423 North Garfield Avenue

Pasadena CA 91101

11878 sq. ft.

Multi-Family

Last sold for $2,850,000

Ryan Loria, last sold this property on 08 May 2026 after 91 days on market.

Overview

We are pleased to present Garfield Apartments, a well-maintained, value-add multifamily community located in Pasadena, California. The property features an attractive unit mix of spacious 1 and 2-bedroom units, catering to strong and consistent renter demand in this desirable submarket. Garfield Apartments offers a compelling value-add opportunity, with approximately 35% upside in rents. The property currently operates at a 5.1% cap rate and has the potential to achieve an 8% cap rate with market rents. Property amenities include covered parking, gas cooking, individual gas and electric meters, and a shared on-site laundry facility. A key differentiator of the offering is the highly attractive assumable financing, featuring a 3.58% interest rate, interest-only until 2027, and fixed until 2029. The $1.5 million assumable loan significantly enhances leveraged returns and provides a hedge against todays interest rate environment. Garfield Apartments represents a rare opportunity to acquire a stabilized, well-located asset with strong in-place income, favorable financing, and substantial upside.

Features

3 bedrooms

2 bathrooms

11878 sq. ft. lot size

Multi-Family

Estimated Value

Based on this property and similar 3 bedroom multi families sold in Pasadena over the last 12 months, the estimated median property value of 423 North Garfield Avenue is $2.9m.

Median value

$2.9m

Estimated value range

$1.33m - $5.6m

Median days on market

Estimated value trend

100%

increase over the last 12 months

Average days on market is based on recent, comparable sales in Pasadena. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 423 North Garfield Avenue

2026

Sold

$2,850,000

08 May 2026 by Ryan Loria, of Triqor Group

Happy sellers in Pasadena

We have insufficient information to provide an overview of customer satisfaction for Pasadena. Viewing the agent profiles, reviews and sales for Pasadena can provide insights for this location.