Huang Chang Acquires Multifamily Property In Pasadena From Jack Liu

231 S. Catalina Avenue in Pasadena has been sold in a recent multifamily property transaction. The property consists of 7 units with a total square footage of 6,690. The sale price for this asset was $3,100,000, which exceeded the initial asking price of $2,950,000. The price per unit (PPU) came out to be $442,857, with a price per square foot (PPSF) of $463. The deal closed on 09/29/2021.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $3,100,000
• Units: 7
• Price per Unit: $442,857
• Square Footage: 6,690
• Price per Square Foot: $463

The buyer of 231 S. Catalina Avenue is Huang Chang, while the seller is Jack Liu. The transaction was facilitated by Orbell Ovaness, Ara Rostamian, and Peter Xiao of the Ovaness-Rostamian Group from Marcus & Millichap. The Ovaness-Rostamian Group is known for handling rare multifamily opportunities in Pasadena, and this particular deal attracted multiple offers, resulting in a closing price above the initial asking price. A new loan was secured for the property, and the escrow period lasted for 60 days.

For more information about this transaction and other opportunities, you can visit the website of the Ovaness-Rostamian Group at www.OvanessRostamianGroup.com or get in touch with them directly.