137 N Michigan Ave

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137 N Michigan Ave

Pasadena, CA 91106
Asking Price
$1.13M
Asset Type
Residential Land
Class
Class B

What's Special

Prime Pasadena Infill: High-Density RM-48 Lot Near Caltech & PCC – Up to 35 Buildable Units (High De <p>MARKETING HIGHLIGHTS:</p><ul><li>​Class-A Infill Location nearby CALTECH and PCC, and minutes to LAKE Ave District and Old Town Pasadena</li><li>​Strong academic and employment centers providing built-in demand for rental units</li><li>​<strong>Ultimate Development Flexibility:</strong> Zoning accommodates three clear development paths: High-Density 100% Affordable (30-35 units), Mid-Density TOD Multifamily (14-21 units), or Low-Density Residential (5 units).</li><li>​<strong>Clear, Vacant Lo

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NOI
$80,000
Cap Rate
7.11%
DSCR
1.20
Tight
Cash-on-Cash
3.91%
Monthly Payment
$5,565.886
Annual Cash Flow
$13,209.366

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