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7/14/25
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A 28.5k sf, former assisted living facility in Pasadena traded for $5.13 mil ($180/sf). The property is located at 1450 N. Fair Oaks Ave, east of I-210 and north of Washington Blvd.
The 42-unit skilled nursing facility sits on a 0.80-acre, 35k sf lot and was delivered vacant. Although “Residential Care, General” and “Skilled Nursing” uses are prohibited, the site allows for a wide range of alternative uses. Permitted uses include supportive housing, transitional housing, single- and multi-family housing, limited adult day care, child day care, and home occupations. Uses requiring a Conditional Use Permit (CUP) include cultural institutions, religious facilities, temporary homeless shelters, public and private schools, general adult day care, child day-care centers, and public safety facilities. The new owner also plans to re-purpose the building as a temporary housing facility focused on mental health support and substance use prevention.
Stephen Lam, Guillermo Olaiz and John S. Archibald with NAI Capital Commercial represented the seller, Agri Capital Inc. The buyer was 1450 N Fair Oaks LLC.
“The property presented a compelling re-purpose opportunity in a prime infill location, given its vacant delivery and previous design and layout suitable for the new Interim Housing Program funded by the Department of Mental Health (“DMH”),” commented Archibald.
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