176 N Michigan AVE

PASADENA, CA, 91106

$2,100,000

$598 per ft²
$2,100,000
$598 per ft²
Active
Active
 - For Sale
beds
3 Beds
baths
2 Baths
carpenters-square
3,506 ft²
property_type
Multi-family
calendar
Built 1898
We are pleased to present Michigan Apartments, a 5-unit apartment community in Pasadena, CA. The property offers an ideal unit mix of one- and two-bedroom units and is situated near California Institute of Technology, Pasadena City College, and Old Town Pasadena. The property has been overlooked by a professional management company and has undergone recent interior and exterior improvements, such as new windows, kitchens, bathrooms, laminate wood flooring, quartz countertops, and stainless-steel appliances. Additional features include covered parking, a shared laundry facility, and individual water heaters. The front two units of the property were constructed in 1898 and the rear 3-units of the property were built in 1963. With strong in-place rents generating a current cap rate of 4.4%, 5.2% with market rents, this is an inflation and recession proof investment with easy to rent units in an irreplaceable location.
MLS® ID:
PW22247549MR
Listed:
11/27/22
Updated:
3/25/23
Sotheby's International Realty
Gina Valona
Office: (310) 980-9828Email: gina.valona@sothebys.realty

Interior Features

Total Bedrooms
3
Total Bathrooms
2
Laundry Description
Community

Exterior/Building Features

Lot Size
7,723 ft² lot
Sewer
Public Sewer

Other Property Details

Garage
No
Parking
N
View
N
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Zoning
PSR4

Property History

Date
Event
Price
Value
1/3/23
Price Change
$2,100,000
-2%

Courtesy of Triqor Group, Gary Tolfa,
Listing Contact:  

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Gina Valona shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2023 Combined L.A./Westside MLS. All rights reserved.

Data last updated 3/25/23

Sotheby's International Realty
Gina Valona
Office: (310) 980-9828Email: gina.valona@sothebys.realty
Contact