Pasadena, CA91104
| 10571 sqft | MLS# PW25156120
Tract:
For Sale $3,600,000
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.
Facts
| Built in 1963 | Lot Size: 13908.00 sqft | HOA Dues: $0/month
Features
Listing provided by Ryan Loria, Triqor Group
Based on information from California Regional Multiple Listing Service, Inc. as of July 11, 2025. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.