913 Boston Ct In Pasadena Sells As Development Site For $1.6M With Brokers Filip Niculete, Glen Scher, Lonnie McDermott
SOLD
$1,600,000
California
See Similar DealsDevelopment Site6,523 SF
Sold 09/06/2019
SOLD
913 Boston Ct In Pasadena Sells As Development Site For $1.6M With Brokers Filip Niculete, Glen Scher, Lonnie McDermott
913 Boston Ct, Pasadena, CA, USA
See Similar DealsDevelopment Site6,523 SF
Sold 09/06/2019
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$245
Total Square Footage:6,523 SF
Transaction Type:Sale
Located at 913 Boston Ct in Pasadena, this development site was recently sold for $1,600,000. The property, with a building square footage (BSF) of 6,523, offers a price per building square footage (PPBSF) of $245.29. The transaction took place on 09/06/2019, and the deal was facilitated by Filip Niculete, Glen Scher, and Lonnie McDermott of LA Apartment Advisors.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,600,000
- BSF: 6,523
- PPBSF: $245.29
- Date: 09/06/2019
- Address: 913 Boston Ct
- Market: Pasadena
Filip Niculete, Glen Scher, and Lonnie McDermott, of LA Apartment Advisors, spearheaded the successful sale of this development site in Pasadena. Their expertise and negotiation skills played a crucial role in finalizing the deal and achieving the sale price of $1,600,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80
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