160 South Michigan Avenue

Pasadena, CA 91106

$7,995,000
Price
19
Beds
24
Baths
14,742 Sq. Ft.
$542 / Sq. Ft.
14,742
Sq. Ft.
$542
per Sq. Ft.

Description

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...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.
  1. Listed by Matt Cuong Ly • DRE #01441481 • Brokerage DRE #00616212 • Coldwell Banker Realty • matt.ly@cbcnrt.com

Property Details for 160 South Michigan Avenue

View
Mountain(s)
Parking Spaces Total
15
Private Pool
No
Cooling Type
Wall/Window Unit(s)
Total Units
15.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
14742
LISTING UPDATED: 12/04/2024 01:52 AM

Property Details for 160 South Michigan Avenue

StatusActive
MLS #AR24243115
Days on MarketListed Today
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Apartment
Year Built1965
CountyLos Angeles County

Building Information for 160 South Michigan Avenue

Building/Complex160 S Michigan AveFloor-Stories3Residences-Pet Policy-Year Built1965Building Size-

Property Information for 160 South Michigan Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity
Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $617,026
  • Vacancy Allowance: 17422
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $599,604
  • Net Operating Income: $363,684
  • Number Of Rented Garages: 0
  • Garage Income: $0
  • Laundry Income: $0
  • Gross Multiplier: 12.96
  • Cap Rate: 4.55
Expense Details
  • Operating Expense: $235,920
  • New Taxes Expense: $99,938
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $12,000
  • Maintenance Expense: $40,000
  • Professional Management Expense: $0
  • Other Expense: $83,982
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $235,920
Tax / Assessment Info
  • Tax Block: 1
  • Tax Tract Number: 0
  • Tax Census Tract: 4635.00
  • Tax Lot: 16
Community / Development
Community / Development
  • Community Features: Urban
Property / Structure Info
Interior Features
  • Appliances: Gas Range
  • Equipment: Inside
  • Laundry: Yes
  • Laundry Features: Inside
  • Laundry Equipment Own Lease: Own
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Wall
  • Heating: Wall Furnace
Exterior Features
  • Roof: Rolled/Hot Mop
  • Entry Location: Front
  • Foundation Details: Combination
  • Property Condition: Turnkey
  • Pool Features: None
  • Pool Description: None
  • Spa Features: None
Land/Lot Info
  • Lot Features: 11-15 Units/Acre
  • Direction Faces: West
  • Number Of Units: 15
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Three Or More
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Sewer Connected, Water Connected
  • Electric: Electricity Connected, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned
  • Parking Garage Spaces: 0
  • Carport Spaces: 15
  • Parking Features: Assigned
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,695
  • Unit Type Total Rent: $10,780
  • Unit Type Pro Forma: 10780
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,795
  • Unit Type Total Rent: $5,590
  • Unit Type Pro Forma: 5590
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,100
  • Unit Type Total Rent: $3,100
  • Unit Type Pro Forma: 3100
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,595
  • Unit Type Total Rent: $7,190
  • Unit Type Pro Forma: 7190
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,600
  • Unit Type Total Rent: $14,400
  • Unit Type Pro Forma: 14400
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,700
  • Unit Type Total Rent: $3,700
  • Unit Type Pro Forma: 3700
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $4,100
  • Unit Type Total Rent: $4,100
  • Unit Type Pro Forma: 4100
  • Unit Type Type: 7
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1

Property History for 160 South 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 160 South Michigan Avenue

Taxable ValueLand$3,377,435Additions$1,447,851Total$4,825,286
Tax Record2024$56,232 ($4,686 / month)
Home Facts
Total Finished SqFt14,742 SqFtAbove Grade Finished SqFt14,742 SqFtLot Size9,521 SqFtStyleMulti-Family Res (5+ Units)Year Built1965ZoningPSR4CountyLOS ANGELESAPN5735-009-014

Schools near 160 South 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

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

160 South Michigan Avenue is a multi-family home for sale in Pasadena, CA 91106. This property was listed for sale on December 4, 2024 by Coldwell Banker Realty, it's currently listed at $7,995,000. It has been on the market for a total of 0 days and was last sold on April 10, 2020. This listing's school district is Pasadena Unified School District. Nearby schools include McKinley School, Blair High School and Rose City High (Continuation) School. 160 South Michigan Avenue is a 19-bed, 24-bath, 14,742 sqft multi-family home built in 1965.

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 Coldwell Banker Realty, Matt Cuong Ly, DRE #01441481

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.