Stepp Commercial represented a private investor in the acquisition of the 60-unit Surf Terrace apartments at 11 S. Termino Ave. in Long Beach, California, from a family trust for $28.6 million. This iconic Belmont Shore asset was built in 1964 and was on the market for the first time ever. With a mix of one, two and three bedroom units the value-add property was 65% renovated with 45% upside potential.
