719 North Garfield Avenue new Save Request In-Person Tour Request Virtual Tour
Pasadena,CA 91104
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 10,571 sqft
Price per Sqft $340
MLS Listing ID PW-25156120
Year Built 1963
Lot Size 0.319 Acres
Property Sub-Type Apartment
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
Area 645 - Pasadena Nw
Zoning PSR*
Interior
Laundry Common Area
Exterior
Parking Features Gated
Pool None
Community Features Sidewalks
Building
Lot Description Irregular Lot
Sewer Public Sewer