Occupied Four-Unit
New
For Sale
$1,680,000
1982 S Garfield, Monterey Park, CA 91754
Covered parking, garage spaces, and on-site laundry complement the income-producing residential configuration.
Property Size4,445 SF
Days on Market4
Property Features for 1982 S Garfield
General Information
Standard status
Active
Size
4,445 SF
Property subtype
Investment
Occupancy
100%
Property Condition
Severity
Minor
Evidence
does need some TLC
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
on-site laundry room
Building Details
Building Size
4,445 SF
Year Built
1977
Stories
2
Units
4
Listing Agency:
(626) 872-2207
Listed By:
Silvia Cheung
Source:
Elliman
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 13 at 9:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Silvia Cheung
Investment Insights
Based on property information with market context.
This four-unit residential property in Monterey Park is fully occupied and income-producing, with multiple covered garage spaces and additional parking. An on-site laundry room serves the property, while the individual units provide distinct outdoor and access features: Unit A includes private laundry and a driveway, Unit D has a second-level balcony, and Units B and C offer fenced front patios. The property requires some updating, providing a clear path for physical improvements over time.
Built in 1977, the quadplex is positioned near Elder Park, Edison Trails, local schools, and the 60 Freeway. The location combines access to nearby community destinations with a connection to major transportation routes. WalkScore is 63 and bikeScore is 23.
Built in 1977, the quadplex is positioned near Elder Park, Edison Trails, local schools, and the 60 Freeway. The location combines access to nearby community destinations with a connection to major transportation routes. WalkScore is 63 and bikeScore is 23.
Key Highlights
- Fully occupied four‑unit property with existing rental income
- Multiple covered garage spaces plus additional parking
- On‑site laundry room serves the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,626
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,552,520
$1.6M
Cap Rate 7%
$1,108,943
$1.1M
Cap Rate 9%
$862,511
$862.5K
Market Conditions
NOI Build-Up for 4,445 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$120.0K $27.00/SF
− Vacancy
−$9.1K −$2.05/SF
EGI
$110.9K $24.95/SF
− OpEx
−$33.3K −$7.48/SF
NOI
$77.6K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,552,520
Cap Rate 7%
$1,108,943
Cap Rate 9%
$862,511
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$970.3K – $1.29M
NOI $77,626 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$1.02M
$894.1K – $1.19M
NOI $71,524 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$2.38M
$2.08M – $2.78M
NOI $166,589 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
676
Businesses Nearby
Explore this area
Business Placement
Demographics for 91754, CA
33,300
Population
12,754
Households
2.6
Avg Household Size
44
Median Age
38%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
7,400
Density / Sq Mi
$81,890
Median Household Income
$46,992
Median Earnings
$1,884
Median Rent
$845,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Covered parking, garage spaces, and on-site laundry complement the income-producing residential configuration.
Where is this quadplex located?
The property is located at 1982 S Garfield Monterey Park, CA.
What is the asking price?
The asking price for this property is $1,680,000.
What are key features of this property?
This property features: Fully occupied four‑unit property with existing rental income; Multiple covered garage spaces plus additional parking; On‑site laundry room serves the property
