CityStreet Commercial Acquires Mixed-Use Property In Pasadena For $18M
1384 East Washington Boulevard, Pasadena, California 91104, United States
$18,000,000
$529/SF
Building Size
34,000 SF
Asset Type
Mixed-use
Closing
Dec 10, 2021
AI
A mixed-use property located at 1384 E. Washington Blvd. & 1349 N. Hill Ave. in Pasadena has been sold for a total of $18,000,000. The property spans a size of 34,000 square feet. This transaction took place on 12/10/2021. The price per square foot for this sale was $529.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $18,000,000
- Address: 1384 E. Washington Blvd. & 1349 N. Hill Ave.
- Market: Pasadena
- Buyer's Representative: Elan Kermani - CityStreet Commercial
- Seller's Representatives: Dana Brody & Floyd Shaheen - Marcus & Millichap
- SF: 34,000
- PPSF: $529
The buyer's representative for this transaction was Elan Kermani from CityStreet Commercial, while the seller's representatives were Dana Brody and Floyd Shaheen from Marcus & Millichap. This deal represents a significant sale in the Pasadena market.
Players
Pasadena Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93