490 Garfield Ave Montebello, CA 90640
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8,350 SF, 6-unit, high-traffic location.
Property size:
8,350 SFProperty 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
Listing Agency: Kidder Mathews Listing Agent: Patrick Ylagan
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 Profile
Insight Report
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Montebello
- County
- Los Angeles
- State
- California
- Longitude
- -118.13423639801
- Latitude
- 34.021423659186
Nearby Similar for Sale
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.
