130 S Michigan Ave - Apartments FOR SALE


Pasadena, CA 91106- South Lake
$4,880,000 USD
310-941-5899
130 S Michigan Ave, Pasadena, CA for Sale
$4,880,000 USD
Apartments - FOR SALE
1/12
null | 4.8% Cap Rate

130 S Michigan Ave
Pasadena, CA 91106
South Lake


HIGHLIGHTS

  • Two nine-unit multifamily buildings built in 1950 & 1952
  • Highly desirable Pasadena location- walking distance to South Lake Avenue
  • Two contiguous parcels totaling over half an acre of land
  • 1 parking space per unit
  • Diverse Unit Mix: (11) Studios, (4) One Bedroom/One Bath, (3) Two Bedroom/One Bath
  • Strong rental demand fueled by its proximity to Caltech and Pasadena City College

OVERVIEW

Marcus and Millichap is pleased to present 130-136 S. Michigan Avenue, situated in the highly desirable South Lake Pasadena submarket, one of the city’s most vibrant and walkable neighborhoods. Just minutes from Old Town Pasadena and the Playhouse District, the property benefits from a prime infill location surrounded by retail, dining, and everyday amenities along South Lake Avenue. The area offers a strong live-work-play environment, with convenient access to national retailers, local boutiques, and a wide range of restaurants. Its walkability and neighborhood appeal make it especially attractive to long-term renters. The property is also situated near major demand drivers, including the California Institute of Technology (Caltech) and Pasadena City College, supporting consistent rental demand from students, faculty, and local professionals.

FOR SALE DETAILS

PRICE

$4,880,000 USD

PRICE/SF

$904 USD /SF

# OF UNITS

18

PRICE/UNIT

$271,111

CAP RATE

4.8%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

130-136 S Michigan Ave.

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

PSR4

APN/PARCEL ID

5735-009-008,5735-009-009

ASK ABOUT THIS PROPERTY

Jeff LouksMarcus & MillichapMore Info
310-941-5899

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Jeff LouksMarcus & MillichapMore Info
310-941-5899

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.