facebook

traded

+ Submit
Home

/

Deals

/

California

/

Office

/

Sale

/

69 N Catalina Ave, Pasadena...

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

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

Chalvis Evans

CBRE

Broker

$84.7M

vol

4 deals

Broker

Pasadena Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

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