SOLD
Marcus & Millichap Facilitates $4M Sale Of 18-Unit Multifamily Property In South Pasadena
1471 Fair Oaks Avenue
MultiFamily
Sold 79 days ago
Summary
Sale
CALIFORNIA
MultiFamily
A multifamily property located at 1471 Fair Oaks Avenue in South Pasadena has been sold for $4,000,000. The property consists of 18 units, with each unit being priced at approximately $222,222.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,000,000
- Address: 1471 Fair Oaks Avenue
- Market: South Pasadena
The sale of the property was facilitated by Marcus & Millichap. Rabbie Banafsheha and Tony Azzi, representing Marcus & Millichap, successfully closed the deal within 10 days. The transaction attracted more than 10 offers within 30 days and was finalized with an undisclosed all-cash buyer. The achieved deal at $222,222 per unit resulted in a 4.38% cap rate and a 12.65 gross rent multiplier.
Players
All
3
Agents
2
Agencies
1
Details
SOLD
IMAGE: Rabbie Banafsheha & Tony Azzi
DATE: 02/13/2024
ADDRESS: 1471 Fair Oaks Avenue
MARKET: South Pasadena
ASSET TYPE: Multifamily
BROKERS: Rabbie Banafsheha & Tony Azzi (@The_AzziGroup) - Marcus & Millichap (@MarcusMillichapLosAngeles)
SALE PRICE: $4,000,000
UNITS: 18 ~ PPU: $222,222
NOTE: Marcus & Millichap facilitated the $4 million sale of an 18-unit apartment property at 1471 Fair Oaks Ave. in Pasadena. Tony Azzi and Rabbie Banafsheha handled the transaction, which attracted over 10 offers within 30 days, closed in 10 days to an undisclosed all-cash buyer, and achieved a significant deal at $222,222 per unit with a 4.38% cap rate and a 12.65 gross rent multiplier.View on map
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Address1471 Fair Oaks Avenue
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