LWK Partners Acquires Multifamily Property In Pasadena For $12.9 Million From Arlene Vicente

The multifamily asset located at 820 North Raymond Avenue in Pasadena was sold for $12,900,000. This property contains 50 units and encompasses a total square footage of 36,228, resulting in a price per unit of $258,000 and a price per square foot of $356.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $12,900,000
• Address: 820 North Raymond Avenue
• Market: Pasadena
• Units: 50
• Price per Unit: $258,000
• Square Footage: 36,228
• Price per Square Foot: $356
• Buyer: Matt Carney & Austin Nissly - LWK Partners
• Seller: Arlene Vicente
• Brokers: Han Widjaja Chen - Growth Investment Group; Maria Elena Santos - Figure 8 Realty

LWK Partners and Cypress Equity Investments acquired the property in January as part of their strategy to expand workforce housing density in Pasadena. This marks LWK Partners' 34th multifamily acquisition in the Greater Los Angeles Area.