804 N Garfield Ave, Montebello, CA 90640

$7,850,000

bedrooms

bathrooms

square feet

27,892

Acreage

0.7906

Open Houses

year built

1963

Full Baths

Half Baths

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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 5.46% cap rate and a 10.79 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
Subdivision	-
County	Los Angeles
Elementary School	-
Middle School	-
High School	-

Exact location data not provided

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Open houses

None scheduled.

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MLS number: 25493507

Listing agent: Shant Sherbetdjian

Listing broker: Re/Max Commercial & Investment (310) 802-2500

Last update: Tuesday, April 22 2025 at 3:30 p.m. EDT

Kotohomes National