$1,899,000
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 $1,899,000 against a 9.28% stabilized pro forma cap (GRM 6.04). 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 (310) 903-0222
Property Type
Multi Family
Status
Active
MLS Number
SR26162858
Year Built
1962
Lot Size
5,763 sq ft
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