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700 Locust St, Pasadena, CA...

CBRE Brokers Sell Multifamily Property In Pasadena To Fuller Theological Seminary For $19.3M
SOLDMultiFamily

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

Chalvis Evans

CBRE

Broker

$84.7M

vol

4 deals

Broker

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