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Property profile & analytics
OFF-MARKET
Estimated value
$625,000
Office buildings
240 Garfield Ave Monterey Park, CA 91754-2906
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-7757363
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1952
Construction
TILT-UP CONCRETE
Total area
2,226 SF
Lot
0.21 ac (9,122 SF)
Zoning code
MPC3*
APN
5257-015-013
UPID
US09-7757363
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
David Gao, Lac Alternative Medicine Practice Acupuncture
-
Yeung Philip CPA Accounting Firm Tax Preparation
-
Bai Xao Herb Acupuncture Center Medical Clinic Alternative Medicine Practice
-
高百笑诊所 Alternative Medicine Practice Acupuncture
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$800k
Comparable Approach
Comparable
$868k
Blend (final)
Blend
$625k
Owner & transaction history
Newmark And Garfield LLC · 4 yrs held
Newmark And Garfield LLC
since 2021
6 recorded transactions
Zoning & alternative use
MPC3* · Monterey Park, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.0M
+19.5%
Medical building
$1.0M
+17.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Monterey Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monterey Park submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$865,000
6.5%
$800,000
7%
$740,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$860,000
Current use
AUTO REPAIR, GARAGE
$1,030,000
Change: +19% · Conversion: Difficult
MEDICAL BUILDING
$1,010,000
Change: +17% · Conversion: Easy
RETAIL STORES
$855,000
Change: -1% · Conversion: Moderate
Blend value · Realmo final
$625k
Range $563k – $688k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$281 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$8,873
Tax year 2024
Assessed value
$633,216
Assessed 2024
Previous assessed
$633,216
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$348,885
Assessed improvement
$284,331
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1952
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
2,226 SF
Lot
0.21 ac (9,122 SF)
Zoning code
MPC3*
APN
5257-015-013
UPID
US09-7757363
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
MPC3* · Monterey Park, CA
Zoning MPC3* · permitted uses
MPC3* · Monterey Park, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Monterey Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$860,000
AUTO REPAIR, GARAGE
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$1.0M
RETAIL STORES
Est. value
$855,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1952
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
Newmark And Garfield LLC
Entity
Mailing address
728 TEGNER DR, MONTEREY PARK, CA 91755-5739
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 9, 2021
—
Newmark And Garfield LLC
Phillip Kim Ho Yeng
Grant Deed
$300,000 · Us Bank NA
Feb 26, 2019
—
Philip K Yeung Cpa
—
Deed
related
$70,000 · Five Star Bk
May 14, 1999
$127,500
Yeung,philip K
Spitz,eric D
Trustees Deed
$155,000 · Standard Savings Bank
May 14, 1999
—
Philip K Yeung
Yeung,g
Quit Claim Deed
related
—
—
—
Philip K Yeung Cpa
—
Deed Of Trust
related
$70,000 · Five Star Bk
—
—
Philip K Yeung
—
Deed Of Trust
related
$400,000 · Hsbc Bank USA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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