Los Angeles, Residential Income – 95 N Michigan Ave, Pasadena, CA 91106, USA -001-11-30T00:00:00-08:00
The property is located on the south west side of Michigan Ave and Union St, several blocks away from the Pasadena Playhouse District, an eclectic cosmopolitan community rich in history and architecture. It is also located within walking distance to the worl
95 N Michigan Ave, Pasadena, CA 91106, USA
$5,150,000 USD
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Address95 North Michigan Avenue, Pasadena
Price$5,150,000
Price Changed1.9% (-$100,000, 97 days ago)
Year Built1961
Bedrooms Total0
Living Area10,588 ft2
Lot Size (Sq.Ft.)14,991
Listing IDAR17145906
StatusActive
Parcel Number5738013027
ZoningPSR4
Special ConditionsStandard
Days on Market144

Detailed Description: The property is located on the south west side of Michigan Ave and Union St, several blocks away from the Pasadena Playhouse District, an eclectic cosmopolitan community rich in history and architecture. It is also located within walking distance to the world renowned California Institute of Technology (CALTECH) and Pasadena City College (PCC). The close proximity to some of the largest colleges in San Gabriel Valley provides a unique opportunity for an investor to rent out the units to college students. Because of this superb location, it has a Walk Score 91 out of 100, demonstrating high “walkability” to a variety of nearby amenities such as restaurants, shops, health clubs and entertainment venues. The property is a garden style two story building that was built in 1961. It offers a superb unit mix of four (4) 2bed + 1bath, and twelve (12) 1bed + 1bath units. The total building size is 10,588 sq.ft and it is situated on a large 14,991 sq.ft lot. Each unit is separately metered for electricity and gas. Ten (10) units have private patios. Some units have been updated with laminate wood flooring, mirrored closet doors, tiled bathroom, and tiled kitchen vanity. Most of the units have carpet flooring, and laminate kitchen countertops. Parking is provided by carport and tuck under parking in the back. There are total 16 parking spaces and storage spaces in the parking area. There is a shared laundry room in the parking area.

Cooling
Association
Fireplace
Laundry
Parking
Pool Private
Rent Control
Senior Community
Property Attached
Land Lease

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Address Information
Address95 North Michigan Avenue, Pasadena
Street PrefixNorth
Street SuffixAvenue
CityPasadena
Location (MLS Area)647 – Pasadena (SW)
County Or ParishLos Angeles
Postal Code Plus45112
CountryUS
Financial Information
Price Changed-1.9048%
Previous Price$5,250,000
Price per Square Foot$486.40
Price per Lot Square Foot$343.54
Tenant PaysElectricity, Gas
Special ConditionsStandard
Total Expenses$100,669
Professional Management Expense$8,880
Operating Expense$100,669
Insurance Expense$4,107
Electric Expense$2,040
Water Sewer Expense$8,136
Trash Expense$5,688
Gross Operating Income$267,662
Gross Income$275,940
Gross Scheduled Income$275,940
Net Operating Income$166,992
Total Actual Rent$22,835
Tax Year2017
New Taxes Expense$57,881
Full Descriptions
Parcel Number5738013027
Detailed DescriptionThe property is located on the south west side of Michigan Ave and Union St, several blocks away from the Pasadena Playhouse District, an eclectic cosmopolitan community rich in history and architecture. It is also located within walking distance to the world renowned California Institute of Technology (CALTECH) and Pasadena City College (PCC). The close proximity to some of the largest colleges in San Gabriel Valley provides a unique opportunity for an investor to rent out the units to college students. Because of this superb location, it has a Walk Score 91 out of 100, demonstrating high “walkability” to a variety of nearby amenities such as restaurants, shops, health clubs and entertainment venues. The property is a garden style two story building that was built in 1961. It offers a superb unit mix of four (4) 2bed + 1bath, and twelve (12) 1bed + 1bath units. The total building size is 10,588 sq.ft and it is situated on a large 14,991 sq.ft lot. Each unit is separately metered for electricity and gas. Ten (10) units have private patios. Some units have been updated with laminate wood flooring, mirrored closet doors, tiled bathroom, and tiled kitchen vanity. Most of the units have carpet flooring, and laminate kitchen countertops. Parking is provided by carport and tuck under parking in the back. There are total 16 parking spaces and storage spaces in the parking area. There is a shared laundry room in the parking area.
Lot FeaturesLot 10000-19999 Sqft
Community FeaturesSuburban
Flooring DescriptionCarpet, Laminate, See Remarks
Water SourcePublic
UtilitiesSewer Connected
Laundry FeaturesArea
Heating DescriptionWall Heater
Cooling DescriptionWall Window
Parking FeaturesAssigned
Fireplace FeaturesNone
Common Walls Description2
Pool FeaturesNone
Property parameters
Year Built1961
Living Area (Sq.Ft.)10,588 ft2
Lot Size (Sq.Ft.)14,991
Lot Size (Acres)0.34
Lot Size SourceAssessor
Number of Buildings1
Number of Units Leased16
Number of Units Total16
ZoningPSR4
Stories Total2
Parking Spaces16
LevelsTwo
Carport Spaces16
Water SourcePublic
Units Total16
Year Built SourceAssessor
Vacancy Allowance Rate3%
Number of Separate Electric Meters16
Number of Separate Gas Meters16
Number of Separate Water Meters1
Units with Disposal16
Listed withHandoko Chen (Growth Investment Group, Inc.)