160 S Michigan Ave - Multi-Family FOR SALE


Pasadena, CA 91106
$7,995,000 USD
626-821-1216
160 S Michigan Ave, Pasadena, CA for Sale
$7,995,000 USD
Multi-Family - FOR SALE
1/25
null | 4.55% Cap Rate

160 S Michigan Ave
Pasadena, CA 91106


HIGHLIGHTS

  • 2 Blocks to Cal Tech
  • All Units Fully Rehabbed
  • In Unit Wash/Dryer
  • 80% Cooper Plumbing
  • Soft Story Completed
  • All Appliances Included

OVERVIEW

Discover a prime turnkey 3-story apartment building just blocks from the renowned California Institute of Technology. This fully rehabbed property features upgraded electrical systems, 80% replumbed infrastructure, and individual electric meters. The completed soft story retrofit enhances safety and stability, while each unit boasts new bathrooms, kitchens, and flooring. Equipped with in-unit washer/dryer combos, stoves, refrigerators, and microwaves, these apartments are designed for easy rental and high occupancy rates. With its strategic location near Caltech, this property is an outstanding opportunity for investors seeking a cash-flowing asset in a desirable area.

FOR SALE DETAILS

PRICE

$7,995,000 USD

PRICE/SF

$542 USD /SF

# OF UNITS

15

PRICE/UNIT

$533,000

CAP RATE

4.55%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,520 SF

ZONING

-

APN/PARCEL ID

5735-009-014

ASK ABOUT THIS PROPERTY

Matt LyColdwell Banker Commercial RealtyMore Info
626-821-1216

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Matt LyColdwell Banker Commercial RealtyMore Info
626-821-1216

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.