804 N Garfield Avenue
Montebello, CA 90640
- – beds
- – baths
- – sqft
- ~3/4 acre lot
- 1963 build
- – on site
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.
Last checked:
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Last updated Feb 13, 2025
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MLS# 25493507 —
The Building
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Year Built:1963
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New Construction:No
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Building Area Total:27892.00
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Total Number Of Units:28
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# of Buildings:1
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Stories Total:3
Interior
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Levels:Three Or More
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Entry Location:Ground Level w/steps
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Laundry:Individual Room
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Laundry:1
Location
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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.
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Latitude:34.02966100
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Longitude:-118.12788200
The Property
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Property Type:Residential Income
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Zoning:MNR3YY
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Lot Size Area:34427.0000
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Lot Size Acres:0.7903
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Lot Size SqFt:34427.00
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Lot Size Source:Assessor
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5268002020
Heating & Cooling
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Heating:1
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Heating:Radiant
Appliances
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Included:Yes
The Community
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Association:No
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Senior Community:No
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Assessments:No
Parking
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Parking:Yes
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Parking:Covered
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Parking Spaces:42.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
2/5/25
Feb 5, 2025
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Listed / Active | CRMLS_CA | $7,850,000 | 70.3% (6.9% / YR) |
|
11/20/14
Nov 20, 2014
|
CRMLS_CA | $4,610,000 |
