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423 N Garfield, Pasadena, CA 91101

Pasadena
Local realty services provided by:CENTURY 21 Classic Estates
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:121 day(s) ago
  • Updated:June 07, 2026 at 06:44 AM

Structure and exterior

  • Year built:1962
  • Lot Features:Irregular Lot

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$2,850,000
The information being provided by California Regional MLS (Southern California) is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS (Southern California). CENTURY 21 Classic Estates is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of CENTURY 21 Classic Estates, a broker participant of California Regional MLS (Southern California). This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, including but not limited to open house information, square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by California Regional MLS (Southern California) and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2021 California Regional MLS (Southern California). All rights reserved. CRMLS Member Broker: Sol Almarines

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