147 N Michigan AVE Pasadena, CA 91106
Active
$3,200,000
9%
7 Units
6 Beds
5 Baths
6,050 Area(sq.ft.)
7,927 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 3 | 2 | $ 3,300 | $ 3,300 | $ 3,800 | |
| Unit 2 | 4 | 2 | 2 | $ 2,868 | $ 11,475 | $ 13,000 | |
| Unit 3 | 2 | 1 | 1 | $ 2,050 | $ 4,100 | $ 5,000 | |
| 3 | 7 | 13 | 12 | $ 18,872 | $ 57,400 | $ 65,800 |
| MLS #: | AR24185038MR |
| Days On Market: | 25 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 529 |
| Price per unit: | $ 457,143 |
| Year Built: | 1956 |
Property Details
Significant Price Drop... Highly Motivated Seller... This meticulously maintained 7-unit building, located in a prime area just south of the 210 freeway in Pasadena, spans 6,050 rentable square feet and offers a mix of unit configurations: one unit with 3 bedrooms and 2 bathrooms, four units with 2 bedrooms and 2 bathrooms, and two units with 1 bedroom and 1 bathroom. Each unit boasts spacious layouts with abundant natural light and excellent ventilation. Completely remodeled in 2017, all 7 units feature copper piping, central AC/Heat, new kitchens, bathroom, and flooring throughout. Three units also feature in-unit laundry, offering added convenience to these modern, comfortable living spaces. Recent upgrades include a newly constructed electrical room with a 400-amp main breaker panel, ensuring compliance with city code at 60 amps per unit. Ideally located just minutes from Old Town Pasadena with easy freeway access, the property is close to Pasadena City College, Cal Tech, The Rose Bowl, and the Rose Parade Route. Colorado Boulevard s top restaurants and amenities are nearby, enhancing its appeal to tenants. Its prime location and high demand ensure strong long-term returns and a solid hedge against inflation.Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Total Annual Expense: | $ 63,316 |
| Net Operating Income: | $ 163,184 |
Structure
| Community Features: | Curbs, Sidewalks |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | PSR4 |
| Land Lease Type: | Fee |
| Parking Garage: | Assigned |
Interior
| AC/Cooling: | Central |
| Heating: | Central |
| Fireplace Rooms: | None |
| Laundry: | Inside, Laundry Closet Stacked, Stackable W/D Hookup |
Exterior
| Pool: | No |
Detailed Map
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