Overview
- Multi Family
- 1962
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.
Address
Open on Google Maps- Address Pasadena
- City Los Angeles
- State/county Los Angeles
- Zip/Postal Code 90031
Details
Updated on September 21, 2026 at 9:16 am- Property ID: HZSR26162858
- Price: $1,795,000
- Year Built: 1962
- Property Type: Multi Family
- Property Status: Commercial Sale
- Listed by: Logan Altman
- DRE #: 01965826
- Contact Phone: 310-903-0222
- Contact Mail: logan@altmanapartments.com
- Brokered by: Altman Apartments LLC
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