Listed by Coldwell Banker Commercial Realty
$7,500,000
160 S Michigan Avenue
Details
APN 5735009014
Property Type Multifamily
Sub Type Apartment Building
Units 15
Cap Rate 5.19%
Buildings 1
Stories 3
Acreage 0.219
Zoning Assessor
Multifamily | 5.19% CAP | 15 Units
Marketing description
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.
Listing Contacts
Listed by Coldwell Banker Commercial Realty
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