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1429 Altadena Drive

Matt Gross Purchases Multifamily Asset At 1429 Altadena Drive Pasadena From Jan Harrington For $1.515M
SOLDMultiFamily

Matt Gross Purchases Multifamily Asset At 1429 Altadena Drive Pasadena From Jan Harrington For $1.515M

1429 Altadena Drive

$1,515,000

$451/SF

Building Size

3,353 SF

Asset Type

MultiFamily

Closing

Sep 4, 2024

AI

The property asset involved in the transaction is located at 1429 Altadena Drive in Pasadena. This multifamily asset sold for $1,515,000 and includes 5 units. It encompasses a total square footage of 3,353, resulting in a price per unit of $303,000 and a price per square foot of $451.

Summary of transaction details:

This transaction was facilitated by broker Daniel Withers, who represents Matthews Real Estate Investment Services. The buyer, Matt Gross, acquired the property from seller Jan Harrington, marking the completion of this multifamily real estate deal.

Players

Daniel Withers

Matthews

Broker

$198.2M

vol

32 deals

Broker

Pasadena MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.47%

Cash-on-Cash

-2.99%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93