719 N Garfield Avenue, Pasadena, CA 91104 - MLS#PW25156120

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Arash Rokni

arash@roknigroup.com +1(619) 762-0777

$3,600,000

Est. payment - /mo

6 Beds

3 Baths

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UPDATED:

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

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Listed by Ryan Loria Triqor Group

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Arash Rokni

REALTOR® | CADRE# 02005305

+1(619) 762-0777 | arash@roknigroup.com

San Diego Communities

719 N Garfield Avenue Pasadena, CA 91104

Arash Rokni

Key Details

Location

Interior

Exterior

Building

Others

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