I don't believe there's any difference.
"Bachelor" in this context means "unmarried man."
"Apartment" is plain language, "pad" is slang. (One dictionary calls it "slang," another calls it "informal, for a person's home.")
A "bachelor pad" simply means one that is set up the way a bachelor might set it up; suitable for entertaining a romantic visitor, for example.
(I wonder if it's still current? It has a 1960s-1980s feeling to me.)