160 Michigan Avenue, Pasadena, CA 91106
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- MLS#: AR24243115 ( Apartment )
- Street Address: 160 Michigan Avenue
- Viewed: 6
- Price: $7,995,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1965
- Bldg sqft: 0
- Days On Market: 33
- Additional Information
- County: LOS ANGELES
- City: Pasadena
- Zipcode: 91106
- Provided by: Coldwell Banker Realty
- Contact: Matt Cuong Matt Cuong
- DMCA Notice
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DescriptionDiscover 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.
Property Location and Similar Properties
Features
Appliances
- Gas Range
Building Area Total
- 14742.00
Carport Spaces
- 15.00
Commoninterest
- Community Apartment
Common Walls
- 2+ Common Walls
Cooling
- Wall/Window Unit(s)
Country
- US
Direction Faces
- West
Electric Expense
- 0.00
Entry Location
- Front
Fireplace Features
- None
Foundation Details
- Combination
Fuel Expense
- 0.00
Garage Spaces
- 0.00
Heating
- Wall Furnace
Insurance Expense
- 12000.00
Laundry Equipment Own Lease
- Own
Laundry Features
- Inside
Laundry Income
- 0.00
Levels
- Three Or More
Lot Features
- 11-15 Units/Acre
Netoperatingincome
- 363684.00
Newtaxesexpense
- 99938.00
Number Of Separate Electric Meters
- 16
Otherexpense
- 83982.00
Parcel Number
- 5735009014
Parking Features
- Assigned
Pool Features
- None
Professionalmanagementexpense
- 0.00
Property Type
- Apartment
Property Condition
- Turnkey
Roof
- Rolled/Hot Mop
Sewer
- Public Sewer
Sourcesystemid
- CRM
Sourcesystemkey
- 428113376:CRM
Spa Features
- None
Tenant Pays
- Electricity
Totalexpenses
- 235920.00
Trash Expense
- 0.00
Utilities
- Electricity Connected
- Sewer Connected
- Water Connected
Vacancyallowance
- 17422
View
- Mountain(s)
Water Sewer Expense
- 0.00
Water Source
- Public
Year Built
- 1965
Year Built Source
- Assessor
Zoning
- PSR4