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$ 1,795,000
Est. payment | /mo
5,762 Sqft Lot
$ 1,795,000
Est. payment | /mo
5,762 Sqft Lot
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26162858
HOA Y/N No
Year Built 1962
Annual Tax Amount $22,438
Lot Size 5,762 Sqft
Property Sub-Type Multi Family
Property Description
Pads on Pasadena Avenue - a 22-unit boutique repositioning opportunity in Lincoln Heights / NELA, minutes to DTLA, LAC+USC Medical Center and the Metro L Line. Operated under a valid LAHD RSO certificate; rooms feature private kitchenettes with on-site shared laundry. Priced at $1,795,000 against a 9.82% stabilized pro forma cap (GRM 5.87). The asset is currently in lease-up, offering a rare value-add basis with fully entitled plans to add a private bath to every room and create private-bath studios. Dual-use flexibility as a boutique hostel or RSO apartments, with strong 2028 Olympics-driven demand. Financials shown reflect stabilized underwriting; current occupancy is in repositioning. Buyer to verify all figures, entitlements, unit legality and square footage.
Location
State CA
County Los Angeles
Area 677 - Lincoln Hts
Zoning LAC2
Interior
Fireplace No
Laundry Common Area
Exterior
Present Use Multi-Family
Building
Lot Description Near Public Transit
Story 2
Water Public
Others
Tax ID 5205023004
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Listed by Logan Altman Altman Apartments LLC 310-903-0222, DRE #01965826
Joshua Tolar
Homeowner Advisor | Realtor License ID: 02000924
+1(909) 525-2770 | josh@pivothomes.com