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Listed price in listed location currency (USD).
$3,080,000

000

MLS® PW26027236

  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Residential Income
Size -
Garage No
HOA Fees 
Taxes 
Days Active 1
Approx. Age 1962
MLS® Number PW26027236

Property Address: 423 N Garfield, Pasadena, CA, 91101

Average square foot calculated using Size range provided by listing agent.

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 today’s 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.
MLS® NumberPW26027236
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry LevelCommon Area
Exposure
Exterior
GarageNo
Approx. Age1962
Stories2
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Feb 5, 2026List Date
$3,080,000List Price

Home Appraisal

This property is estimated to sell between: $2,842,000 and $3,199,000.
Similar properties in this area sold on average for: $2,842,280
Expected to sell in 82 days. Similar properties sold in 83 days. This home has been on eXp Realty for 1 day.

The estimated sale price does not take into account many variables such as recent renovations, type of appliances, school district etc. To get a more accurate estimate please contact agent.

  • Commute

Commute

Starting Address
Destination Address
423 N Garfield, Pasadena, CA

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