719 N Garfield Avenue
Pasadena, CA, 91104
$3,600,000
Beds
0 Baths
SqFt
0.32 Acres
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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.

Property Details

Price:
$3,600,000
MLS #:
PW25156120
Status:
Active
Baths:
0
Address:
719 N Garfield Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
645pasadenanw
City:
Pasadena
Listed Date:
Jul 11, 2025
State:
CA
ZIP:
91104
Lot Size:
13,908 sqft / 0.32 acres (approx)
Year Built:
1963
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