Tien Lung Chen Purchases Development Site In Pasadena For $11.1 Million With Eric Chen Representing Buyer
SOLD
$11,100,000
+ 1
California
See Similar DealsDevelopment Site
Sold 09/05/2025
SOLD
Tien Lung Chen Purchases Development Site In Pasadena For $11.1 Million With Eric Chen Representing Buyer
253 South Los Robles Avenue
See Similar DealsDevelopment Site
Sold 09/05/2025
+ 1
Summary
CALIFORNIA
Asset Type:Development Site
Transaction Type:Sale
The asset involved in this transaction is a development site located at 253 South Los Robles Avenue in Pasadena. The sale price for the property was $11,100,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $11,100,000
- Buyer: Tien Lung Chen
- Seller: Maggie Zhong
- Buyer's Representative: Eric Chen - CBRE
- Seller's Representatives: Edward Matevosian - CBRE & Frank Artura - TVM Commercial Realty Group Inc
- Transaction Date: 09/05/2025
The deal involved key individuals and companies, with Eric Chen representing the buyer Tien Lung Chen through CBRE, and the seller Maggie Zhong represented by Edward Matevosian from CBRE and Frank Artura from TVM Commercial Realty Group Inc.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$592,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,435.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,619.66
Annual Debt Service$631,435.96
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