CBRE Brokers Sell Multifamily Property In Pasadena To Fuller Theological Seminary For $19.3M
700 Locust St, Pasadena, CA 91101, USA
$19,300,000
$364/SF
Building Size
52,934 SF
Asset Type
MultiFamily
Closing
Aug 20, 2020
AI
The multifamily property located at 700 Locust St in Pasadena has been sold for a price of $19,300,000. The property consists of 69 units, resulting in a price per unit of $279,710. The seller of the property was Fuller Theological Seminary.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $19,300,000
- Address: 700 Locust St
- Market: Pasadena
- Units: 69
- Price per Unit: $279,710
The sale of this multifamily property was facilitated by CBRE, with brokers Laurie Lustig-Bower, Kamran Paydar, Chavlis Evans, and Kyle Barratt representing the seller, Fuller Theological Seminary.
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
0.82%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93