Robert Ip's Coldwell Banker Commercial Acquires Multifamily In Pasadena For $17.2M
712 East Walnut Street, Pasadena, CA, USA
$17,212,500
$490/SF
Building Size
35,093 SF
Asset Type
MultiFamily
Closing
Dec 3, 2020
AI
A multifamily property located at 712 E. Walnut St. in Pasadena has been sold. The transaction took place on 12/04/2020 for a total price of $17,212,500. The property consists of 30 units with an average price per unit of $615,000. It has a total area of 35,093 square feet, resulting in a price per square foot of $490. The property has a capitalization rate of 3.5% and a gross rent multiplier of 17.9x.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,212,500
- Address: 712 E. Walnut St., Pasadena
- Market: Pasadena
- Buyer's Representative: Robert Ip - Coldwell Banker Commercial
The buyer's representative in this deal was Robert Ip from Coldwell Banker Commercial.
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
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93