Property Details
About this Property
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.
MLS Listing Information
MLS #
CRPW26027236
MLS Source
California Regional MLS
Days on Site
5
Parking, School, and Other Information
Garage/Parking
Garage: 0 Car(s)
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | – | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
423 N Garfield is a Residential Income in Pasadena, CA 91101. This – square foot property sits on a 11,878 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $3,080,000 and was built in 1962. This address can also be written as 423 N Garfield, Pasadena, CA 91101.
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This listing information is up-to-date as of February 05, 2026. For the most current information, please contact Ryan Loria
