423 N Garfield, Pasadena, CA 91101

Pasadena
Local realty services provided by:Better Homes and Gardens Real Estate Clarity
423 N Garfield,Pasadena, CA 91101
$2,850,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Sold
Listed by: ryan loria
Office: triqor group949-756-3232
MLS#:PW26027236
Source:CRMLS

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Price summary

  • Price:$2,850,000

About this home

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...

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Home facts

  • Year built:1962
  • Listing ID #:PW26027236
  • Added:96 day(s) ago
  • Updated:May 13, 2026 at 06:41 AM

Structure and exterior

  • Year built:1962
  • Lot Features:Irregular Lot

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$2,850,000
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