Matt Gross Purchases Multifamily Asset At 1429 Altadena Drive Pasadena From Jan Harrington For $1.515M
SOLD
$1,515,000
California
See Similar DealsMultiFamily3,353 SF
Sold 09/04/2024
SOLD
Matt Gross Purchases Multifamily Asset At 1429 Altadena Drive Pasadena From Jan Harrington For $1.515M
1429 Altadena Drive
See Similar DealsMultiFamily3,353 SF
Sold 09/04/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$451
Total Square Footage:3,353 SF
Transaction Type:Sale
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:
- Property Type: Multifamily
- Transaction Amount: $1,515,000
- Units: 5
- Price per Unit: $303,000
- Square Footage: 3,353
- Price per Square Foot: $451
- Buyer: Matt Gross
- Seller: Jan Harrington
- Broker: Daniel Withers - Matthews Real Estate Investment Services
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$80,800.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,382.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,181.87
Annual Debt Service$86,182.48
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