Silva Babaian  Realtor, Real Estate Agent, Granada Hills, CA

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    165 Michigan Avenue, Pasadena, CA 91106
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    165 Michigan Avenue
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    • MLS#: PW25052653 ( Apartment )
    • Street Address: 165 Michigan Avenue
    • Viewed: 1
    • Price: $21,000,000
    • Price sqft: $0
    • Waterfront: No
    • Year Built: 1964
    • Bldg sqft: 0
    • Days On Market: 4
    • Additional Information
    • County: LOS ANGELES
    • City: Pasadena
    • Zipcode: 91106
    • Provided by: Triqor Group
    • Contact: Ryan Ryan
    • California Regional MLS IDX
    • DMCA Notice
    • Description
      We are pleased to present Michigan Apartments, a 46 unit apartment community situated in the heart of Pasadena, near California Institute of Technology, Pasadena City College, and Downtown Pasadena. The property features an excellent unit mix consisting of majority 2 bedroom 2 bath units with large patios/balconies, high end finishes, and all new windows and sliders. The building has undergone major capital improvements such as a new electrical system, newly installed copper plumbing, new roof (2020), rebuilt laundry facility with state of the art equipment, and a brand new elevator taking tenants from the lower levels to the top floor penthouse units and roof access. The interiors have been tastefully renovated with quartz countertops, new cabinetry, stainless steel appliances, recessed LED lighting, laminate wood flooring, remodeled bathrooms, and new wall HVAC units. The top floor penthouse units are large, have beautiful views, central A/C, and expansive outdoor space. Other features include an outdoor area that can be used as a recreational space for tenants to relax and entertain guests, gated subterranean parking, controlled access, updated landscaping, and a new top of the line security camera system. Current management has implemented a Ratio Utility Billing System (RUBS) which has increased the buildings efficiency. This trophy asset is ideal for investors seeking a brilliantly located property in excellent condition with upside potential.
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    Features
    Building Area Total
    1. 42843.00
    Commoninterest
    1. Community Apartment
    Common Walls
    1. 2+ Common Walls
    Country
    1. US
    Electric Expense
    1. 0.00
    Fuel Expense
    1. 0.00
    Garage Spaces
    1. 52.00
    Insurance Expense
    1. 0.00
    Laundry Features
    1. Common Area
    Lot Features
    1. Irregular Lot
    Netoperatingincome
    1. 844580.00
    Number Of Separate Gas Meters
    1. 46
    Parcel Number
    1. 5738014023
    Pool Features
    1. None
    Professionalmanagementexpense
    1. 0.00
    Property Type
    1. Apartment
    Sewer
    1. Public Sewer
    Sourcesystemid
    1. CRM
    Sourcesystemkey
    1. 433825307:CRM
    Totalexpenses
    1. 444563.00
    Trash Expense
    1. 0.00
    Water Sewer Expense
    1. 0.00
    Water Source
    1. Public
    Year Built
    1. 1964
    Year Built Source
    1. Public Records
    Zoning
    1. PSR4
    Headshot for Associate Silva Babaian
    1. Silva Babaian / Realtor
    2. Coldwell Banker Exclusive
    3. CalBRE Lic # 01365805
    4. Mobile: 818.414.6744
    5. Fax: 818.338.5836