423 N Garfield, Pasadena, CA 91101

• 3 beds |
• 2 baths

Property Description

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.

Listing Status:

Active

Date Added:

February 5, 2026

Data Last Updated:

February 8, 2026 at 12:14AM

Listing Office:

Triqor Group : 949-756-3232

Listing Agent:

Ryan Loria :

MLS ID:

PW26027236

Exterior

• Pool: N/K

Location

• Originating MLS: California Regional MLS
• County: Los Angeles

Lot

• Zoning: Public Rec5725027026

Financial

• Source: California Regional MLS