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.
For sale
Listing Provided by:
Ryan Loria DRE #02006138 949-756-3232,
Triqor Group
$3,600,000
719-721 N Garfield Ave, Pasadena, CA 91104
32beds
16baths
10,571sqft
Est.:
Multi Family
Built in 1963
-- sqft lot
$-- Zestimate®
$341/sqft
$-- HOA
What's special
Gated communityNew roofCovered parkingFresh exterior paintGas cookingShared laundry facilityDual-pane windows
- 4 days
- on Zillow |
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