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    490 Garfield Ave Montebello, CA 90640

    Sponsored
    For Sale
    $2,200,000

    8,350 SF, 6-unit, high-traffic location.

    Property size:
    8,350 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property, located at 490 N Garfield Ave, Montebello, CA 90640, presents a compelling value-add investment opportunity. The 8,350 square foot building, constructed in 1956, features a blend of retail, office, and apartment spaces across two stories. Currently 100% occupied with six tenants, the property boasts a strong pro-forma NOI of $180,992 and a pro-forma cap rate of 8.23%. The asking price is $2,200,000, translating to $263.47 per square foot. The property benefits from a prime location on a main corridor with high traffic volume, exceeding 50,000 cars daily at the intersection of N Garfield Ave and W Beverly Blvd. The building offers prominent street frontage and easy access. Existing leases are short-term, providing immediate upside potential for the new owner. The property includes four parking spaces and is offered fee simple. The Los Angeles County Assessor's Parcel Number (APN) is 6343-005-034. The current occupancy date is June 1st, 2024, with leases expiring May 1st, 2025, representing a remaining lease term of approximately 0.4 years. This presents a unique chance to acquire a well-positioned, income-generating asset with significant potential for future growth. The property is classified as an apartment building, storefront, and traditional office space.

    Property Features for 490 Garfield Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,350 SF

    Building Details

    Year Built
    1956
    Buildings
    1
    Stories
    2
    Units
    6

    HighLights

    • Mixed‑use commercial building on Garfield Ave, Montebello, CA.
    • High‑traffic location at the intersection of Garfield Ave and Beverly Blvd, with over 50,000 cars daily.
    • Short‑term leases provide immediate value‑add opportunity.
    • Currently 100% occupied with six commercial and residential units.
    • 8,350 square foot building with four parking spaces, offered fee simple.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Montebello
    County
    Los Angeles
    State
    California
    Longitude
    -118.13423639801
    Latitude
    34.021423659186

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    FAQs

    What type of property is this?
    Individual retail property - 8,350 SF, 6-unit, high-traffic location.
    Where is this individual retail property located?
    The property is located at 490 Garfield Ave Montebello, CA.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Mixed-use commercial building on Garfield Ave, Montebello, CA.; High-traffic location at the intersection of Garfield Ave and Beverly Blvd, with over 50,000 cars daily.; Short-term leases provide immediate value-add opportunity.
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    490 Garfield Ave Montebello, CA 90640
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    Montebello, CA 90640
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    490 Garfield Ave Montebello, CA 90640
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