2809 Pasadena Los Angeles, CA 90031
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID WS26212484
HOA Y/N No
Year Built 1962
Annual Tax Amount $22,652
Tax Year 2025
Lot Size 0.385 Acres
Property Sub-Type Multi Family
Property Description
Ownership has completed a building-wide capital program, leaving limited near-term capital exposure: soft-story seismic retrofit completed under the City's mandatory program, full roof replacement across both sections (2024 and 2025), electrical subpanels replaced in all twenty units, new central water heater, replaced main water service line, driveway resurfacing and full exterior repaint.
Twenty on-site parking spaces — a full 1.0 per unit, uncommon for 1962-vintage product in this submarket — plus a common laundry room and gated access.
Approximately 20% in embedded rent upside as units turn and are renovated. In-place rents average $1,505 against $1,809 at market.
Zoned RD3-1 within the Lincoln Heights HPOZ. ZIMAS designates the parcel Transit Oriented Communities Tier 3, Transit Priority Area and federal Opportunity Zone. Twenty legal units on a lot current zoning would permit approximately five — density that cannot be replicated. Six-minute walk to the Metro A Line at Lincoln/Cypress, immediate access to the I-5 and SR-110, 2.4 miles to the Downtown Los Angeles Civic Center.
Property is subject to the City of Los Angeles Rent Stabilization Ordinance. Offering memorandum, rent roll and operating statements available to qualified buyers upon execution of a confidentiality agreement; contact listing agent. Listing agent has ownership interest in the property. Buyer to verify all information.
Location
State CA
County Los Angeles
Area 677 - Lincoln Hts
Zoning RD3-1-HPOZ
Interior
Heating Natural Gas, Wall Furnace
Cooling None, Wall/Window Unit(s)
Fireplace No
Laundry Common Area
Exterior
Fence Block, Masonry, Security, Wrought Iron
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Roof Type Bitumen,Flat,Rolled/Hot Mop
Building
Lot Description 36-40 Units/Acre, Landscaped, Level, Near Public Transit, Paved, Rectangular Lot
Story 2
Water Public
Others
Tax ID 5205018017
Security Features Carbon Monoxide Detector(s),Security Gate,Smoke Detector(s),Window Bars
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard, Trust
NEARBY SCHOOL & BUSINESS
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