Marcus & Millichap, Coldwell Banker Sell 8-Unit Multifamily Property For $3.6M In Pasadena

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.