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:
- 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.
Players
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