Skip to main content

Press Releases

Marcus & Millichap Arranges the Sale of an Eight-Unit Multifamily Property in Long Beach

June 04, 2024

LONG BEACH, Calif., June 4, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of an eight-unit apartment property located in Long Beach, California. The asset sold for $2,150,000.

“We were hired with the goal of facilitating the sale by the owner of more than 30 years, who was looking to invest the proceeds elsewhere,” said Nicholas Kazemi, first vice president investments in the Marcus & Millichap’s Orange County office. “After completing an in-depth marketing campaign, we generated multiple offers, with the seller ultimately selecting an offer with an accelerated timeline.” Kazemi, along with Evan Gray, associate in the firm’s Orange County office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. Bill Keye procured the buyer.

This multifamily asset is located at 5285 East The Toledo in Long Beach, California. On the market for the first time in nearly 30 years, this was an all-cash transaction, sold as-is, with a seven-day due diligence period and a 14-day escrow period. Consisting exclusively of studio floor plans, each unit features security doors and a mix of hardwood, tile and carpet flooring. Maintenance consisting of a new roof, water heaters, sub-panels and plumbing was completed within the last seven years. Property amenities include two surface parking spaces and on-site laundry. Residents are within walking distance of Rosie’s Dog Beach, Long Beach City Beach and Belmont Veterans Memorial Pier. It is also just over a mile from the Pacific Coast Highway and an open-air mall anchored by Whole Foods Market.


#     #     #

About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit

MM Texture Background