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Listed by Ryan Loria • Triqor Group
$ 3,600,000
Est. payment /mo
New
719 721 N Garfield AVE Pasadena, CA 91104
0.32 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW25156120
Year Built 1963
Lot Size 0.319 Acres
Source California Regional MLS
Property Description
Garfield Apartments is a well-located, 16-unit, value-add opportunity in the desirable city of Pasadena, CA. This gated community features an attractive unit mix of 1, 2, and 3-bedroom units. Property amenities include covered parking, gas cooking, individual gas and electric meters, and a shared laundry facility. Recent capital improvements include soft-story retrofitting, a new roof (2020), dual-pane windows, and fresh exterior paint. Garfield Apartments offers investors a compelling opportunity to acquire a value-add asset with strong in-place income and significant upside; approximately 48% upside in rents. The property is operating at a 5.7% cap rate with current rents, 9.7% with market rents.
Location
State CA
County Los Angeles
Area 645 - Pasadena (Nw)
Interior
Laundry Laundry Area
Exterior
Pool None
Building
Lot Description Irregular
Water District - Public
Others
Tax ID 5725022010
Special Listing Condition Not Applicable
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