719 N Garfield Avenue new Save Request In-Person Tour Request Virtual Tour
Pasadena,CA 91104
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
Exterior
View Y/N No
Building
Story 2