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147 N Michigan Ave, Pasadena, CA 91106
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147 N Michigan Ave Pasadena, CA 91106

$3,500,000
  • 13 Beds
  • 12 Baths
  • 6,050 Sq.Ft.
For Sale
$3,500,000 Get Pre-Qualified
Map preview of 147 N Michigan Ave, Pasadena, CA 91106

Property Overview: 147 N Michigan Ave Pasadena, CA has 13 bedrooms, 12 bathrooms, 6,050 living square feet and 7,927 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: 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.

Listed by Kuangkai Kuo | BRE #01849263 | In Realty Inc.
Last checked: 8 minutes ago | Last updated: September 9th, 2024 | Source CRMLS | DOM: 7

Home details

Lot Sq. Ft
7,927
HOA Dues
$0/mo
Year built
1956
Garage
--
Property Type:
Apartment
Status
Active
MLS#
AR24185038
City
Pasadena
County
Los Angeles
Time on Site
9 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 1
  • # of Electric Meters: 8
  • # of Gas Meters: 8
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Actual Rent: $3,300
  • Total Rent: $3,300
  • Pro Forma/Market Rent: $3,800
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Actual Rent: $2,050
  • Total Rent: $4,100
  • Pro Forma/Market Rent: $5,000
Unit Breakdown 3
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Actual Rent: $2,868
  • Total Rent: $11,475
  • Pro Forma/Market Rent: $13,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $226,500
  • Net Operating Income: $163,184
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $63,316
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $6,368
  • Maintenance: $9,440
  • Professional Management: $0
  • Water/Sewer: $7,550

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Property Details for 147 N Michigan Ave

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Inside, Stackable
Fireplace Information
  • No Fireplace
  • None
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 7
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Features: Lot 6500-9999
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 7
  • Parcel Number: 5738014012
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • Has Assessments
  • Assessments: Unknown
Location / Neighborhood
Location Information
  • Directions: E Union St & N Michigan Ave
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Pasadena Agent

Sale History for 147 N Michigan Ave

Last sold for $3,100,000 on May 16th, 2017

  • September, 2024

  • Sep 9, 2024

    Date

    Active

    CRMLS: AR24185038

    $3,500,000

    Price

  • May, 2017

  • May 16, 2017

    Date

    Sold (Public Records)

    Public Records

    $3,100,000

    Price

  • August, 2016

  • Aug 4, 2016

    Date

    Sold (Public Records)

    Public Records

    $1,520,000

    Price

Show More

Tax History for 147 N Michigan Ave

Assessed Value (2020): $3,290,364
Year Land Value Improved Value Assessed Value
2020 $2,302,821 $987,543 $3,290,364

Home Value Compared to the Market

This property vs the competition

147 N Michigan Ave is listed 186.89% higher than the median list price for the city of Pasadena which has a median list price of $1,220,000. The median price per/sqft for Pasadena is $758 and this home is listed at $578.51 per/sqft which puts the price per square foot 23.68% lower than the median price per square foot for the city of Pasadena.

About 147 N Michigan Ave

Detailed summary of property

147 N Michigan Ave is a apartment located in Pasadena, CA 91106 and is currently for sale. This apartment offers 13 bedrooms, 12 bathrooms, roughly 6,050 living square feet, and sits on an approximately 7,927 square foot lot. 147 N Michigan Ave was first listed on ArdentRealEstateGroup.com on September 6, 2024. The homeowner is currently asking $3,500,000. The median priced home in Pasadena is $1,220,000 with a median price per square foot of $758. Based on Ardent Real Estate Group's Pasadena Market Data, this home is listed 186.89% higher than the median priced home. Local competing homes currently for sale include 144 S Avenue 55, 1684 Murchison St and 3235 Andrita St. While the average home in Pasadena, CA is selling in 56 days, 147 N Michigan Ave has a days on market of 7 days. There are currently 325 homes for sale in the Pasadena real estate market and 178 of them are single family homes while 112 of them are condos and 35 are townhomes. For more information on this home for sale at 147 N 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 147 N Michigan Ave

Public county record property details
Beds
10
Baths
7
Year built
1956
Sq. Ft.
6,050
Lot Size
7,924
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
39
APN
5738-014-012

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
$1,080,000
Median List Price/Sq.Ft.
$719
Median Sold Price
$850,000
Median Sold Price/Sq.Ft.
$753
Total Inventory
57
Median Sale to List Price %
100%
Avg Days on Market
29
Loan Type
Conventional (27.27%), FHA (0%), VA (0%), Cash (50%), Other (18.18%)

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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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