490 Garfield Ave, Montebello, CA 90640-2929
- Investment properties
- 6,531 SF
- 0.23 lot acres
Current Use by Public Records
- Investment properties
Property Details for 490 Garfield Ave
- Year built
- 1956
- Construction
- WOOD
- Lot size
- 0.23 lot acres
- Zone code
- MNC2
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 6343-005-034
- APU
- 6343005034
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Nov 15, 2024 | — | Eun Sung Enterprise LLC | — | Deed · related | $400k · The Maestro Investment LLC |
| Dec 28, 2022 | — | Eun Sung Enterprise LLC | — | Deed · related | $200k · Mihee Kim |
| Feb 21, 2020 | — | Eun Sung Enterprise LLC | — | Deed · related | $1.1M · Us Metro Bank |
| Oct 30, 2018 | — | Eun Sung Ent LLC | — | Deed · related | $450k · Rashall Charles P L/tr (lt) |
| Jun 30, 2015 | $625,000 | Eun Sung Ent LLC | Mungo Dan & M Family Trust | Grant Deed | $473k · Robert F Loughridge |
| Oct 11, 2007 | — | Mungo,dan & M Fam Trust B | Mungo Dan & M Fam Trust | Quit Claim Deed · related | — |
| — | — | Eun Sung Ent LLC | — | Deed Of Trust · related | $450k · Rashall Charles P L/tr (lt) |
| — | — | Eun Sung Ents LLC | — | Deed Of Trust · related | $63k · Js Pacific Partners INC |
Description
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.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,413,000
Market price range: $1.41M - $2.41M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,775,000 Current use
- INDUSTRIAL (GENERAL)
- $1,770,000 Change: -0% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Montebello
- County
- Los Angeles
- State
- California
- Longitude
- -118.134
- Latitude
- 34.0216
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
