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Stepp Commercial Brokers $50.8M Sale of Apartment Community in Southern California

Patio-Gardens-Long-Beach-CA

Located in Long Beach, Calif., Patio Gardens features 127 two-bedroom apartments averaging 1,000 square feet.

LONG BEACH, CALIF. — Stepp Commercial has negotiated the sale of Patio Gardens, an apartment community located at 4874 E. Los Coyotes Diagonal in Long Beach’s Traffic Circle neighborhood. Emeryville, Calif.-based HFH Limited acquired the property from a Long Beach-based private investor for $50.8 million.

Built in 1958, the property features 19 two-story buildings with a total of 127 two-bedroom units averaging 1,000 square feet. On-site amenities include landscaped gardens and lawns, laundry facilities, a fitness center and parking garages.

Robert Stepp of Stepp Commercial represented the seller and buyer in the deal.

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