See all 45 photos
45 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$7,850,000
Est. payment /mo
27,892 SqFt
UPDATED:
02/13/2025 02:10 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 27,892 sqft
Price per Sqft $281
MLS Listing ID CL25493507
HOA Y/N No
Year Built 1963
Lot Size 0.790 Acres
Acres 0.79
Property Sub-Type Other
Property Description
Discover an exceptional multifamily asset in North Montebello, the Garfield Mission Apartments. This well-maintained 28-unit property offers a diverse mix of (12) 2-bedroom, 1.75-bath units, (8) 2-bedroom, 1.5-bath Two- Story Townhome-style units, and (8) 1-bedroom, 1-bath units. With majority of rents currently eligible for increases, the property presents a realistic rental upside potential of approximately 23%. The property is complemented by strong financials, including a 5.33% cap rate and a 10.93 GIM on the current rents. Situated on North Garfield Avenue, the property is directly across from Top Golf and Quiet Cannon Golf Course/ Country Club and just two blocks from Monterey Park. With a high walkability score of 79, tenants enjoy convenient access to Montebello Plaza and are just minutes from the Monterey Park Shopping Mall. A qualified investor has the option to assume the current CHASE loan at a competitive 3.65% fixed interest rate which is fixed through August 2028, with an approximate balance of $4,326,538. The Garfield Mission Apartments feature charming landscaping, attractive architecture, and plenty of on-site covered parking. Unit amenities include either private balconies or patios, secured entry, and gated parking. Additional monthly income is generated from
Location
State CA
County Los Angeles
Zoning MNR3
Interior
Heating Radiant
Fireplace No
Laundry Laundry Room
Building
New Construction No
Others
Tax ID 5268002020
Virtual Tour https://my.matterport.com/show/?m=tvQ92qbTSGF&mls=1
Read Less Info
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Shant Sherbetdjian • Remax Commercial and Investment Realty
_Our #1 priority is to find and attract mastery-based agents to partner with, protect our culture, and support our clients needs and desires."
CONTACT US