160 S Michigan Avenue Pasadena, CA ^$ 7,500,000

160 S Michigan Avenue

^$ 7,500,000

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160 S Michigan Avenue

Pasadena, CA, 91106

^$ 7,500,000

Studio Baths1.0 Sq 1

Monthly Estimate*

^$ 46,790

Listed by Coldwell Banker Realty

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Studio

Multi-Family Home for sale in Pasadena, CA

for $7,500,000 with 1 full bath. This 1 square foot home was built in 1965 on a lot size of 0.2186.

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. Equipped with in-unit washer/dryer combos, stoves, refrigerators, and microwaves, these apartments are designed for easy rental and high occupancy rates. With its strategic location near Caltech, this property is an outstanding opportunity for investors seeking a cash-flowing asset in a desirable area.

Multi-Family Active

Price

^$ 7,500,000

Bedrooms

Studio

Full Bath

Property Type

Multi-Family

Taxes

^$ 0

Style

Lot Size

0.2186

Year Built

1965

Town/City

Pasadena

County/Region

Los Angeles

MLS | Web ID

AR25178432

Days on Market

132

Features

General

Sewer Public Sewer

Heating Forced Air

Utilities See Remarks

Zoning PSR4

HOA Fee 0

Garage Spaces 0

Pool Features None

Construction Materials Copper Plumbing

Year Built 1965

Tenant Pays Electricity Gas Sewer Trash Collection Water

Levels Three Or More

Property Subtype Apartment

Gross Income 0

Community Features Urban

County Los Angeles

Net Operating Income 383562

Operating Expense 211495

Insurance Expense 7500

New Construction 0

Property Type Residential Income

HOA 0

Contingency NA

Garage Y/N 0

Special Listing Conditions Standard

Status Active

Directions Michigan Ave. & Cordova Ave.

City Pasadena

Entry Location Ground

Senior Community Y/N 0

Open Parking Spaces 0

Number Of Units Total 15

MLS Area 648 - Pasadena (SE)

Lot Size Units Square Feet

Lot Size Square Feet 9524

Carport Spaces 15

Carport Y/N 1

Listing Terms Cash Cash to New Loan 1031 Exchange

Spa Features None

Property Attached Y/N 1

Land Lease Y/N 0

Electric Expense 600

Fuel Expense 600

Trash Expense 8120

Water Sewer Expense 8120

Additional Parcels Y/N 0

Rent Control Y/N 1

Building Area Units Square Feet

Standard Status Active

Year Built Source Assessor

Tax Lot 16

Property Sub Type Additional Apartment

Taxes 937500

Cap Rate 5.19

Interior

Flooring Vinyl

Fireplace Features None

Total Stories 3

Common Walls 2+ Common Walls

Heating Y/N 1

Fireplace Y/N 0

Laundry Features Inside

Entry Level 1

Exterior

Parking Features Assigned

Lot Features 11-15 Units/Acre

Water Source Public

Total Parking 15

Lot Size Area 9524

Number of Buildings 1

Spa 0

Building Area Total 1

Lot Size Acres 0.2186

Private Pool 0

Lot Size Source Assessor

Number of Separate Water Meters 1

Number of Separate Gas Meters 1

Number of Separate Electric Meters 16

* Excluded Features

List By

Coldwell Banker Realty

Broker

matt.ly@cbcnrt.com

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$46,790

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Monthly Principal & Interest: $46,790
Monthly Property Taxes: --
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Pasadena, CA

Average List Price ^$2,937,864

Percent of Sale Price 61%

About Pasadena, CA

141,450 Population

6% Since 2002

^$77,514 Median Income

39.52 Median Age

22% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

4827338 Elementary School

4827337 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
11/20/2025	$7,500,000		Listed Price

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160 S Michigan Avenue, Pasadena, CA, 91106 is a Multi-Family Home for sale at $7,500,000 with 1 sqft and a lot size of 0.2186. 160 S Michigan Avenue is a studio with 1.0 baths and was built in 1965. The property's zip code is 91106 which is in Pasadena, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 12/18/2025. 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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160 S Michigan Avenue

Multi-Family Home for sale in Pasadena, CA

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