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Listed by Ryan Loria • Triqor Group
$3,600,000
Est. payment /mo
10,571 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 10,571 sqft
Price per Sqft $340
MLS Listing ID CRPW25156120
HOA Y/N No
Year Built 1963
Lot Size 0.319 Acres
Property Sub-Type Other
Source Datashare California Regional
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
Interior
Fireplace No
Laundry Other
Building
Lot Description Irregular Lot
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