About The Property

The Heritage Square portfolio features 22 residential units and 3 commercial spaces located across the street from the Heritage Square Gold Line Station. 106-114 E. Avenue 37 and 103-117 E. Avenue 36 features a 17-unit bungalow-style property sitting on two parcels of land totaling 38,583 SF of land. 3614-3618 Pasadena Avenue is a 12,433 SF lot zoned RAS3. The property consists of three commercial spaces and 5 residential units. Additionally, this portfolio sits directly across the street from the Gold Line station and is eligible for Tier 3 TOC incentives.


Price $5,270,000

City Northeast Los Angeles

Units 25

Current CAP 4.25%

Price p/ Sq. ft. $357

Price P/ Unit $210,800


Sitting across from the Heritage Square Gold Line station, this 25-unit mixed-use portfolio sits on approx. 51,000+ SF of land and features approx. 60% upside in rents. Despite the long-term promise, the Seller considered these properties an outlier in his portfolio and contacted Max to cash out.


Despite the significant financial upside and neighborhood revitalization, the property’s unique unit mix, low rents for most units and a “laundry list” of deferred maintenance would shrink the buyer pool. Max had to manage the Seller’s expectations while looking for a value-add investor capable of taking on a major mixed-use project.


Thirty days after signing the listing, Max identified a well-qualified buyer. Escrow opened in Nov. 2021, and despite multiple obstacles during the due diligence period, closed at $5,270,000. The Seller was thrilled to cash out on his portfolio outlier, and the Buyer is eager to explore multiple mixed-use ideas in this developing Northeast LA neighborhood.

Speaking for myself and everyone involved, you were absolutely the best broker we could have selected to market our portfolio. You found an incredible buyer and were able to guide us through so many challenges, including a global pandemic, and secured us a price beyond our expectations.

- Seller (60 Units by The Grove)

“I cannot say enough great things about KST. They take care of you, they have the connections needed, and they get the job done! We were amazed at how quickly our sale went through during the COVID pandemic.”

- Seller (4 Units in Beverly Grove)

“It was truly a pleasure working with Kenny. He is professional, honest, hardworking and most importantly did what he said he would. Kenny sold the property at list price in less than 60 days from start to finish.”

- Seller (Beachfront Generational Asset in Playa del Rey)