The SRO Collaborative has discovered that the SRO hotel at 507 Main Street, Pacific Rooms, has been put on the market. The owners are asking for $4,500,000 for the 35 units.
The brochure highlights”stable existing income with rental upside.” This is the trendy way for developers to advertise increasing rents by displacing current tenants.
We are very worried about the tenants that live there now. Their low-income housing is some of the last remaining places in the city for them to go and we have to fight to preserve it.
If you or anyone you know lives in Pacific Rooms or any other SRO that goes on sale, contact the SRO Collaborative for more information on your rights or help with your situation.
Link to the Sale Listing here