Robert Ip's Coldwell Banker Commercial Acquires Multifamily In Pasadena For $17.2M
SOLD
$17,212,500
California
See Similar DealsMultiFamily35,093 SF
Sold 12/04/2020
SOLD
Robert Ip's Coldwell Banker Commercial Acquires Multifamily In Pasadena For $17.2M
712 East Walnut Street, Pasadena, CA, USA
See Similar DealsMultiFamily35,093 SF
Sold 12/04/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$490
Total Square Footage:35,093 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$918,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$61,152.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$81,596.03
Annual Debt Service$979,152.38
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