$7,200,000
SOLD JUN 9, 2025

804 N Garfield Ave Montebello, CA 90640

48 Beds
48 Baths
27,892 Sq Ft
0.79 Acres

Recently Sold

$258 Per Sq Ft

8% Below List Price

61 Days on Market

Highlights

  • 0.79 Acre Lot
  • Balcony
  • Laundry Room
  • Corner Lot

About This Home

As of June 2025

Discover an exceptional multifamily asset in North Montebello, the Garfield Mission Apartments. This well-maintained 28-unit property offers a diverse mix of (12) 2-bedroom, 1.75-bath units, (8) 2-bedroom, 1.5-bath Two- Story Townhome-style units, and (8) 1-bedroom, 1-bath units. With majority of rents currently eligible for increases, the property presents a realistic rental upside potential of approximately 23%. The property is complemented by strong financials, including a 5.46% cap rate and a 10.79 GIM on the current rents. Situated on North Garfield Avenue, the property is directly across from Top Golf and Quiet Cannon Golf Course/ Country Club and just two blocks from Monterey Park. With a high walkability score of 79, tenants enjoy convenient access to Montebello Plaza and are just minutes from the Monterey Park Shopping Mall. A qualified investor has the option to assume the current CHASE loan at a competitive 3.65% fixed interest rate which is fixed through August 2028, with an approximate balance of $4,326,538. The Garfield Mission Apartments feature charming landscaping, attractive architecture, and plenty of on-site covered parking. Unit amenities include either private balconies or patios, secured entry, and gated parking. Additional monthly income is generated from laundry facilities, storage rentals, pet fees, and extra parking spaces. The property is subject only to California's statewide AB1482 rent ordinance, currently set at 8.9%, with no additional local rent control restrictions.

Last Agent to Sell the Property

Shant Sherbetdjian

Remax Commercial and Investment Realty License #01713570 Listed on: 02/05/2025

Remax Commercial and Investment Realty

Last Buyer's Agent

Shant Sherbetdjian

Remax Commercial and Investment Realty License #01713570 Listed on: 02/05/2025

Remax Commercial and Investment Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 0.79 Acre Lot
  • Corner Lot

Interior Spaces

  • 27,892 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 48 Bedrooms
  • 48 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Parking

  • 42 Parking Spaces
  • 42 Covered Spaces
  • Covered Parking

Outdoor Features

  • Balcony

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Radiant Heating System

Community Details

  • 28 Units
  • Vacancy Allowance $21,835

Listing and Financial Details

  • Assessor Parcel Number 5268-002-020

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Three Or More
  • Street Number Display: Yes
  • Entry Location: Ground Level w/steps
  • Living Area: 27892
  • Lot Acreage: 0.7906
  • Probate: No
  • Stories: 3
  • Year Built: 1963
  • Number Of Photos: 44
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 48
  • Laundry: Room
  • Laundry Equipment: Lease
  • Total Bathrooms: 48.00
  • Price Per S Q F T: 281.44

Exterior Features

  • Other Structures: None
  • Patio: Balcony

Garage/Parking

  • Covered Parking: 42
  • Parking Garage: Covered Parking
  • Total Parking: 42

Utilities

  • Cooling: Wall Unit(s)
  • Heating: Radiant

Lot Info

  • Assessed Improvement Percent: 65.29
  • Assessed Improvement Value: 3546633
  • Assessed Land Percent: 34.71
  • Assessed Land Value: 1885251
  • Total Assessed Value: 5431884
  • Assessor Parcel Number: 5268-002-020
  • Lot Location: Corner Lot
  • Lot Size Area: 34427

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 10.79
  • Number Of Units: 28
  • Total Annual Expense: 277190
  • Type Of Units: Apartments
  • Vacancy Allow: 21835
  • Vacancy Allow Percent: 3.00
  • Vacancy Rate: 5

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/09/2025 06/09/25 Sold $7,200,000 -8.3% $258 / Sq Ft
04/07/2025 04/07/25 Pending -- -- --
02/05/2025 02/05/25 For Sale $7,850,000 +70.3% $281 / Sq Ft
11/20/2014 11/20/14 Sold $4,610,000 -1.5% $165 / Sq Ft
08/22/2014 08/22/14 Pending -- -- --
06/12/2014 06/12/14 For Sale $4,680,000 -- $168 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Shant Sherbetdjian

    Seller's Agent in 2025

    Shant Sherbetdjian

    RE/MAX

    (626) 657-8135

    11 in this area

    56 Total Sales

    Shant Sherbetdjian
    Section Image

  • K

    Seller's Agent in 2014

    Katie Tu

    TREELINE REALTY

    (626) 288-2332

    3 Total Sales

    Katie Tu
    Section Image

  • A

    Buyer's Agent in 2014

    Al Mantini

    L.A. Capital Group

    (626) 795-2888

    10 Total Sales

    Al Mantini
    Section Image
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Map

Source: The MLS

MLS Number: 25493507

The MLS
California Los Angeles County Montebello 90640

804 N Garfield Ave, Montebello, CA

This home is located at 804 N Garfield Ave, Montebello, CA 90640 and is currently priced at $7,200,000, approximately $258 per square foot. This property was built in 1963. 804 N Garfield Ave is a home located in Los Angeles County with nearby schools including Wilcox Elementary School, Eastmont Intermediate School, and Schurr High School.

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The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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