$7,500,000
160 S Michigan Avenue, Pasadena CA 91106
Multi-Family (15 Units)
Property type
301 days
On market
$7,500,000
Price per sqft
0 cars
Garage
1965
Year built
9,524 sqft
Lot size
Home highlights
Open Houses
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....
Listing provided by: Matt Cuong Ly DRE #01441481 626-821-1216, Coldwell Banker Realty
Listing updated: Mar 24, 2026 at 08:17pm.
Last checked: Jun 5, 2026 at 01:30am
Source: CRMLS #AR25178432
Multi-family Analysis
Unit Information
| Units | Beds | Baths | Garage | Actual Rent | Total Rent | Pro Forma | Furnished? |
|---|---|---|---|---|---|---|---|
| 1 | 2 | 1 | — | $2,695 | $2,695 | $2,975 | Unfurnished |
| 3 | 2 | 1 | — | $2,795 | $2,795 | $2,975 | Unfurnished |
| 1 | 2 | 1 | — | $2,825 | $2,895 | $2,975 | Unfurnished |
| 1 | 2 | 1 | — | $2,975 | $2,975 | $2,975 | Unfurnished |
| 1 | 3 | 2 | — | $3,590 | $3,590 | $3,695 | Unfurnished |
| 4 | 3 | 2 | — | $3,595 | $3,595 | $3,695 | Unfurnished |
| 4 | 3 | 2 | — | $3,695 | $3,695 | $3,695 | Unfurnished |
# of Buildings: 1
# of Units Total: 15
Separate Electric Meters: 16
Separate Gas Meters: 1
Separate Water Meters: 1
Rent Control: Yes
Tenant Pays: Electricity, Gas, Sewer, Trash Collection, Water
Financial Snapshot
Gross Rent Multiplier
12.3x
List Price / Annual Gross Rent
Cap Rate
5.19%
NOI / List Price
Gross Scheduled Income: $611,242
Vacancy Allowance: $17,852
Vacancy Allowance Rate: 3%
Operating Expense: $211,495
Net Operating Income: $383,562
Annual Operating Expenses
Electric: $600
Gardener: $4,000
Fuel: $600
Insurance: $7,500
New Taxes: $937,500
Pest Control: $1,600
Professional Management: $26,706
Trash: $8,120
Water / Sewer: $8,120
Other Expense: $53,000
Interior
Flooring: Vinyl
Heating: Forced Air
Fireplace: None
Laundry: Inside
Entry Location: Ground
Exterior
Property Attached: Yes
Stories Total: 3
Levels: Three Or More
Construction Materials: Copper Plumbing
Common Walls: Two Common Walls Or More
Lot Features: Eleven To Fifteen Units Acre
Pool: None
Spa: None
Water Source: Public
Sewer: Public Sewer
Garage and Parking
Parking: Assigned
Garage Spaces: 0
Uncovered Spaces: 0
Carport Spaces: 15
Parking Total: 15
Lot Information
Land Lease: No
Common Interest: CommunityApartment
Parcel #: 5735009014
Additional Parcels: No
Tax Lot: 16
Zoning: PSR4
Tax Block: 1
Community
HOA: No
HOA Fee: $0
Senior Community: No
Community Features: Urban
Nearby Schools
Nearby schools around the 160 S Michigan Avenue, Pasadena, CA 91106. Contact the school or district directly to verify enrollment eligibility.
Payment Calculator
Total Principal
$6,000,000
Total Interest
$7,652,669
Total Payment
$13,652,669
Payoff Date
Jun 2056
PMI is disabled automatically when your down payment is 20% or more.
Est. Payment
$45,887
per month
Property History for 160 S Michigan Avenue
Pasadena Market Snapshot
Market stats compare this property with recent MLS activity for similar property types in 91106.
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