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$5,960,000   Price Analysis
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136 S Michigan Ave
Pasadena, CA 91106
10 bed 18 bath 11,400 SqFt ($522/SqFt)
0.51 acre lot. Built 1952
Listed 2024-05-20, Taxes $17,336		Ⓧ USDA Ineligible
due to price & location
near Pasadena

Exceptional investment opportunity:Bri ng offers for this pleasing 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.


Presented by CHANG JENNIFER at
Irn Realty.


Property MLS #AR24101220 from CRMLS

Bedrooms: 10

Appliances: Gas Oven, Gas Range, Gas Water Heater, Refrigerator
Appliances YN: Yes
Laundry Features: Community

Cooling Features: Wall/Window Unit(s)
Heating Features: Central
Heating: Yes

Full Bathrooms: 18

Additional Parcels Description: 5735009008
Lot Description: 16-20 Units/Acre, Garden, Lot 20000-39999 Sqft
Lot Size Acres: 0.5064
Lot Size Source: Assessor
Lot Size Square Feet: 22058

Carport Spaces: 11
Garage Spaces: 13
Parking Features: Parking YN: Yes, Parking Features: Assigned
Parking Total: 19

Number of Units: 18
Unit Features: Bedrooms in Unit 11 : 2, Bathrooms in Unit 11 : 1, Unit 11 GarageSpaces : 1.00, Bedrooms in Unit 12 : 2, Bathrooms in Unit 12 : 1, Unit 12 GarageSpaces : 1.00, Bathrooms in Unit 13 : 1, Unit 13 GarageSpaces : 1.00
Bedrooms in Unit-1: 1
Bedrooms in Unit-2: 1
Bedrooms in Unit-4: 1
Bedrooms in Unit-6: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 1
Total Bathrooms in Unit-6: 1
Total Bathrooms in Unit-7: 1
Total Bathrooms in Unit-8: 1
Total Bathrooms in Unit-9: 1
Total Bathrooms in Unit-10: 1
Unit-1 Garage Spaces: 1
Unit-2 Garage Spaces: 1
Unit-3 Garage Spaces: 1
Unit-4 Garage Spaces: 1
Unit-5 Garage Spaces: 1
Unit-6 Garage Spaces: 1
Unit-7 Garage Spaces: 1
Unit-8 Garage Spaces: 1
Unit-9 Garage Spaces: 1
Unit-10 Garage Spaces: 1

Calculated Total Monthly Association Fees: 0
Gardener Expense: 4830.00

Number of Units Leased: 18
Rent Control: Yes

Community Features: Street Lights

Source Listing Status: Active
County: Los Angeles
Cap Rate: 4.60
Source Property Type: Residential Income
Insurance Expense: 7526.00
Area: 647 - Pasadena (SW)
Source Neighborhood: 647 - Pasadena (SW)
New Taxes Expense: 66000.00
Number of Separate Electric Meters: 18
Number of Separate Gas Meters: 18
Number of Separate Water Meters: 2
Parcel Number: 5735009009
Trash Expense: 6914.00
Walk Score: 90
Zoning: PSR4
Source System Name: C2C

YearAssessments
Building + Land
Total		Tax
2022$440,654 + $965,823
$1,406,477		$17,336
2021$432,014 + $946,886
$1,378,900		$16,634
2020$427,585 + $937,177
$1,364,762		$16,007
2019$419,201 + $918,801
$1,338,002		$16,037
2018$410,982 + $900,786
$1,311,768		$16,223
2017$402,924 + $883,124
$1,286,048		$16,040
2016$395,024 + $865,808
$1,260,832		$15,667
2015$389,091 + $852,803
$1,241,894		$15,490
2014$381,470 + $836,098
$1,217,568		$15,219
2013$379,746 + $832,320
$1,212,066		$15,215
2012$372,300 + $816,000
$1,188,300		$15,072
2010$222,749 + $90,680
$313,429		$4,999
2009$221,611 + $90,217
$311,828		$4,963
2009$221,085 + $90,003
$311,088		$4,963
2008$217,266 + $88,449
$305,715		$4,691
2007$213,006 + $86,715
$299,721		$4,487

Listed 2024-05-20
$5,960,000
CRMLS
Sold 2012-02-02
$2,330,000
ITECH
Sold 2011-01-26
$2,330,000
Public Record
Relisted 2010-12-14
$2,600,000
ITECH
Listing removed 2010-07-20
$2,790,000
ITECH
Relisted 2010-06-29
$2,790,000
ITECH
Listing removed 2010-06-10
$2,790,000
ITECH
Listed 2010-05-24
$2,790,000
ITECH
Sold 1978-11-17
$350,000
Public Record
Sold 1964-10-28
$78,000
Public Record

Net Operating Income: 259210.00

Total Square Feet Living: 11400
Year Built: 1952
Building Features: 4
Common Walls: 2+ Common Walls
Entry Level: 1
Entry Location: front
Property Age: 72
Property Attached: Yes
Roof: Shingle
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Commercial/Residential
Year Built Source: Assessor

Sewer: Sewer: Public Sewer, Water Sewer Expense: 9800.00
Water Source: Public

McKinley School is a public elementary and middle school located approximately 0.6 miles away.
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Blair High School is a public middle and high school located approximately 1.7 miles away.
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St. Philip The Apostle is a private elementary and middle school located approximately 0.2 miles away.
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.