Updated Dec 4, 2024
Massoud Abib Acquires Multifamily Property In Pasadena For $3.4M With Broker Rep Han Widjaja Chen - Growth Investment Group
642 North Orange Grove Boulevard
$3,400,000
$629/SF
Building Size
5,400 SF
Asset Type
MultiFamily
Closing
Nov 1, 2023
About this deal
AI
The multifamily property located at 642 North Orange Grove Avenue in Pasadena has been sold for $3,400,000. The property consists of 10 units with an average price per unit of $340,000. The total square footage of the property is 5,400, resulting in a price per square foot of $630.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,400,000
- Address: 642 North Orange Grove Avenue
- Market: Pasadena
- Buyer: Massoud Abib
- Seller: Danielle Lee Trust - Wenan Lee
- Brokers: Han Widjaja Chen - Growth Investment Group
- Units: 10
- Price per Unit: $340,000
- Square Footage: 5,400
- Price per Square Foot: $630
The buyer of the property is Massoud Abib, and the seller is the Danielle Lee Trust represented by Wenan Lee. The brokers involved in the transaction are Han Widjaja Chen from Growth Investment Group.
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
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93