George Lin Acquires Multifamily Property In South Pasadena For $14.95M
SOLD
California
See Similar DealsMultiFamily39,919 SF
Sold 08/25/2021
SOLD
George Lin Acquires Multifamily Property In South Pasadena For $14.95M
1760 State Street, South Pasadena, CA 91030, USA
See Similar DealsMultiFamily39,919 SF
Sold 08/25/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$374
Total Square Footage:39,919 SF
Transaction Type:Sale
A multifamily property located at 1760 State Street in South Pasadena has been sold in a recent transaction. The property consists of 42 units with a total square footage of 39,919. The sale price for the property was $14,950,000, resulting in a per unit price of $355,952 and a price per square foot of $374. The transaction took place on 08/25/2021.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $14,950,000
- Address: 1760 State Street
- Market: South Pasadena
The buyer of the property is George Lin, while the seller is Mark Hilbert. The transaction was facilitated by brokers Eric Chen and Joyce Goldstein. Eric Chen and Joyce Goldstein represented their respective clients in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$797,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,114.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$70,870.63
Annual Debt Service$850,447.53
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