and lifestyle amenities. The property is comprised of eighteen (18) studio units and six (6) one-bedroom/one-bath units, offering an efficient small-unit mix aligned with the area’s tenant profile, as evidenced by 100% occupancy (as of March 18, 2026).
- [235-237 Linden Avenue](https://steppcommercial.com/properties/235-237-linden-avenue/): 235–237 Linden Avenue is an 18-unit multifamily asset located in Long Beach’s East Village Arts District, a walkable and supply-constrained Downtown submarket supported by consistent renter demand and proximity to employment, transit, and lifestyle amenities. The property features a balanced unit mix of nine (9) studios and nine (9) one-bedroom/one-bath units, providing an efficient unit mix aligned with prevailing demand in the area, as evidenced by 100% occupancy (as of March 18, 2026).
- [433 Nebraska Avenue](https://steppcommercial.com/properties/433-nebraska-avenue/): Located just steps from Long Beach’s vibrant 4th Street/Retro Row corridor, 433 Nebraska Avenue is a beautifully renovated 11-unit apartment asset offering an exceptional investment opportunity in a prime rental market. The property consists of (8) 1BD/1BA units, (2) 2BD/1BA units, and (1) 2BD/2BA unit. All units have been upgraded to top-tier market standards and feature bright, open floor plans, in-unit washer/dryers, and high-end finishes. Residents enjoy shared upper and lower outdoor community lounge areas, along with seven garages and one surface parking space. Recent capital improvements include: new roof installed in 2024 as well as new electrical subpanels, plugs, and switches in all units. This turnkey asset combines high-quality renovations, desirable amenities, and assumable financing—making it a compelling opportunity for investors seeking stable income in one of Long Beach’s most dynamic submarkets.
- [636 Linden Avenue](https://steppcommercial.com/properties/636-linden-avenue/): 636 Linden Avenue is a 20-unit apartment asset located in vibrant East Village Arts District, Downtown Long Beach. The asset is priced at just $167,500 per unit, 9.71 GRM and 6.16% cap rate at current rents.
- [721 E. 7th Street](https://steppcommercial.com/properties/721-e-7th-street/): 721 E. 7th Street is an 16-unit apartment asset located in the East Village Arts District neighborhood of Downtown Long Beach. The property is offered at 8.87 GRM and 6.88% cap rate on current rents.
- [Livingston Place](https://steppcommercial.com/properties/livingston-place/): Livingston Place is a 26-unit apartment complex located at 5120 Livingstone Drive in the highly sought-after Belmont Shore rental submarket of Long Beach. Attractive assumable financing is available at 2.97% with 60% LTV through 2030.

## Team Members
- [Robert Stepp](https://steppcommercial.com/_team-members/robert-stepp/)
- [Kimberly R. Stepp](https://steppcommercial.com/_team-members/kimberly-r-stepp/)
- [Michael Toveg](https://steppcommercial.com/_team-members/michael-toveg/)
- [Todd Hawke](https://steppcommercial.com/_team-members/todd-hawke/)
- [Mark Witsken](https://steppcommercial.com/_team-members/mark-witsken/)
- [Jacob Taylor](https://steppcommercial.com/_team-members/jacob-taylor/)
- [Larry Bustamante](https://steppcommercial.com/_team-members/larry-bustamante/)
- [Colin Gillespie](https://steppcommercial.com/_team-members/colin-gillespie/)
- [Dayna Gutmann](https://steppcommercial.com/_team-members/dayna-gutmann/)
- [Patricia Tay](https://steppcommercial.com/_team-members/patricia-tay/)
- [Gabriel Connolly](https://steppcommercial.com/_team-members/gabriel-connolly/)

# Stepp Commercial

> Stepp Commercial is a Southern California multifamily investment brokerage based in Santa Monica, CA (CA DRE Lic. No. 02325250). Since 2015 the firm has closed 1,400+ transactions representing 17,000+ multifamily units and $1B+ in sales volume, and has ranked the #1 multifamily sales team in Long Beach every year since 2015 with a 42% market share in that submarket.

Stepp Commercial serves three client types: multifamily property owners considering a sale or valuation, private capital investors (family offices, high-net-worth individuals, institutional buyers) seeking on-market and off-market multifamily acquisitions, and 1031 exchange clients selling California multifamily assets and identifying replacement property under IRS timelines, including Delaware Statutory Trust (DST) structures. The firm has facilitated $400M+ in 1031 exchange transactions and operates exclusively as a California DRE-licensed brokerage, partnering with licensed local brokers for out-of-state exchange replacement markets. All brokers are individually licensed; every transaction is governed by California's fiduciary standard.

Primary contact: 1-866-99-STEPP / info@steppcommercial.com. Headquarters: 2850 Colorado Avenue, Santa Monica, CA 90404.

