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136 S Michigan Ave, Pasadena, CA 91106
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136 S Michigan Ave Pasadena, CA 91106

$5,960,000
  • 10 Beds
  • 18 Baths
  • 11,400 Sq.Ft.
For Sale
$5,960,000 Get Pre-Qualified

Property Overview: 136 S Michigan Ave Pasadena, CA has 10 bedrooms, 18 bathrooms, 11,400 living square feet and 22,058 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Exceptional investment opportunity:Bring offers for this beautiful 4 BUiLDINGS , sale is for 2 parcels 130 and 136 S. Michigan Ave. total 18 units must be sold together. 100% leased. 11400 sq ft living area, 22058 lot size. Property located in a quiet street walking distance to the Cal Tech, PCC, Old town, Shopping center on Lake Ave. Hardly any vacancy, usually rented within 1 week, easy to manage.The property offers an investor the rare opportunity to own an excellent portfolio of real estate in one of the most coveted submarkets in the San Gabriel Valley. The property, which has been 40% renovated. It is a two-story garden style apartment with 11-Studios 500 sq.ft. 4- 1Bedroom 665 sq. ft and 3-2Bedrooms 750 sq. ft (2unit) 1100 sq.ft. (1unit) Sold As Is.

Listed by Jennifer Chang | BRE #01244408 | IRN Realty
Last checked: 12 minutes ago | Last updated: June 12th, 2024 | Source CRMLS | DOM: 36
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Home details

Lot Sq. Ft
22,058
HOA Dues
$0/mo
Year built
1952
Garage
1 Car
Property Type:
Mixed Use
Status
Active
MLS#
AR24101220
City
Pasadena
County
Los Angeles
Time on Site
35 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 18
  • Total # of Buildings: 4
  • # of Leased Units: 18
  • # of Electric Meters: 18
  • # of Gas Meters: 18
  • # of Water Meters: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,860
  • Total Rent: $1,860
  • Pro Forma/Market Rent: $1,950
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,716
  • Total Rent: $1,716
  • Pro Forma/Market Rent: $1,950
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,715
  • Total Rent: $1,715
  • Pro Forma/Market Rent: $1,950
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,148
  • Total Rent: $1,148
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,615
  • Total Rent: $1,615
  • Pro Forma/Market Rent: $1,950
Unit Breakdown 6
  • # of Units: 2
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,650
  • Total Rent: $3,300
  • Pro Forma/Market Rent: $3,500
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,358
  • Total Rent: $2,358
  • Pro Forma/Market Rent: $3,300
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,060
  • Total Rent: $1,060
  • Pro Forma/Market Rent: $1,300
Unit Breakdown 9
  • # of Units: 3
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,436
  • Total Rent: $4,308
  • Pro Forma/Market Rent: $5,250
Unit Breakdown 10
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,955
  • Total Rent: $3,910
  • Pro Forma/Market Rent: $4,500
Unit Breakdown 11
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,400
  • Total Rent: $1,400
  • Pro Forma/Market Rent: $1,750
Unit Breakdown 12
  • # of Units: 2
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $3,400
  • Pro Forma/Market Rent: $3,800
Unit Breakdown 13
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,950
  • Total Rent: $1,950
  • Pro Forma/Market Rent: $1,950
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.6%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $356,880
  • Net Operating Income: $259,210
  • Gross Operating Income: --
  • Laundry Own/Lease: Own
Annual Expense Breakdown
  • Total Operating Expense: $97,670
  • Licenses: $157
  • New Taxes: $66,000
  • Trash: $6,914
  • Gardener: $4,830
  • Insurance: $7,526
  • Professional Management: $0
  • Water/Sewer: $9,800

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Property Details for 136 S Michigan Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Community
Kitchen Information
  • Has Appliances
  • Gas Oven, Gas Range, Gas Water Heater, Refrigerator
Interior Features
  • Levels: Two
  • Security Features: Smoke Detector(s)
Exterior Features
Exterior Information
  • Roof: Shingle
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 1
  • # of Parking Spaces: 19
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Features: 16-20 Units/Acre, Garden, Lot 20000-39999 Sqft
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 18
  • Parcel Number: 5735009009
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: South of 210 fwy and Colorado B
Neighborhood Information
  • Community Features: Street Lights
View more facts & features

Local Pasadena Agent

Sale History for 136 S Michigan Ave

Last sold for $2,330,023 on January 26th, 2011

  • May, 2024

  • May 19, 2024

    Date

    Active

    CRMLS: AR24101220

    $5,960,000

    Price

  • January, 2011

  • Jan 26, 2011

    Date

    Sold (Public Records)

    Public Records

    $2,330,023

    Price

Show More

Tax History for 136 S Michigan Ave

Assessed Value (2020): $1,365,732
Year Land Value Improved Value Assessed Value
2020 $937,177 $428,555 $1,365,732

Home Value Compared to the Market

This property vs the competition

136 S Michigan Ave is listed 396.67% higher than the median list price for the city of Pasadena which has a median list price of $1,200,000. The median price per/sqft for Pasadena is $774 and this home is listed at $522.81 per/sqft which puts the price per square foot 32.45% lower than the median price per square foot for the city of Pasadena.

About 136 S Michigan Ave

Detailed summary of property

136 S Michigan Ave is a mixed use located in Pasadena, CA 91106 and is currently for sale. This mixed use property offers 10 bedrooms, 18 bathrooms, roughly 11,400 living square feet, and sits on an approximately 22,058 square foot lot. 136 S Michigan Ave was first listed on ArdentRealEstateGroup.com on May 20, 2024. The homeowner is currently asking $5,960,000. The median priced home in Pasadena is $1,200,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Pasadena Market Data, this home is listed 396.67% higher than the median priced home. While the average home in Pasadena, CA is selling in 54 days, 136 S Michigan Ave has a days on market of 36 days. There are currently 301 homes for sale in the Pasadena real estate market and 180 of them are single family homes while 97 of them are condos and 24 are townhomes. For more information on this home for sale at 136 S Michigan Ave Pasadena, CA 91106 contact Ardent Real Estate Group and we will put you in touch with one of our Pasadena agents.

Public Facts for 136 S Michigan Ave

Public county record property details
Beds
8
Baths
18
Year built
1952
Sq. Ft.
6,042
Lot Size
9,884
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
12,13
APN
5735-009-009

The source for these homes facts are from public records.

91106 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$963,000
Median List Price/Sq.Ft.
$677
Median Sold Price
$1,100,000
Median Sold Price/Sq.Ft.
$759
Total Inventory
54
Median Sale to List Price %
110.11%
Avg Days on Market
16
Loan Type
Conventional (38.46%), FHA (0%), VA (0%), Cash (30.77%), Other (30.77%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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