2301 Pasadena Avenue, Los Angeles, CA 90031
- $1,950,000
- List Price
- $1,950,000
- Status
- ACTIVE
- MLS#
- SR26162858
- Year Built
- 1962
- Lot Size
- 5,762
- Acres
- 0.13
- Lot Location
- Near Public Transit
- Days on Market
- 1
- Property Type
- Commercial
- 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 $1,950,000 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.
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Additional Information
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 22
- Gross Scheduled Income
- $314,400
- Operating Expense
- 129375
Listing courtesy of Listing Agent: Logan Altman (logan@altmanapartments.com) from Listing Office: Altman Apartments LLC.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.