147 North Michigan Avenue

Pasadena, CA 91106

$3,200,000
Price
6
Beds
12
Baths
6,050 Sq. Ft.
$529 / Sq. Ft.
6,050
Sq. Ft.
$529
per Sq. Ft.

Description

Significant Price Drop... Highly Motivated Seller... This meticulously maintained 7-unit building, located in a prime area just south of the 210 freeway in Pasadena, spans 6,050 rentable square feet and offers a mix of unit configurations: one unit with 3 bedrooms and 2 bathrooms, four units with 2 bedrooms and 2 bathrooms, and two units with 1 bedroom and 1 bathroom. Each unit boasts spacious layouts with abundant natural light and excellent ventilation. Completely remodeled in 2017, all 7 units...Significant Price Drop... Highly Motivated Seller... This meticulously maintained 7-unit building, located in a prime area just south of the 210 freeway in Pasadena, spans 6,050 rentable square feet and offers a mix of unit configurations: one unit with 3 bedrooms and 2 bathrooms, four units with 2 bedrooms and 2 bathrooms, and two units with 1 bedroom and 1 bathroom. Each unit boasts spacious layouts with abundant natural light and excellent ventilation. Completely remodeled in 2017, all 7 units feature copper piping, central AC/Heat, new kitchens, bathroom, and flooring throughout. Three units also feature in-unit laundry, offering added convenience to these modern, comfortable living spaces. Recent upgrades include a newly constructed electrical room with a 400-amp main breaker panel, ensuring compliance with city code at 60 amps per unit. Ideally located just minutes from Old Town Pasadena with easy freeway access, the property is close to Pasadena City College, Cal Tech, The Rose Bowl, and the Rose Parade Route. Colorado Boulevard’s top restaurants and amenities are nearby, enhancing its appeal to tenants. Its prime location and high demand ensure strong long-term returns and a solid hedge against inflation.
  1. Listed by Kuangkai Kuo • DRE #01849263 • Brokerage DRE #02056372 • In Realty Inc. • 626-802-0335

Property Details for 147 North Michigan Avenue

Parking Spaces Total
7
Private Pool
No
Cooling Type
Central Forced Air
Total Units
7.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
6050
Assessor Parcel Number
5738-014-012
LISTING UPDATED: 10/02/2024 01:27 PM

Property Details for 147 North Michigan Avenue

StatusActive
MLS #AR24185038
Days on Market73
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1956
CountyLos Angeles County

Building Information for 147 North Michigan Avenue

Building/Complex147 N Michigan AveFloor-Stories2Residences-Pet Policy-Year Built1956Building Size-

Property Information for 147 North Michigan Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $163,184
  • Gross Scheduled Income: $226,500
  • Net Operating Income: $163,184
  • Current Financing: Conventional
Expense Details
  • Operating Expense: $63,316
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $6,368
  • Maintenance Expense: $9,440
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $7,550
  • Total Expenses: $63,316
Tax / Assessment Info
  • Tax Tract Number: 0
  • Tax Census Tract: 4623.02
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 39
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Curbs, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside, Stackable
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Lot 6500-9999
  • Number Of Units: 7
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned
  • Uncovered Spaces: 2
  • Open Other Spaces Total: 2
  • Parking Garage Spaces: 0
  • Carport Spaces: 5
  • Parking Features: Assigned
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Garage Spaces: 1
  • Unit Type Actual Rent: $3,300
  • Unit Type Total Rent: $3,300
  • Unit Type Pro Forma: 3800
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Garage Spaces: 1
  • Unit Type Actual Rent: $2,868
  • Unit Type Total Rent: $11,475
  • Unit Type Pro Forma: 13000
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 1
  • Unit Type Actual Rent: $2,050
  • Unit Type Total Rent: $4,100
  • Unit Type Pro Forma: 5000
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1

Property History for 147 North Michigan Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 147 North Michigan Avenue

Taxable ValueLand$2,469,088Additions$1,058,798Total$3,527,886
Tax Record2024$40,289 ($3,357 / month)
Home Facts
Total Finished SqFt6,050 SqFtAbove Grade Finished SqFt6,050 SqFtLot Size7,925 SqFtStyleMulti-Family Res (5+ Units)Year Built1956ZoningPSR4CountyLOS ANGELESAPN5738-014-012

Schools near 147 North Michigan Avenue

This home is within Pasadena Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 6 to 12
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
McKinley School
PublicK to 8

Blair High School
Public6 to 12

Rose City High (Continuation) School
Public9 to 12

Marshall Fundamental School
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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147 North Michigan Avenue is a multi-family home for sale in Pasadena, CA 91106. This property was listed for sale on September 9, 2024 by In Realty Inc., it's currently listed at $3,200,000. It has been on the market for a total of 73 days and was last sold on May 30, 2017. This listing's school district is Pasadena Unified School District. Nearby schools include McKinley School, Blair High School and Rose City High (Continuation) School. 147 North Michigan Avenue is a 6-bed, 12-bath, 6,050 sqft multi-family home built in 1956.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of In Realty Inc., Kuangkai Kuo, DRE #01849263

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.