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65 North Catalina Avenue LLC Acquires Pasadena Property From Gaylaird W. Christopher For $3.4M

Property Image
SOLD
$3,400,000
David Kutzer

California

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Office6,827 SF
Sold 08/08/2017
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Property Image
SOLD

65 North Catalina Avenue LLC Acquires Pasadena Property From Gaylaird W. Christopher For $3.4M

69 N Catalina Ave, Pasadena, CA, 91106

See Similar Deals
Office6,827 SF
Sold 08/08/2017
David Kutzer
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$498
Total Square Footage:6,827 SF
Transaction Type:Sale

The property involved in this transaction is a historic Craftsman office building located at 69 N Catalina Ave, Pasadena, CA 91106. The sale price was $3,400,000.00 for a total area of 6,827 square feet. This property, known as the Sanborn House, consists of three separate buildings on one parcel and has been renovated and preserved by the sellers, Gaylaird W. Christopher and Gayle A. Christopher.

Summary of transaction details:

  • Property Type: Office Building
  • Transaction Amount: $3,400,000.00
  • Address: 69 N Catalina Ave, Pasadena, CA 91106
  • Market: Pasadena
  • Buyer: 65 North Catalina Avenue LLC
  • Seller: Gaylaird W. Christopher and Gayle A. Christopher
  • Buyer’s Representative: David Kutzer (Cresa)
  • Seller’s Representatives: Kyle Barratt (CBRE), Chalvis Evans (CBRE)
  • Square Footage: 6,827 SF

The Sanborn House is set to be partly occupied by a local real estate investment firm. The current tenants include Hubris Studios, a design and advertising agency. Gaylaird W. Christopher and Gayle A. Christopher are the founders of Architecture for Education, which is planning to relocate to Old Town Pasadena.

Players

Chalvis Evans
4 deals$84.7M volume(818) 907-4635
BROKER


David Kutzer
Cresa
2 deals$3.4M volume(213) 819-4691
BROKER

Details

SOLD
IMAGE: 69 N Catalina Ave, Pasadena, CA, 91106 MARKET: Pasadena BUYER'S REP: David Kutzer(Cresa) SELLER'S REP: Kyle Barratt(CBRE), Chalvis Evans(CBRE) BUYER: 65 North Catalina Avenue LLC SELLER: Gaylaird W. Christopher and Gayle A. Christopher PRICE: $3,400,000.00 SF: 6827

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,079.50
Cash-on-Cash Return-1.27%
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