423 Garfield Avenue, Pasadena, CA 91101
  • MLS#: CV24211539 ( Apartment )
  • Street Address: 423 Garfield Avenue
  • Viewed: 2
  • Price: $3,100,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1962
  • Bldg sqft: 0
  • Days On Market: 36
  • Additional Information
  • County: LOS ANGELES
  • City: Pasadena
  • Zipcode: 91101
  • Provided by: CB RICHARD ELLIS
  • Contact: ERIC ERIC
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    We are excited to exclusively offer a prime 12 unit multifamily investment opportunity in the heart of Pasadenas coveted Villa Parke neighborhood. Strategically located at 423 N Garfield Avenue, just steps from the 210 Freeway, this property boasts approximately 9,272 square feet of rentable space on a generous 11,875 square foot lot. This exceptional property offers unparalleled potential in Pasadenas vibrant market. This exceptional property offers unparalleled investment potential in Pasadenas vibrant market. With its prime location and strong tenant demand, this asset presents a unique opportunity for significant rental growth. 423 N Garfield Avenue is ideally positioned within walking distance of the eclectic and historic Old Town Pasadena, a cultural hub brimming with over 300 businesses offering diverse shopping, dining, and entertainment options. Additionally, the property is just a mile away from the renowned Pasadena Playhouse District, a premier destination known for its world class theater, museums, galleries, and upscale eateries. This prime location provides residents with easy access to a wealth of amenities, cultural experiences and top employers. The property features mature lush landscaping, laundry facility, carport and surface street parking. Units features include fully equipped kitchens with gas stoves and appliances, wall air conditioning and heating, wood like flooring throughout, carpet in bedrooms, ceiling fans and vertical blinds. The city of Pasadena is ideally located within Southern California Offering easy access to the 210, 134, 110, 2 and 5 freeways connecting to all of Los Angeles County, Ventura County, and beyond. Its location offers convenient access to neighboring cities within the San Gabriel Valley and San Fernando Valley. Significant local landmarks within a 20 mile radius include: The Huntington Library, Brookside Golf Course, The Rose Bowl, Dodger Stadium, Crypto. com Arena, Santa Anita Park, Griffith Observatory, Los Angeles Zoo, Hollywood Walk of Fame, Los Angeles County Arboretum, Hollywood Bowl, Universal Studios, and more. 423 N Garfield Avenue is a prime Pasadena income producing property and a great long term investment. The property is in a highly desirable area and offers stability for any type of investor, whether it may be a first time purchaser, seasoned investor, or a 1031 exchange buyer.
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Features
Association Fee
  1. 0.00
Building Area Total
  1. 9272.00
Carport Spaces
  1. 6.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Cooling
  1. Wall/Window Unit(s)
Country
  1. US
Electric Expense
  1. 1470.00
Fuel Expense
  1. 7143.00
Garage Spaces
  1. 0.00
Gardner Expense
  1. 1200.00
Heating
  1. Wall Furnace
Insurance Expense
  1. 7200.00
Laundry Features
  1. Common Area
Laundry Income
  1. 7606.00
Levels
  1. Two
Lot Features
  1. 11-15 Units/Acre
Netoperatingincome
  1. 146471.00
Newtaxesexpense
  1. 37029.00
Number Of Separate Electric Meters
  1. 12
Otherexpense
  1. 2400.00
Otherexpensedescription
  1. Reserves
Parcel Number
  1. 5725027026
Pest Control Expense
  1. 3733.00
Pool Features
  1. None
Postalcodeplus4
  1. 1305
Professionalmanagementexpense
  1. 6878.00
Property Type
  1. Apartment
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 425053993:CRM
Spa Features
  1. None
Suppliesexpense
  1. 1042.00
Totalactualrent
  1. 241356.00
Totalexpenses
  1. 95181.00
Trash Expense
  1. 11687.00
Uncovered Spaces
  1. 6.00
Vacancyallowance
  1. 7474
Water Sewer Expense
  1. 6999.00
Water Source
  1. Public
Year Built
  1. 1962
Year Built Source
  1. Assessor
Zoning
  1. PSR3