The multifamily property located at 700 Locust St, Pasadena, CA has been acquired for $19.3 million. The property, situated in the Pasadena market, was originally built in 1987 and features 69 apartments with a combination of studio, one-, and two-bedroom layouts. The seller recently undertook various upgrades to the asset, which includes improvements to the elevator and stairwell as well as a complete renovation of the conference room. The community amenities are highlighted by a fitness room, library, internet lounge, courtyards, large conference room, and a reception room.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $19,300,000.00
• Address: 700 Locust St, Pasadena, CA, 91101
• Market: Pasadena
• Seller's Representative: Laurie Lustig-Bower, Chavlis Evans, CBRE
• Buyer: Private Investor
• Number of Apartments: 69
• Year Built: 1987

The buyer was self-represented in the transaction. Additional representatives from CBRE involved in the deal include Kamran Paydar and Kyle Barratt. The property is conveniently located adjacent to Interstate 210 and within a mile of both the Lark Avenue and Memorial Park Metro Gold Line transit stations.