804 N Garfield Avenue

Montebello, CA 90640

  • 48 Bed(s)
  • 0 Bath(s)
  • 27,892 Sqft
  • 34427
    Sqft(Lot)
$7,850,000

Description

Discover an exceptional multifamily asset in north montebello, the garfield mission apartments. this well-maintained 28-unit property offers a diverse mix of (12) 2-bedroom, 1.75-bath units, (8) 2-bedroom, 1.5-bath two- story townhome-style units, and (8) 1-bedroom, 1-bath units. with majority of rents currently eligible for increases, the property presents a realistic rental upside potential of approximately 23%. the property is complemented by strong financials, including a 5.33% cap rate and a 10.93 gim on the current rents. situated on north garfield avenue, the property is directly across from top golf and quiet cannon golf course/ country club and just two blocks from monterey park. with a high walkability score of 79, tenants enjoy convenient access to montebello plaza and are just minutes from the monterey park shopping mall. a qualified investor has the option to assume the current chase loan at a competitive 3.65% fixed interest rate which is fixed through august 2028, with an approximate balance of $4,326,538. the garfield mission apartments feature charming landscaping, attractive architecture, and plenty of on-site covered parking. unit amenities include either private balconies or patios, secured entry, and gated parking. additional monthly income is generated from laundry facilities, storage rentals, pet fees, and extra parking spaces. the property is subject only to california's statewide ab1482 rent ordinance, currently set at 8.9%, with no additional local rent control restrictions.

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    48521434

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Property Details

  • Bedroom Information

    • Total Bedrooms : 48

    Bathroom Information

    • Total Baths: 48
    • Full Baths: 0
    • Half Baths: 0

    Heating Source

    • Radiant
    • Has Heating

  • Building Information

    • Year Built: 1963
    • Building Area Total: 27,892

    Laundry Features

    • Laundry Room

    Patio And Porch

    • See Remarks

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.7903
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 34427

  • Listing Price Information

    • Original List Price: 7,850,000
    • Listing Contract Date: 2025-02-05

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 5268002020

  • Garage and Parking

    • Garage Description: Covered

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: 674 - Montebello
    • Directions: Situated on the corner of North Garfield Avenue and Via Paseo, in North Montebello, across the street from Top Golf and Quiet Cannon Golf Course.
    • Zoning: MNR3YY
    • Source Property Type: Residential Income
    • Area: 674 - Montebello

    Building and Construction

    • Property Age: 62
    • Year Built Source: Vendor Enhanced
    • Total Square Feet Living: 27892
    • Entry Location: Ground Level w/steps
    • Levels or Stories: Three Or More
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BuyOwner last updated this listing 02/22/2025 @ 02:16

  • MLS: 25493507
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 48 bedrooms which is for sale, it has 27,892 sqft, 34,427 sized lot, and 0 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Montebello , in zip code 90640, this Los Angeles County Home are nearby neighborhoods.