Updated Aug 14, 2026
SOLDMultiFamily
Prasad Garimella Acquires Pasadena Multifamily Property From Richard Chu For $1.82M
59 South Sierra Madre Boulevard
$1,820,000
$403/SF
Building Size
4,510 SF
Asset Type
MultiFamily
Closing
Jul 31, 2026
About this deal
AI
The asset involved in this transaction is a multifamily property located at 59 South Sierra Madre Boulevard in Pasadena. The sale price for this property was $1,820,000, and it comprises 7 units. The total square footage of the property is 4,510, which results in a price per unit of $260,000 and a price per square foot of $403.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,820,000
- Units: 7
- Square Footage: 4,510
- Price Per Unit: $260,000
- Price Per Square Foot: $403
- Buyer: Prasad Garimella
- Seller: Richard Chu
- Broker Representatives: Tony Azzi, Kristen Sullivan & Rabbie Banafsheha - Marcus & Millichap
This transaction was facilitated by broker representatives Tony Azzi, Kristen Sullivan, and Rabbie Banafsheha from Marcus & Millichap, who represented the parties involved in the sale. Their professional involvement contributed to the successful completion of this multifamily property 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
8.72%
Cash-on-Cash
-2.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93