Cash Flow
Seller Exchanges into 3 NNN Dollar Generals
12-Unit Multifamily
Value-add opportunity located in North Long Beach between South and Market streets and receives great exposure along Atlantic Avenue. Buildings offer a strong unit mix of eight 2-bedroom and four 1-bedroom units.
9-Unit Multifamily
Nine units located in Inglewood, less than two miles from the new NFL stadium and just a quarter-mile from the Hawthorne/Lennox Station of the Metro Green Line, which runs between Redondo Beach and Norwalk.
The Offering
The
exchange
exchange
3 NNN Dollar Generals
Our client sold the 12 units in Long Beach in addition to 9 other units in Inglewood (as seen above) to an all-cash buyer for $4,080,000. Our client purchased three new construction NNN Dollar Generals located in very stable submarkets of two different states. The aggregate purchase price was $3,986,175 for the three respective Dollar Gener-als. Our client was able to dramatically increase NOI – an increase of 85% now netting $275,492 while getting rid of all management responsibilities.
Transaction Highlights
- Located in two separate states with very stable submarkets
- NOI increase of 85 percent
- Newly constructed properties with a combined net operating income of $275,492
- Zero management responsibilities
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