Properties
Pasadena, CA 91106 144 N Michigan
$5,900,000
Presented By: Michael Belzer with Westside Management Group; 310 849-5432
Baths • 1
SQFT • 19,994
Garage • 29
Home Details
15-unit apartment building in the highly-desirable city of Pasadena, California. This offering presents a rare opportunity for an investor to acquire a very well-located apartment community with low tenant turnover in one of the strongest sub-markets in the West San Gabriel Valley. Located within walking distance of the world-renowned California Institute of Technology, and Pasadena City College. Has high "walkability" to a variety of nearby amenities such as restaurants, shops, health clubs and entertainment venues.
This property is a three story building built in 1987. Offers a superb mix of one (1) 3bed + 2-1/2 bath townhouse style, two (2) 3bed + 2bath, and twelve (12) 2bed+1bath units. Total building is 15,714 sq ft which translates to a large average unit size per unit. Each unit is separately metered for electricity and gas, and equipped with stackable washer/dryers, private balcony(ies), dishwashers, microwaves and refrigerators. It is modernly equipped with copper pipe plumbing, elevator, fire sprinkler system, secured entrance, intercom system and CCTV cameras.
Parking is provided by subterranean parking, with a total of 29 parking and storage spaces in the parking area.
Presented By: Michael Belzer with Westside Management Group; 310 849-5432
Interior Features for 144 N Michigan
Other Interior Features
Air Conditioning Y/NYes
Common Walls2+ Common Walls
FlooringCarpet, Laminate, Tile
Heating Y/NYes
Interior AmenitiesBalcony, Ceiling Fan(s), Elevator, Granite Counters, Intercom, Laminate Counters, Multiple Staircases, Storage, All Bedrooms Down
Laundry FeaturesStacked
Total Stories3
Window FeaturesBlinds, Screens
Other Rooms
Entry Level1
General for 144 N Michigan
Additional Parcels Y/NNo
AppliancesDishwasher, Disposal, Gas Oven, Gas Range, Microwave, Refrigerator, Dryer, Washer
Architectural StyleContemporary
Building Area UnitsSquare Feet
Cap Rate4.5
Carport Spaces
CityPasadena
Community FeaturesStorm Drain(s), Street Lights, Sidewalks, Urban
Construction MaterialsCopper Plumbing
CoolingElectric, Wall/Window Unit(s)
CountyLos Angeles
Current FinancingNone
DirectionsSouth of E Walnut; North of Union St; West of N Chester; East of Mar Vista
DisclosuresRent Control
ElectricStandard
Electric Expense4800
Entry Location1
Facing DirectionWest
Fuel Expense
Garage Spaces29
Garage Y/NYes
Gross Income431016
HOANo
HOA Fee$
HeatingNatural Gas, Wall Furnace
Insurance Expense28528
Land Lease Y/NNo
LevelsThree Or More
Listing TermsCash, Conventional, 1031 Exchange
Lot Size Square Feet15443
Lot Size UnitsSquare Feet
MLS Area646 - Pasadena (NE)
MaintenanceExpense172406
Net Operating Income257963
New ConstructionNo
Number Of Units Total15
Number of Units Leased15
Open Parking Spaces0
Operating Expense171975
Pool FeaturesNone
PossessionClose Of Escrow
PostalCityPASADENA
Property Attached Y/NYes
Property ConditionTurnkey
Property Sub Type AdditionalMixed Use
Property SubtypeMixed Use
Property TypeResidential Income
Rent Control Y/NYes
RoofAsphalt
Security FeaturesClosed Circuit Camera(s), Carbon Monoxide Detector(s), Fire Detection System, Fire Sprinkler System, Security Gate, Smoke Detector(s), Security Lights
Senior Community Y/NNo
SewerPublic Sewer
Spa FeaturesNone
Special Listing ConditionsStandard, No Smoking
Standard StatusActive
StatusActive
Tax Annual Amount84414.6
Tax Lot28
Tax Year2026
Tenant PaysCable TV, Electricity, Gas, Insurance, Telephone
Total Actual Rent35918
Trash Expense31392
UtilitiesCable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Underground Utilities, Water Connected
ViewNone
Water Sewer Expense7796
Year Built1987
Year Built SourcePublic Records
Exterior for 144 N Michigan
Building Area Total19994
Exterior AmenitiesLighting, Rain Gutters
FencingNone
Lot FeaturesLandscaped, Near Public Transit, Sprinkler System
Lot Size Acres0.3545
Lot Size Area15443
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters15
Number of Separate Gas Meters15
Number of Separate Water Meters0
Other EquipmentIntercom
Parking FeaturesAssigned, Controlled Entrance, Concrete, Covered, Driveway Down Slope From Street, Direct Access, Electric Gate, Garage, Gated, On Site, Storage
Private PoolNo
Road Frontage TypeCity Street
Road Surface TypePaved
SpaNo
Total Parking29
Water SourcePublic
Additional Details
Price History
Schools
High School
Hubert H Humphrey Middle School
Middle School
N/A
Elementary School
Big Hollow Elementary School
