Properties
Pasadena, CA 91106 160 S Michigan Avenue
$7,500,000
25 more
Presented By: Matt Cuong Ly with Coldwell Banker Realty; matt.ly@cbcnrt.com
Baths • 1
SQFT • 1
Home Details
Discover a prime turnkey 3-story apartment building just blocks from the renowned California Institute of Technology. This fully rehabbed property features upgraded electrical systems, 80% replumbed infrastructure, and individual electric meters. The completed soft story retrofit enhances safety and stability, while each unit boasts new bathrooms, kitchens, and flooring. Equipped with in-unit washer/dryer combos, stoves, refrigerators, and microwaves, these apartments are designed for easy rental and high occupancy rates. With its strategic location near Caltech, this property is an outstanding opportunity for investors seeking a cash-flowing asset in a desirable area.
Presented By: Matt Cuong Ly with Coldwell Banker Realty; matt.ly@cbcnrt.com
Interior Features for 160 S Michigan Avenue
Other Interior Features
Common Walls2+ Common Walls
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringVinyl
Heating Y/NYes
Laundry FeaturesInside
Total Stories3
Other Rooms
Entry Level1
General for 160 S Michigan Avenue
Additional Parcels Y/NNo
Building Area UnitsSquare Feet
Cap Rate5.19
Carport Spaces15
Carport Y/NYes
CityPasadena
Community FeaturesUrban
Construction MaterialsCopper Plumbing
ContingencyNA
CountyLos Angeles
DirectionsMichigan Ave. & Cordova Ave.
Electric Expense600
Entry LocationGround
Fuel Expense600
Garage Spaces
Garage Y/NNo
Gross Income
HOANo
HOA Fee$
HeatingForced Air
Insurance Expense7500
Land Lease Y/NNo
LevelsThree Or More
Listing TermsCash, Cash to New Loan, 1031 Exchange
Lot Size Square Feet9524
Lot Size UnitsSquare Feet
MLS Area648 - Pasadena (SE)
Net Operating Income383562
New ConstructionNo
Number Of Units Total15
Open Parking Spaces0
Operating Expense211495
Pool FeaturesNone
PostalCityPASADENA
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidential Income
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublic Sewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Tax Lot16
Taxes$937,500
Tenant PaysElectricity, Gas, Sewer, Trash Collection, Water
Trash Expense8120
UtilitiesSee Remarks
Water Sewer Expense8120
Year Built1965
Year Built SourceAssessor
ZoningPSR4
Exterior for 160 S Michigan Avenue
Building Area Total1
Lot Features11-15 Units/Acre
Lot Size Acres0.2186
Lot Size Area9524
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters16
Number of Separate Gas Meters1
Number of Separate Water Meters1
Parking FeaturesAssigned
Private PoolNo
SpaNo
Total Parking15
Water SourcePublic
Additional Details
Price History
Schools
High School
Hubert H Humphrey Middle School
Middle School
N/A
Elementary School
Big Hollow Elementary School
