Miramar Capital Expands Long Beach Apartment Portfolio

Miramar Capital has acquired two adjacent apartment properties in the Belmont Heights submarket in Long Beach from a private investor. The properties traded hands for $14.95 million.

Located at 425 Coronado Avenue and 424 Obispo Avenue, the properties offer a mix of spacious two-bedroom, one-bedroom and studio units and feature a swimming pool in-between the two buildings for residents’ use. Additionally, the assets include 48 parking spaces.

Stepp Commercial principal Robert Stepp and SVP Michael Toveg represented the buyer in the deal.