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719 721 N Garfield AvenuePasadena, CA 91104
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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.
| 2 days ago | Listing first seen on site | |
| 2 days ago | Listing updated with changes from the MLS® |
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