CA > Montebello
Montebello, CA 90640,804 N Garfield Ave
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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
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Cheri' Benjamin

Cheri' Benjamin

+1(404) 965-4080
$ 7,850,000
Est. payment /mo
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Active

804 N Garfield Ave Montebello, CA 90640

48 Beds

48 Baths

27,892 SqFt

UPDATED:

02/13/2025 07:01 AM

Key Details

Property Type Multi-Family

Sub 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

Year Built 1963

Lot Size 0.790 Acres

Acres 0.7906

Property Sub-Type Multi-Family

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 Montebello

Zoning MNR3YY

Rooms

Other Rooms None

Interior

Heating Radiant

Cooling Wall Unit(s)

Equipment Other

Laundry Room

Exterior

Parking Features Covered Parking

Garage Spaces 42.0

Building

Story 3

Level or Stories Three Or More

Others

Special Listing Condition Standard

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TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Remax Commercial and Investment Realty
agent

Cheri' Benjamin

+1(404) 965-4080

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804 N Garfield Ave