65 North Catalina Avenue LLC Acquires Pasadena Property From Gaylaird W. Christopher For $3.4M
69 N Catalina Ave, Pasadena, CA, 91106
$3,400,000
$498/SF
Building Size
6,827 SF
Asset Type
Office
Closing
Aug 8, 2017
AI
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
Pasadena Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93