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Property profile & analytics
OFF-MARKET
Estimated value
$56,100,000
Parking lots & garages
2 Lk Ave Pasadena, CA 91101-1858
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6240909
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1984
Construction
CONCRETE
Total area
160,883 SF
Lot
0.91 ac (39,857 SF)
Zoning code
PSC*
APN
5738-008-067
UPID
US09-6240909
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Gable Tax Group Consultant
-
Litchfield Cavo LLP Law Firm
-
TD Ameritrade Financial Advisor
-
Teresita D. Morales, PHD Physician Medical Clinic
-
Persona Nuerobehavior Group Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$46.65M
Blend (final)
Blend
$56.10M
Owner & transaction history
Eastlake LP · 4 yrs held
Eastlake LP
since 2021
Last sale
$62.0M
7 recorded transactions
Zoning & alternative use
PSC* · Pasadena, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Pasadena submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pasadena submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$53,750,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$86,390,000
Current use
AUTO REPAIR, GARAGE
$80,530,000
Change: -7% · Conversion: Difficult
RETAIL STORES
$80,020,000
Change: -7% · Conversion: Difficult
MEDICAL BUILDING
$73,135,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$56.10M
Range $50.49M – $61.71M · ±10% · vs last sale $62.00M (Aug 18 2021)
Last sale anchor
$62.00M
Aug 18 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$349 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$97,197
Tax year 2024
Assessed value
$6,970,680
Assessed 2024
Previous assessed
$6,970,680
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$5,202,000
Assessed improvement
$1,768,680
Applied tax rate
7.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1984
Construction
CONCRETE
Heating
NONE
Total area
160,883 SF
Lot
0.91 ac (39,857 SF)
Zoning code
PSC*
APN
5738-008-067
UPID
US09-6240909
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
PSC* · Pasadena, CA
Zoning PSC* · permitted uses
PSC* · Pasadena, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Pasadena. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$86.4M
AUTO REPAIR, GARAGE
Est. value
$80.5M
RETAIL STORES
Est. value
$80.0M
MEDICAL BUILDING
Est. value
$73.1M
PARKING LOT Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1984
Construction
CONCRETE
Heating
NONE
Lot
0.91 ac
Current owner
From public records · entity-resolved
Eastlake LP
Entity
Mailing address
9034 W SUNSET BLVD, WEST HOLLYWOOD, CA 90069-1819
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2021
$62,000,000
Eastlake LP
2 North Lake Jv LLC
Grant Deed
$56,000,000 · East West Bank
Aug 11, 2017
—
2 North Lake Jv LLC
—
Loan Modification
related
$27,933,737 · East West Bk
May 16, 2012
—
2 North Lake Jv LLC
—
Deed Of Trust
related
$29,974,536 · East West Bank
Sep 10, 2009
—
2 North Lake Jv LLC
Grosvenor California Limited
Grant Deed
$3,000,000 · East West Bank
Feb 4, 2008
—
Bbcaf-2nl LLC
Bbcaf INC
Quit Claim Deed
—
Jul 3, 2007
—
Grosvenor California Ltd
2 Nl LLC
Grant Deed
—
Dec 10, 1998
—
2 Nl Limited Liability Company
Tokto Tatemono
Grant Deed
related
—
—
—
2 North Lake Jv LLC
—
Deed Of Trust
related
—
—
—
2 North Lake Jv LLC
—
Loan Modification
related
$28,854,580 · East West Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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