Optimus Properties Acquires Multifamily Property In Pasadena For $9.45M
400 North Los Robles Avenue, Pasadena, CA, USA
$9,450,000
$277/SF
Building Size
34,028 SF
Asset Type
MultiFamily
Closing
Apr 13, 2020
AI
An apartment building located at 400 North Los Robles Avenue in Pasadena has been sold along with an adjacent land parcel. The sale took place on April 14, 2020, and the buyer was Optimus Properties. The seller, Sean Cochran, successfully closed the transaction with the assistance of brokers Sean Rosenzweig and Barry Gordon. The property is a multifamily asset comprising 38 units and spanning a total area of 34,028 square feet. The sale price was recorded at $9,450,000, translating to a price per square foot of $277.71. The price per unit amounts to $248,684.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,450,000
- Square Footage: 34,028
- Address: 400 North Los Robles Avenue, Pasadena
- Market: Pasadena
- Buyer: Optimus Properties
- Seller: Sean Cochran
- Brokers: Sean Rosenzweig & Barry Gordon
It's worth noting that the apartment building and the adjacent land parcel were both included in the transaction.
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
1.68%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93