Office Condominium with Underground
For Sale
$299,999
401 Garfield Avenue, Monterey Park, CA 91754
Office unit built in 2007 with underground parking and 100% occupancy near major traffic corridors.
Property Size730 SF
Price / SF$410.96
Days on Market333
Property Features for 401 Garfield Avenue
General Information
Standard status
Active
Size
730 SF
Property subtype
Office
Occupancy
100%
Additional Details
Highway Access
Yes
Amenities
underground parking lot
3
Building Details
Year Built
2007
Listing Agency:
High Ten Partners, Inc.
(626) 289-6660
Listed By:
LUCY CLARKE · License #01877350
Source:
Xome
Added: Sep 13, 2025
Changed: Aug 8
Last Checked: Aug 10 at 2:28AM
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 High Ten Partners, Inc.
Investment Insights
Based on property information with market context.
This office condominium (Unit H) was built in 2007 and features underground parking. The property is currently 100% occupied, reflecting strong in-place tenancy.
Located at 401 S Garfield Avenue in Monterey Park, the building is positioned on Garfield Ave in a high-traffic area and is close to Garvey Ave. It also offers convenient access to freeways 10 and 60.
Offered for sale, the asset presents an owner-controlled commercial office option with structured parking and a fully occupied status.
Located at 401 S Garfield Avenue in Monterey Park, the building is positioned on Garfield Ave in a high-traffic area and is close to Garvey Ave. It also offers convenient access to freeways 10 and 60.
Offered for sale, the asset presents an owner-controlled commercial office option with structured parking and a fully occupied status.
Key Highlights
- Office unit built in 2007
- Underground parking lot
- 100% occupied (property has 100% occupancy)
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
$15,957
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
5.32%
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%
$319,140
$319.1K
Cap Rate 7%
$227,957
$228.0K
Cap Rate 9%
$177,300
$177.3K
Market Conditions
NOI Build-Up for 730 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
$28.0K $38.40/SF
− Vacancy
−$6.8K −$9.25/SF
EGI
$21.3K $29.15/SF
− OpEx
−$5.3K −$7.29/SF
NOI
$16.0K $21.86/SF
Area
Los Angeles County, CA
Vacancy
24.10%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
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%
$319,140
Cap Rate 7%
$227,957
Cap Rate 9%
$177,300
Alternative Uses
Best Use
Office B
$228.0K
$199.5K – $266.0K
NOI $15,957 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$390.8K
$342.0K – $456.0K
NOI $27,359 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,859
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office unit built in 2007 with underground parking and 100% occupancy near major traffic corridors.
Where is this office building located?
The property is located at 401 Garfield Avenue Monterey Park, CA.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Office unit built in 2007; Underground parking lot; 100% occupied (property has 100% occupancy)
