We are pleased to present Michigan Apartments, a 5-unit apartment community in Pasadena, CA. The property offers an ideal unit mix of one- and two-bedroom units and is situated near California Institute of Technology, Pasadena City College, and Old Town Pasadena. The property has been overlooked by a professional management company and has undergone recent interior and exterior improvements, such as new windows, kitchens, bathrooms, laminate wood flooring, quartz countertops, and stainless-steel appliances. Additional features include covered parking, a shared laundry facility, and individual water heaters. The front two units of the property were constructed in 1898 and the rear 3-units of the property were built in 1963. With strong in-place rents generating a current cap rate of 4.4%, 5.2% with market rents, this is an inflation and recession proof investment with easy to rent units in an irreplaceable location.
Sold for $2,030,000
Listed by: Triqor Group • Gary Tolfa • Contact: 949-756-3232
Bought with: Engel & Voelkers Pasadena
$2,030,000
176 N Michigan Ave, Pasadena, CA 91106
8beds
5baths
3,506sqft
Multi Family
Built in 1898
-- sqft lot
$-- Zestimate®
$579/sqft
$2,690 Estimated rent
Home value
Not available
Estimated sales range
Not available
$2,690/mo
Zestimate® history
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List your homeWhat's special
Old town pasadenaShared laundry facilityStainless-steel appliancesPasadena city collegeCovered parkingNew windowsLaminate wood flooring
Zillow last checked:
Listing updated:
Listed by:
Gary Tolfa DRE #00955403 949-756-3232,
Triqor Group
Bought with:
Max Pellegrini, DRE #01196363
Engel & Voelkers Pasadena
Source: CRMLS,MLS#: PW22247549
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 5
Appliances
- Laundry: Common Area
Features
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 3,506
- Total interior livable area: 3,506 sqft
Property
Features
- Pool features: None
Lot
- Size: 7,723 Square Feet
- Features: Rectangular Lot
Details
- Parcel number: 5738019010
- Zoning: PSR4
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Condition
- New construction: No
- Year built: 1898
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Sidewalks
Location
- Region: Pasadena
Financial & listing details
- Price per square foot: $579/sqft
- Tax assessed value: $2,070,750
- Annual tax amount: $24,545
- Date on market: 11/28/2022
- Cumulative days on market: 219 days
- Listing terms: Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 8/21/2023 | Sold | $2,030,000-3.3%$579/sqft |
Source:  CRMLS #PW22247549 Report a problem | ||
| 1/3/2023 | Price change | $2,100,000-2.3%$599/sqft |
Source: CRMLS #PW22247549 Report a problem | ||
| 11/28/2022 | Listed for sale | $2,150,000+25.5%$613/sqft |
Source: CRMLS #PW22247549 Report a problem | ||
| 6/24/2019 | Listing removed | $2,100$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 3/30/2019 | Listed for rent | $2,100+5.3%$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 1/19/2019 | Listing removed | $1,995$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 12/29/2018 | Listed for rent | $1,995$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 6/1/2018 | Sold | $1,712,500+43.9%$488/sqft |
Source: Public Record Report a problem | ||
| 9/30/2016 | Sold | $1,190,000$339/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $24,545 +4.8% | $2,070,750 +2% |
| 2024 | $23,428 +6.8% | $2,030,150 +8.4% |
| 2023 | $21,934 +3.6% | $1,873,017 +2% |
| 2022 | $21,178 +4.2% | $1,836,295 +2% |
| 2021 | $20,315 +4.2% | $1,800,293 +1% |
| 2020 | $19,504 | $1,781,835 +2% |
| 2019 | $19,504 +35.1% | $1,746,900 +43.9% |
| 2018 | $14,436 | $1,213,950 +2% |
| 2017 | $14,436 +1.1% | $1,190,000 +1144.3% |
| 2016 | $14,275 +619.6% | $95,638 +1.5% |
| 2015 | $1,984 +1% | $94,203 +2% |
| 2014 | $1,963 | $92,358 +5.3% |
| 2010 | -- | $87,714 +1.8% |
| 2008 | -- | $86,200 +2% |
| 2007 | -- | $84,510 +2% |
| 2006 | -- | $82,854 |
| 2005 | -- | $82,854 +4% |
| 2004 | -- | $79,639 +1.9% |
| 2003 | -- | $78,180 +2% |
| 2002 | -- | $76,648 +4% |
| 2000 | -- | $73,673 |
Find assessor info on the county website
Neighborhood: West Central
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Nearby schools
GreatSchools rating
- 2/10McKinley SchoolGrades: K-8Distance: 0.9 mi
- 4/10Blair High SchoolGrades: 6-12Distance: 2 mi
- California
- Los Angeles County
- Pasadena
- 91106
- West Central
- 176 N Michigan Ave
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