$7,500,000

160 S Michigan Ave Pasadena, CA 91106

Playhouse Village Neighborhood

Estimated payment $46,912/month

Total Views 7,366
17 Beds
10 Baths
1 Sq Ft
$7,500,000 Price per Sq Ft

Highlights

  • No HOA
  • Forced Air Heating System
  • 2-minute walk to Grant Park
  • Laundry Room
  • Vinyl Flooring

About This Home

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.

Listing Agent

Matt Ly

Coldwell Banker Realty Brokerage Email: matt.ly@cbcnrt.com License #01441481 Listed on: 08/08/2025

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 9,524 Sq Ft Lot
  • Two or More Common Walls
  • Density is 11-15 Units/Acre

Home Design

  • Apartment
  • Entry on the 1st floor
  • Copper Plumbing

Interior Spaces

  • 1 Sq Ft Home
  • 3-Story Property
  • Vinyl Flooring
  • Laundry Room

Bedrooms and Bathrooms

  • 17 Bedrooms
  • 10 Bathrooms

Parking

  • 15 Parking Spaces
  • 15 Carport Spaces
  • Parking Available
  • Assigned Parking

Additional Features

  • Urban Location
  • Forced Air Heating System

Listing and Financial Details

  • Legal Lot and Block 16 / 1
  • Assessor Parcel Number 5735009014
  • $3,372 per year additional tax assessments
  • Seller Considering Concessions

Community Details

Overview

  • No Home Owners Association
  • 15 Units

Building Details

  • Rent Control
  • 16 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $600
  • Fuel Expense $600
  • Gardener Expense $4,000
  • Insurance Expense $7,500
  • Other Expense $53,000
  • Pest Control $1,600
  • Professional Management Expense $26,706
  • Trash Expense $8,120
  • Water Sewer Expense $8,120
  • New Taxes Expense $937,500
  • Operating Expense $203,995
  • Gross Income $593,457
  • Net Operating Income $383,562

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 5.19
  • Professional Management Expense: 26706.00
  • Property Attached: Yes
  • Water Sewer Expenses: 8120.00
  • Zoning: PSR4
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 4000.00
  • Parcel Number: 5735009014
  • Year Built: 1965
  • AgentOnly_SellerConsiderConcessionYN: Yes
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Copper Plumbing Full
  • Stories: 3
  • Common Walls: 2+ Common Walls
  • Flooring: Vinyl
  • Entry Level: 1
  • Levels: Three Or More

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Carport Spaces: 15.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 15.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Forced Air
  • Laundry Features: Inside
  • Pest Control Expense: 1600.00
  • Sewer: Public Sewer
  • Trash Expense: 8120.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 9524.00
  • Lot Size Acres: 0.2186

Rental Info

  • Tenant Pays: Electricity, Gas, Sewer, Trash Collection, Water

Multi Family

  • Average2 Bed Area: 950 Square Feet
  • Average3 Bed Area: 1150 Square Feet
  • Electric Expense: 600.00
  • Fuel Expense: 600.00
  • Gross Multiplier: 12.27
  • Gross Operating Income: 593457.00
  • Gross Scheduled Income: 611242.00
  • Insurance Expense: 7500.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 9524.0000 Square Feet
  • Net Operating Income: 383562.00
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 15
  • Operating Expense: 211495.00
  • Operating Expense Percent: 36.00
  • Other Expense: 53000.00
  • Other Expense Description: Maint.
  • Rent Control: Yes
  • Total Expenses: 203995.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 937500.00
  • Tax Block: 1
  • Tax Census Tract: 4635.00
  • Tax Lot: 16
  • TaxOtherAnnualAssessmentAmount: 3372.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/08/2025 08/08/25 For Sale $7,500,000 -- $7,500,000 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: AR25178432

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Pasadena 91106 Playhouse Village

160 S Michigan Ave, Pasadena, CA

For Sale

MultiFamily

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

Nearby Homes
Listing Agent
Matt Ly
Section Image
Coldwell Banker Realty
(626) 524-5006