Eleanor Ramirez Acquires Multifamily Property In Pasadena For $1.35M
290 Lola Avenue, Pasadena, CA 91107, USA
$1,350,000
$602/SF
Building Size
2,240 SF
Asset Type
MultiFamily
Closing
Aug 8, 2019
AI
A multifamily property located at 288-290 Lola Ave in Pasadena was recently sold for $1,350,000. The property consists of a newly constructed duplex and spans 2,240 square feet. The price per square foot for this transaction was $602.68.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,350,000
- Address: 288-290 Lola Ave
- Market: Pasadena
The buyer of the property was Eleanor Ramirez, while Naji Garabet acted as the seller. The transaction was facilitated by brokers Dana Coronado from KW Commercial and Winnie Hsiao from MGR Real Estate. Notably, this purchase served as the buyer's upleg in a 1031 exchange.
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
11.75%
Cash-on-Cash
-3.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93