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$ 3,600,000
Est. payment | /mo
6 Beds
3 Baths
$ 3,600,000
Est. payment | /mo
6 Beds
3 Baths
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25156120
Bedrooms 6
Property Sub-Type Res Income 2-4 Units
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
Zoning Public Rec
Direction Driving West on Orange Grove Blvd., Turn Right Onto N. Garfield Ave., Property Will be On Your Left
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 5725022010
Listed by Ryan Loria Triqor Group
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