Triad Law Center Acquires Office Condo In Pasadena For $4.2M
SOLD
$4,175,000
California
See Similar DealsOffice8,650 SF
Sold 08/11/2023
SOLD
Triad Law Center Acquires Office Condo In Pasadena For $4.2M
388 Cordova St Pasadena, CA 91101, USA
See Similar DealsOffice8,650 SF
Sold 08/11/2023
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$482
Total Square Footage:8,650 SF
Transaction Type:Sale
The office condo located at 388 Cordova Street in Pasadena has been sold for a sale price of $4,175,000. The property spans a total area of 8,650 square feet, resulting in a price per square foot of $483. The transaction took place on August 11, 2023, and involved parties such as the buyer, Triad Law Center, and the seller, JJ Property Investment.
Summary of Transaction Details
- Property Type: Office Condo
- Transaction Amount: $4,175,000
- Address: 388 Cordova Street
- Market: Pasadena
Tina LaMonica from NAI Capital represented the buyer, Triad Law Center, in the deal, while Steve Chang from KW Commercial acted as the seller's representative for JJ Property Investment.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$222,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,832.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,791.63
Annual Debt Service$237,499.56
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