Pleased to present the Michigan Apartments, a 45+1-unit apartment community located in the coveted city of Pasadena, CA. The building features amenities such as large patios/balconies, newly constructed laundry facility, controlled access, and a subterranean parking garage. The property has undergone extensive capital improvements in recent years giving it a modern appeal. Some of these upgrades include updated landscaping, modernized interiors & exteriors, new roof, top of the line security system, new mail-room, and all new windows and sliders. Approximately 57% (26 units) of units have been extensively renovated with laminate wood flooring, quartz counter-tops, stainless steel appliances, air-conditioning, and ceiling fans. Current management has implemented a Ratio Utility Billing System (RUBS) which has increased the building's efficiency. This is a well maintained, nearly turnkey opportunity with a proven concept and clear investment potential.
|--||New Value: $25,000,000|
|6/22/2022 12:32:00 PM||New Value: $25,000,000|