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913 Boston Ct, Pasadena, CA...

913 Boston Ct In Pasadena Sells As Development Site For $1.6M With Brokers Filip Niculete, Glen Scher, Lonnie McDermott
SOLDDevelopment Site

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

$1,600,000

$245/SF

Building Size

6,523 SF

Asset Type

Development Site

Closing

Sep 5, 2019

AI

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.

Players

Filip Niculete

Marcus & Millichap

Broker

$792.7M

vol

200 deals

Broker

Pasadena Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.91%

Cash-on-Cash

-2.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93