## Company

- [About Stepp Commercial](https://steppcommercial.com/about-us/): Firm overview, track record (1,400+ transactions, 17,000+ units, 42% Long Beach market share), client profiles served, fiduciary positioning, and leadership team.
- [Contact](https://steppcommercial.com/contact/): Direct contact information and property valuation request form.
- [Home](https://steppcommercial.com/): Current listings, firm positioning, and entry points to valuation and 1031 exchange services.

## Services: 1031 Exchange & DST

- [DST 1031 Exchange California](https://steppcommercial.com/dst-1031-exchange-california/): Educational guide to Delaware Statutory Trust investing for California multifamily investors deferring capital gains via 1031 exchange, including process, comparison table, and eligibility checklist.
- [1031 Exchange Rules for Apartment Buildings in California](https://steppcommercial.com/1031-exchange-rules-for-apartment-buildings-in-california/): Explains 1031 exchange rules, timelines, and requirements specific to California multifamily sellers.
- [Best States for 1031 Exchange Replacement Property from California](https://steppcommercial.com/best-states-for-1031-exchange-replacement-property-from-california/): Comparison of out-of-state markets California sellers use to identify 1031 replacement property.

## Case Studies (Closed Transactions)

- [$50.3M Long Beach Multifamily 1031 Exchange](https://steppcommercial.com/long-beach-multifamily-1031-exchange/): 16-property Long Beach portfolio sale executed as a 1031 exchange into a Phoenix, AZ replacement property.
- [$78.9M Long Beach Multifamily DST Exchange](https://steppcommercial.com/long-beach-multifamily-dst-exchange/): 39-property Long Beach portfolio sale exchanged into a Delaware Statutory Trust generating $2.6M in Year 1 cash flow.
- [Long Beach Multifamily 1031 Exchange – Bakersfield](https://steppcommercial.com/long-beach-multifamily-1031-exchange-bakersfield/): 1031 exchange transaction story with Bakersfield, CA replacement property.
- [Long Beach Multifamily 1031 Exchange – Tampa](https://steppcommercial.com/long-beach-multifamily-1031-exchange-tampa/): 1031 exchange transaction story with Tampa, FL replacement property.
- [Past Transactions](https://steppcommercial.com/past-transactions/): Full index of closed sales, acquisitions, and exchange transactions across Long Beach, Los Angeles, and Santa Monica.

## Market Insights & Investor Education

- [How to Avoid Capital Gains Tax When Selling Rental Property in California](https://steppcommercial.com/how-to-avoid-capital-gains-tax-when-selling-rental-property-california/)
- [How to Maximize Apartment Building Value Before Selling](https://steppcommercial.com/how-to-maximize-apartment-building-value-before-selling/)
- [When Is the Best Time to Sell a Multifamily Property in Los Angeles](https://steppcommercial.com/when-is-the-best-time-to-sell-a-multifamily-property-in-los-angeles/)
- [Should I Sell or Hold My Rental Property in California](https://steppcommercial.com/should-i-sell-or-hold-my-rental-property-in-california/)
- [Best Neighborhoods to Buy Apartment Buildings in Los Angeles](https://steppcommercial.com/best-neighborhoods-to-buy-apartment-buildings-in-los-angeles/)
- [How to Find Multifamily Deals Before They Hit the Market](https://steppcommercial.com/how-to-find-multifamily-deals-before-they-hit-the-market/)
- [Multifamily Real Estate Strategy During Fed Uncertainty and Geopolitical Risk](https://steppcommercial.com/multifamily-real-estate-strategy-during-fed-uncertainty-and-geopolitical-risk/)

## Properties

- [Current Listings](https://steppcommercial.com/properties/): Live inventory of multifamily properties for sale across Long Beach, Los Angeles, and Santa Monica. Individual listing URLs change as properties go under contract or close and are intentionally not enumerated here — refer to this hub page for current inventory.

## Leadership

- [Robert Stepp, President](https://steppcommercial.com/_team-members/robert-stepp/): Co-founder and President of Stepp Commercial.
- [Kimberly R. Stepp, Principal](https://steppcommercial.com/_team-members/kimberly-r-stepp/): Co-founder and Principal of Stepp Commercial.
- [Michael Toveg, Senior Vice President](https://steppcommercial.com/globest-recognizes-michael-toveg-as-2026-aspiring-leader/): Named a 2026 GlobeSt. Aspiring Leader in CRE; more than $750M in multifamily sales volume across Southern California.

## Optional

- [News & Info](https://steppcommercial.com/news-info/): Full blog archive including market commentary and press coverage.
- [Privacy Policy](https://steppcommercial.com/privacy-policy/)
- [Terms of Use](https://steppcommercial.com/terms-of-use/)
- [Accessibility Statement](https://steppcommercial.com/accessibility-statement/)