The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
October 27, 2021
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?





LOS ANGELES COUNTY NEWS
Printer-friendly Version   Email an Associate
South Pasadena Multifamily Property Comps at $356k/Unit

9/07/21

A 42-unit multifamily community in South Pasadena was picked up by a private investor in a $14.95 mil ($356k/unit) deal. Constructed in 1957, the property sits on a one-acre lot at 1760 State St.

The building features a unit mix of one- and two-bedroom apartments with an average size of 950 sf. Amenities include a swimming pool, barbecue and picnic area and a laundry facility. The property is adjacent to I-110, connecting South Pasadena to the Greater Los Angeles metro area.

Eric Chen, Joyce Goldstein and Simon Dillon with CBRE represented the buyer and the seller, a private investor. The sale came in at a 3.23% cap rate.

“This is an incredibly well-located asset that has tremendous upside,” said Chen. “Our team fielded multiple offers during the marketing process and ultimately identified a local San Gabriel Valley buyer to assume the seller’s existing loan.”




Return to the previous page


 


 


 


 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2021 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media