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
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