Updated Dec 21, 2023
Marcus & Millichap, Coldwell Banker Sell 8-Unit Multifamily Property For $3.6M In Pasadena
55 Arlington Drive, Pasadena, CA 91105, USA
$3,600,000
$496/SF
Building Size
7,258 SF
Asset Type
MultiFamily
Closing
Apr 29, 2019
About this deal
AI
A multifamily property located at 55 Arlington Dr in Pasadena has been sold. The property consists of 8 units with a total square footage of 7,258. The sale price for this transaction was $3,600,000, resulting in a price per square foot of $496. The price per unit was $450,000. The capitalization rate for this property is 4.35% and the gross rent multiplier is 15.75.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,600,000
- Square Footage: 7,258
- Price per Square Foot: $496
- Number of Units: 8
- Price per Unit: $450,000
- Capitalization Rate: 4.35%
- Gross Rent Multiplier: 15.75
- Market: Pasadena
The sale of this property was facilitated by the following brokers: Filip Niculete, Glen Scher, and Edward Chao from Marcus & Millichap, as well as Nicholas Borelli from Coldwell Banker.
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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93