$1,795,000
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.
Listed by Logan Altman with Altman Apartments LLC
MLS Property Type
Commercial Sale
Property Subtype
Multi Family
Status
Active
MLS Number
SR26162858
Year Built
1962
Building Size
6,348 sq ft
Units
22
Lot Size
5,762 sq ft
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