423 N Garfield, Pasadena, CA 91101

Pasadena
Local realty services provided by:Better Homes and Gardens Real Estate Napolitano & Associates
423 N Garfield,Pasadena, CA 91101
$3,080,000
  • 3 Beds
  • 2 Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: ryan loria
Office: triqor group
MLS#:PW26027236
Source:San Diego MLS via CRMLS

Price summary

  • Price:$3,080,000

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 todays interest rate environment. Garfield Apartments represents a rare opportunity to...

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Home facts

  • Listing ID #:PW26027236
  • Added:51 day(s) ago
  • Updated:March 29, 2026 at 02:09 PM

Rooms and interior

  • Bedrooms:3
  • Total bathrooms:2

Finances and disclosures

  • Price:$3,080,000
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