Kang Wang Acquires Development Site At 85 West Green Street Pasadena From Jack Guiragosian For $2M
SOLD
$2,000,000
California
See Similar DealsDevelopment Site
Sold 09/19/2025
SOLD
Kang Wang Acquires Development Site At 85 West Green Street Pasadena From Jack Guiragosian For $2M
85 West Green Street
See Similar DealsDevelopment Site
Sold 09/19/2025
Summary
CALIFORNIA
Asset Type:Development Site
Transaction Type:Sale
The transaction involved a development site located at 85 West Green Street in Pasadena, which was sold for a total of $2,000,000. This property represents an opportunity in the real estate market targeting development potential. The asset type falls under the category of development sites, aligning with the buyer's investment strategy in the region.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,000,000
- Buyer: Kang Wang
- Seller: Jack Guiragosian
- Brokers: Brandon Michaels & Emin Gabrimasshih - Marcus & Millichap
- Date of Sale: 09/19/2025
The deal highlights the involvement of Brandon Michaels and Emin Gabrimasshih as brokers from Marcus & Millichap, representing the transaction and facilitating the negotiations between the buyer and seller. Their expertise played a crucial role in the successful closing of the deal in the competitive Pasadena market.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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