165 Michigan Avenue, Pasadena, CA 91106
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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
- DMCA Notice
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DescriptionWe 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.
Property Location and Similar Properties
Features
Building Area Total
- 42843.00
Commoninterest
- Community Apartment
Common Walls
- 2+ Common Walls
Country
- US
Electric Expense
- 0.00
Fuel Expense
- 0.00
Garage Spaces
- 52.00
Insurance Expense
- 0.00
Laundry Features
- Common Area
Lot Features
- Irregular Lot
Netoperatingincome
- 844580.00
Number Of Separate Gas Meters
- 46
Parcel Number
- 5738014023
Pool Features
- None
Professionalmanagementexpense
- 0.00
Property Type
- Apartment
Sewer
- Public Sewer
Sourcesystemid
- CRM
Sourcesystemkey
- 433825307:CRM
Totalexpenses
- 444563.00
Trash Expense
- 0.00
Water Sewer Expense
- 0.00
Water Source
- Public
Year Built
- 1964
Year Built Source
- Public Records
Zoning
- PSR4