- Status:
- Active
- Prop. Type:
- Commercial Sale
- MLS® Num:
- SR26162858
- Photos (10)
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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 $1,950,000 against a 9.00% stabilized pro forma cap (GRM 6.20). 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.
- Property Sub Type:
- Multi Family
- Lot Area:
- 5,762 sq. ft.
- Bathrooms:
- - (Full:-, Half:-)
- Year built:
- 1962 (Age: 64)
- General Listing Location:
- Los Angeles, 677 - Lincoln Hts
- County Or Parish:
- Los Angeles
- Common Interest:
- None
- Gross Scheduled Income:
- $314,400
- Net Operating Income:
- $175,593
- Cap Rate %:
- 9.0
- Land Lease:
- No
- Operating Expense:
- $129,375
- Vacancy Allowance:
- $9,432
- Vacancy Allowance Rate:
- $3
- In Lincoln Heights. From the 110 Freeway, exit toward Lincoln Heights and Pasadena Avenue; property is at 2301 Pasadena Avenue near Cypress Avenue.
- Building Name:
- Pads on Pasadena Avenue
- Number of Buildings:
- 1
- Lease Considered:
- No
- Laundry Features:
- Common Area
- Lot Features:
- Near Public Transit
- Current Use:
- Multi-Family
- Num Stories:
- 2
- Entry Level:
- 1
- # Units:
- 22
- Water supply:
- Public
- Special Listing Conditions:
- Standard
- Parcel Number:
- 5205023004
- Zoning:
- LAC2
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Listed by Altman Apartments LLC
Data was last updated July 28, 2026 at 12:40 AM (UTC)
- BILLY LONG
- 1 (310) 663-1177
- Contact by Email
Based on information from California Regional Multiple Listing Service, Inc. as of July 28, 2026 at 12:40 AM (UTC) and/or other sources.
All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS.
All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.