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165 N Michigan Ave
Pasadena, CA 91106
Michigan Apartments · Multifamily Property For Sale
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46 Units
Investment Highlights
- High Demand Location Near California Institute of Technology, Pasadena City College, and Old Town Pasadena
- Well-Maintained and Substantially Remodeled with High-End Finishes
- Excellent Unit Mix Consisting of Majority 1000 Sq. Ft. 2-Bedroom 2-Bath Units
- 6.1% Cap Rate with Market Rents
Property Facts
| No. Units | 46 | Lot Size | 0.52 AC |
| Property Type | Multifamily | Building Size | 42,843 SF |
| Property Subtype | Apartment | No. Stories | 5 |
| Apartment Style | Mid-Rise | Year Built | 1964 |
| Building Class | C | Parking Ratio | 1.21/1,000 SF |
| Zoning | RM48, Pasadena | ||
| No. Units | 46 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.52 AC |
| Building Size | 42,843 SF |
| No. Stories | 5 |
| Year Built | 1964 |
| Parking Ratio | 1.21/1,000 SF |
| Zoning | RM48, Pasadena |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Microwave
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Freezer
- Patio
- Vinyl Flooring
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Elevator
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,500 | 500 |
| 1+1 | 18 | $2,099 | 700 |
| 2+2 | 25 | $2,711 | 1,000 - 1,200 |
| 3+2 | 2 | $3,320 | 1,700 |
Property Taxes
| Parcel Number | 5738-014-023 | Improvements Assessment | $6,246,904 |
| Land Assessment | $9,370,357 | Total Assessment | $15,617,261 |
Property Taxes
Parcel Number
5738-014-023
Land Assessment
$9,370,357
Improvements Assessment
$6,246,904
Total Assessment
$15,617,261
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