Lake Avenue

1450 and 1460 N. Lake Avenue | Pasadena, CA

28,872 Square Foot Commercial Buildings


Details

Date Purchased: July, 2002
Purchase Price: $2,000,000
Sale Price: $3,548,190
Sale Date: April, 2013
Holding Period: 12 years
Initial Investment: $675,000
Investor Proceeds from Sale: $1,776,374
Internal Rate of Return: 18.5%

Completed Business Plan

  • Acquired 1450 and 1460 N. Lake Avenue in July 2002 when 54% occupied
  • Substantially renovated property. Changed use for half of the property from industrial to medical office.
  • Leased to a stable operating level and distribute cash flow to investors
  • In September 2003 investors were returned 36% of their initial capital investment and in June 2005, investors were returned an additional 29% of their initial capital investment when the property was refinanced
  • Sold the property in April of 2013 for $3,548,190 providing a 18.5% annual IRR to investors for the 12 year holding period

Persius Creative