Stepp Commercial complete a $2.4M sale

Stepp Commercial completed the $2.4M sale of Forty-Ninth Street Apartments, a 12-unit apartment property adjacent to the Bixby Knolls neighborhood in Long Beach. The property closed at a 5.4% cap rate and $200K/unit. The 54-year-old, two-story property is at 30 West 49th St. It includes one one-bedroom unit, and 11 two-bedroom units. The property also has parking, controlled access entry and a laundry facility.

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