Home | Los Angeles County | Pasadena | 91101 | 423 N Garfield
MLS: CRPW26027236 | Status: | Price: $2,850,000
Beds/Baths: – / –
Property Type: Residential Income
| Beds | Baths | Sq Ft | Sq Ft Lot | Yr Built |
|---|---|---|---|---|
| – | – | – | 11,878 | 1962 |
We are pleased to present Garfield Apartments, a well-maintained, value-add multifamily community located in Pasadena, California. The property features an attractive unit mix of spacious 1 and 2-bedroom units, catering to strong and consistent renter demand in this desirable submarket. Garfield Apartments offers a compelling value-add opportunity, with approximately 35% upside in rents. The property currently operates at a 5.1% cap rate and has the potential to achieve an 8% cap rate with market rents. Property amenities include covered parking, gas cooking, individual gas and electric meters, and a shared on-site laundry facility. A key differentiator of the offering is the highly attractive assumable financing, featuring a 3.58% interest rate, interest-only until 2027, and fixed until 2029. The $1.5 million assumable loan significantly enhances leveraged returns and provides a hedge against today’s interest rate environment. Garfield Apartments represents a rare opportunity to acquire a stabilized, well-located asset with strong in-place income, favorable financing, and substantial upside.
| Field | Value |
|---|---|
| MLS # | CRPW26027236 |
| MLS Source | California Regional MLS |
| Feature | Details |
|---|---|
| Garage/Parking | Garage: 0 Car(s) |
Ryan Loria
Triqor Group
License #: 02006138
Phone: –
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | – | – |
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This listing information is up-to-date as of May 09, 2026. For the most current information, please contact Ryan Loria.