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176 Michigan Avenue
Pasadena, CA 91106
Sold
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.
PROPERTY INFORMATION
| MLS # | PW22247549 | Lot Size | 7,723 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Apartment |
| Price | $ 2,100,000
Price Per SqFt: $ 599 |
DOM | 914 Days |
| Address | 176 Michigan Avenue | Type | Residential Income |
| City | Pasadena | Sq.Ft. | 3,506 Sq. Ft. |
| Postal Code | 91106 | Garage | N/A |
| County | Los Angeles | Year Built | 1898 |
| Bed / Bath | 3 / 0 | Parking | N/A |
| Built In | 1898 | Status | Closed |
| Sold Date | 2023-08-21 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Community |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
Walk Score: 92 (Walker's Paradise)
Transit Score: 60 (Good Transit)MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,240
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 01/03/2023 | Price Change | $2,100,000 (-2.33%) |
| 11/28/2022 | Listed | $2,150,000 |
Topfind Realty
REALTOR®
(844)-333-8033
Questions? Contact today.
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Listing provided courtesy of Gary Tolfa, Triqor Group. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
