Marcus & Millichap Facilitates $3.5M Sale Of Multifamily Property In Pasadena

The multifamily property located at 435 S Hudson Ave in Pasadena was recently sold for $3,500,000. The property has a total square footage of 7,494 and consists of 9 units. The price per square foot is approximately $467.48 and the price per unit is $388,889. The capitalization rate, or CAP, for this transaction is 4.10% and the gross rent multiplier, or GRM, is 16.84. This sale was facilitated by Filip Niculete, Glen Scher, and Edward Chao from Marcus & Millichap under the representation of LA Apartment Advisors.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,500,000
• Square Footage: 7,494
• Price per Square Foot: $467.48
• Number of Units: 9
• Price per Unit: $388,889
• Capitalization Rate (CAP): 4.10%
• Gross Rent Multiplier (GRM): 16.84

The sale of this multifamily property in Pasadena was successfully executed with the assistance of Filip Niculete, Glen Scher, and Edward Chao from Marcus & Millichap. Their expertise and guidance were instrumental in closing the deal.