Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles
market, has completed the $2.1 million sale of an 8-unit apartment
property located at 1010 E. 2nd Street in the prime Alamitos Beach
submarket of Long Beach, CA.
Stepp Commercial Principal Robert Stepp and Vice President Mark Witsken
represented the seller, Los Angeles-based LMDG Real Estate Value Fund II
Holdings. The buyer was a private investor from Los Angeles. The
transaction closed at a price per unit of $262,500.
Built in 1923, the well-maintained two-story property totals 4,160 square
feet and features eight studio units. The property offers charming built-ins
and finishes indicative of 1920s architecture.
“This property is truly a jewel in the coveted Alamitos Beach submarket,”
said Stepp. “The location, which is bordered by the dynamic East Village
Arts District, is surrounded by dozens of dining, retail and nightlife