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Southern California Apartment Property Sells for Less Than Previous Price As Rates Hit Market

Advanced Real Estate Services Pays $58 Million for the Property in Long Beach
The Edison is an office-to-apartment conversion in Long Beach, California. The property has 156 units and is located at 100 Long Beach Blvd. (CoStar)
The Edison is an office-to-apartment conversion in Long Beach, California. The property has 156 units and is located at 100 Long Beach Blvd. (CoStar)
CoStar News
April 17, 2023 | 10:31 P.M.

An apartment property in downtown Long Beach, California, has sold for less than its previous sales price in 2017 in another indication of how interest rates are upending real estate values.

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