CBRE Acquires Multifamily Property In Pasadena For $14M
165 North Michigan Avenue, Pasadena, CA 91106, USA
$14,000,000
$326/SF
Building Size
42,843 SF
Asset Type
MultiFamily
Closing
Jan 9, 2019
AI
The multifamily property located at 165 N. Michigan Ave in Pasadena has been sold for $14,000,000. Covering an area of 42,843 square feet, the property consists of 45 units. The sale price per square foot was $326. The transaction took place on January 10, 2019.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Address: 165 N. Michigan Ave
- Market: Pasadena
- Total Square Feet: 42,843
- Price per Square Foot: $326
- Number of Units: 45
The sale of the property was facilitated by broker Priscilla Nee from CBRE.
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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93