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Property profile & analytics
FOR SALE
Turn key restaurants
2428 S Garfield Ave Monterey Park, CA 91754
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-7543249
For Sale
1 / 22
$1,297,000
2428 S Garfield Ave, Monterey Park, CA 91754
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1952
Construction
TILT-UP CONCRETE
Total area
2,171 SF
Lot
0.19 ac (8,184 SF)
Zoning code
MPC4*
APN
5265-012-018
UPID
US09-7543249
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
-
Venice Room Bar & Pub Nightclub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$740k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$775k
Owner & transaction history
Jack Hendricks LLC · 4 yrs held
Jack Hendricks LLC
since 2021
Last sale
$800,008
6 recorded transactions
Zoning & alternative use
MPC4* · Monterey Park, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$750,000
ML approach
$740,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$775k
Range $698k – $853k · ±10% · vs last sale $800k (Aug 3 2021)
Last sale anchor
$800k
Aug 3 2021
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
$357 / 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
$19,894
Tax year 2024
Assessed value
$1,242,237
Assessed 2024
Previous assessed
$1,242,237
+0.0% YoY
Effective rate
1.60%
On assessed value
Assessed land
$728,280
Assessed improvement
$513,957
Applied tax rate
6.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1952
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
2,171 SF
Lot
0.19 ac (8,184 SF)
Zoning code
MPC4*
APN
5265-012-018
UPID
US09-7543249
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
MPC4* · Monterey Park, CA
Zoning MPC4* · permitted uses
MPC4* · 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.
Building & site characteristics
From public records
Year built
1952
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Jack Hendricks LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1441 HUNTINGTON DRPMB3030, SOUTH PASADENA, CA 91030-4512
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
Aug 3, 2021
$800,000
Jack Hendricks LLC
Jb Mez Group LLC
Grant Deed
—
Oct 12, 2018
$1,100,000
Jb Mez Group LLC
Salvatore F Lombardo
Grant Deed
$715,000 · Pacific Alliance Bank
Mar 21, 2016
—
Lombardo,joseph Trust
Lombardo Living Trust
Quit Claim Deed
related
—
Sep 4, 2015
—
Lombardo,joseph Trust
Lombardo Living Trust
Quit Claim Deed
related
—
Jul 12, 1994
—
Lombardo,joseph & Mary Co-truste
Lombardo,j&m
Quit Claim Deed
related
—
Oct 28, 1958
—
—
—
Grant Deed
related
—
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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