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1573 North Hill Avenue, Pas...

Mian Situ Acquires Mixed-Use Property In Pasadena For $1.2M
SOLDMixed-use

Mian Situ Acquires Mixed-Use Property In Pasadena For $1.2M

1573 North Hill Avenue, Pasadena, CA 91104, USA

$1,195,000

$373/SF

Building Size

3,199 SF

Asset Type

Mixed-use

Closing

Jun 26, 2019

AI

The property asset involved in this transaction is a mixed-use property located at 1573 N. Hill Ave in Pasadena. The property was sold for a price of $1,195,000. It has a total square footage of 3,199, resulting in a price per square foot of $373.55.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: $1,195,000
  • Address: 1573 N. Hill Ave
  • Market: Pasadena
  • Square Footage: 3,199
  • Price per Square Foot: $373.55

The buyer in this transaction is Mian Situ. The seller of the property is Joshua Bunton, representing Gemstone Partners. The deal was facilitated by Casey Picard.

It is worth noting that the asset will be utilized as an art studio / academy by the world-famous painter Mian Situ.

Players

Casey Picard

Aggregate Investment Partners

Broker

$21.2M

vol

7 deals

Broker

Joshua Bunton

Gemstone Partners

Seller

$5.9M

vol

2 deals

Seller

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

13.27%

Cash-on-Cash

-3.79%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93