Contact Us

Yes No

165 N Michigan Avenue $25,000,000

    Close

    165 N Michigan Avenue Pasadena, CA 91106

    • 0 Beds
    • 0 Baths
    • 42,843 sq. ft.
    • Multi-Family
    • MLS# PW22135759
    Favorite Share
    Views: 9 Days On Market: 57

    Go Tour This Listing

    Schedule A Showing

    Property Details

    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.

    • General Features
      • Buyer Compensation 1.000 %
      • County Or Parish Los Angeles
      • Number Of Buildings 1
      • Number Of Separate Electric Meters 0
      • Number Of Separate Gas Meters 0
      • Number Of Separate Water Meters 0
      • Number Of Units Total 46
      • YearBuilt 1964
    • Building Features
      • Laundry Features Common Area
    • Property Features
      • Lot Size Acres 0.5
      • Pool Private Y/N 0
      • Pool Features None
      • Parking Total 0.00

    Contact

    Neighborhood

    91106 (Pasadena) Demographics

    34 Median Age
    8,554 Population Density (per sq. mile)
    67% College Educated
    $84,782 Estimated Median Income
    3,685 Estimated Total Home Owners
    6,972 Estimated Total Renters
    35% / 65% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    25,205 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $815,334 Median Sales Price
    18 Homes Sold
    20 New On Market

    Average Days on Market

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $25,000,000
        6/22/2022 12:32:00 PM New in Database Source: Multiple Listing Service New Value: $25,000,000

        Payment Calculator

        $0 per month
        Year Fixed, Interest
        Principal and Interest
        $0
        Property Taxes
        Homeowners' Insurance

        Home Price
        Down Payment
        * This payment calculator is intended for educational and planning purposes only.
        ** Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Based on information from California Regional Multiple Listing Service, Inc. as of 8/18/2022 3:48:56 AM. 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.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.