Jason Mak Acquires Multifamily Property In Pasadena For $7.95M
SOLD
California
See Similar DealsMultiFamily18,162 SF
Sold 08/25/2021
SOLD
Jason Mak Acquires Multifamily Property In Pasadena For $7.95M
175 South Madison Avenue, Los Angeles, CA 90004, USA
See Similar DealsMultiFamily18,162 SF
Sold 08/25/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$437
Total Square Footage:18,162 SF
Transaction Type:Sale
175 S. Madison Avenue, located in Pasadena, was recently sold in a multifamily transaction. The property consists of 22 units spread across a total of 18,162 square feet.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $7,950,000
- Buyer: Jason Mak
- Seller: Mark Hilbert
- Brokers: Eric Chen & Joyce Goldstein
- Price per Unit: $361,363
- Price per Square Foot: $437
The buyer, Jason Mak, acquired the property from Mark Hilbert. The transaction was facilitated by brokers Eric Chen and Joyce Goldstein.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$424,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,244.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,687.06
Annual Debt Service$452,244.67
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