CA > Montebello
Montebello, CA 90640,804 N Garfield AVE
Montebello, CA 90640,804 N Garfield AVE,Video Tour
Montebello, CA 90640,804 N Garfield AVE
Montebello, CA 90640,804 N Garfield AVE
Montebello, CA 90640,804 N Garfield AVE
Montebello, CA 90640,804 N Garfield AVE
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Thomas Ryan

Thomas Ryan

+1(909) 334-2049
$ 7,850,000
Est. payment | /mo

48 Beds

48 Baths

27,892 SqFt

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$ 7,850,000
Est. payment | /mo
Save Video Tour

48 Beds

48 Baths

27,892 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 27,892 sqft

Price per Sqft $281

MLS Listing ID 25493507

Bedrooms 48

HOA Y/N No

Year Built 1963

Lot Size 0.790 Acres

Property 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.

Location

State CA

County Los Angeles

Area 674 - Montebello

Zoning MNR3YY

Interior

Heating Radiant

Fireplace No

Laundry Laundry Room

Exterior

Parking Features Covered

Porch See Remarks

Total Parking Spaces 42

Building

Story 3

Entry Level Three Or More

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 5268002020

Financing Assumed

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Shant Sherbetdjian • Remax Commercial and Investment Realty
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+1(909) 334-2049

thomas@thomasryan.realestate

4016 Grand Ave Suite A # 1082, Chino, CA, 91710, United States

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804 N Garfield AVE