8408 Garvey Avenue, Rosemead, CA 91770
  • MLS#: CV25139025 ( Commercial/Residential )
  • Street Address: 8408 Garvey Avenue
  • Viewed: 2
  • Price: $29,000,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 2022
  • Bldg sqft: 0
  • Days On Market: 29
  • Additional Information
  • County: LOS ANGELES
  • City: Rosemead
  • Zipcode: 91770
  • Provided by: CB RICHARD ELLIS
  • Contact: Eric Eric
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    We are proud to announce the offering of Garvey Garden Plaza, a truly unique mixed use investment opportunity in Rosemead, California. Garvey Garden Plaza, located at 8408 8418 Garvey Avenue in Rosemead, CA 91770, is a newly constructed building offering three ground floor modified gross retail spaces and 46 residences on its upper levels. Situated at the bustling corner of Garvey Avenue and Delta Avenue, in the western part of the San Gabriel Valley, this strategic location provides investors with direct access to a robust working class demographic, positioning this asset for a buy and hold strategy aimed at generating generational wealth. This mixed use development offers residents excellent connectivity to a wide array of amenities and transportation options. Its proximity to the Shops at Montebello provides immediate retail convenience, while its location near major highways, including the I 10 and SR 60, ensures access to all of Southern California's diverse attractions, from the beaches of the Pacific to the scenic San Gabriel Mountains. Garvey Garden Plaza is a well constructed, four story community offering 62,730 square feet and spanning across a 50,132 square foot lot. This unique opportunity positions a new investor for significant returns within a prime San Gabriel Valley community. The property offers a desirable mix of two bedroom and three bedroom residences, complemented by three retail tenants. Residents enjoy a host of on site amenities that include a courtyard with outdoor seating, elevator access, surface and reserved subterranean parking, controlled access for enhanced security, and creative drought tolerant landscaping that creates a pleasant atmosphere. Individual units feature a variety of appealing interior amenities: central air conditioning and heating, fully equipped kitchens with dishwashers, in unit washers and dryers, vinyl wood flooring, vertical blinds, and private balconies. There are some ADA compliant units available (ovens not included). Garvey Garden Plaza stands out as a prime, income producing asset in Rosemead, presenting a compelling long term investment. This newer construction property, ideally situated in a desirable San Gabriel Valley location, offers attractive returns with a favorable 4.87% in place cap rate. It represents a stable and appealing opportunity for a diverse range of investors, from first time buyers and seasoned professionals to those seeking 1031 exchange benefits.
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Features
Appliances
  1. Built-In Range
  2. Dishwasher
Association Fee
  1. 0.00
Building Area Total
  1. 62730.00
Carport Spaces
  1. 115.00
Commoninterest
  1. None
Common Walls
  1. 2+ Common Walls
Cooling
  1. Central Air
Country
  1. US
Electric Expense
  1. 29226.00
Flooring
  1. Vinyl
Fuel Expense
  1. 328.00
Garage Spaces
  1. 0.00
Gardner Expense
  1. 4800.00
Heating
  1. Central
Insurance Expense
  1. 23832.00
Laundry Features
  1. Dryer Included
  2. Stackable
  3. Washer Included
Levels
  1. Three Or More
Lot Features
  1. Lot Over 40000 Sqft
Netoperatingincome
  1. 1412262.00
Newtaxesexpense
  1. 370364.00
Number Of Separate Electric Meters
  1. 46
Number Of Separate Gas Meters
  1. 46
Otherexpense
  1. 9200.00
Otherexpensedescription
  1. Reserves
Parcel Number
  1. 5283005028
Parking Features
  1. Subterranean
Pool Features
  1. None
Professionalmanagementexpense
  1. 98152.00
Property Type
  1. Commercial/Residential
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 441413365:CRM
Spa Features
  1. None
Suppliesexpense
  1. 6913.00
Totalactualrent
  1. 1597680.00
Totalexpenses
  1. 590379.00
Trash Expense
  1. 6337.00
Uncovered Spaces
  1. 0.00
Vacancyallowance
  1. 71439
Water Sewer Expense
  1. 18227.00
Water Source
  1. Public
Year Built
  1. 2022
Year Built Source
  1. Assessor
Zoning
  1. RMC3