Property Detail
Description
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 todays 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.
Map Location
Listing provided courtesy of Ryan Loria of Triqor Group. Last updated . Listing information © 2025 SANDICOR.
Angelica Wallace
Real Estate Professional
CA DRE# 01393526
10755 Scripps Poway Parkway, Suite 521
San Diego, CA 92131
(619) 772-2054
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CA DRE# 01393526
BROKER# 01177812
10755 Scripps Poway Parkway, Suite 521 San Diego, CA 92131
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