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Long Beach Multifamily Property Trades in $47 Mil Deal

5/11/22

Fountain View Apartment Homes, a 153-unit community in Long Beach, traded hands in a recent $47.05 mil ($307.5k/unit) transaction. Built in 1986, Fountain View is located at 2301 E. Market St, east of Chaerry Ave and north of Del Amo Blvd.

Fountain View Apartment Homes offers studio, one-bedroom/one bath and two-bedroom/two and half bath townhome units housed in 14 residential buildings on a two-and-a-half-acre site. Community amenities include a dog park, swimming pool, laundry rooms, leasing office, storage area, lush landscaping, and garage parking. Fountain View Apartment Homes recently underwent a multi-million-dollar renovation to enhance building exterior, common areas and unit interiors. The property was 98% occupied at closing.

The Mogharebi Group represented the Los Angeles-based seller in the deal.




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