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490-498 N Garfield Ave
Montebello, CA 90640
Office Property For Sale
Investment Highlights
- 100% Occupied Mixed-Use Property – Consisting of 2 Residential Units and 4 Commercial Units
- Value-Add Opportunity – Potential to increase NOI by converting existing Gross Leases to NNN or Modified Gross
- Strong In-Place Cap Rate of 5.78% – Attractive current cash flow for investors
- Upside Through Expense Recovery – Opportunity to recapture operating expenses and improve long-term returns
Executive Summary
Urban Real Estate is pleased to present 490–498 N. Garfield Ave, Montebello, a 100% occupied mixed-use investment property comprised of 2 residential units and 4 commercial units in a strong, up-and-coming trade area.
The asset currently offers an attractive 5.78% cap rate, supported by stable in-place income and full occupancy. In addition to its current yield, the property presents meaningful value-add potential through future lease repositioning. The existing commercial leases are currently structured as gross leases, creating an opportunity for new ownership to transition terms toward NNN or expense-recovery structures, which may increase net operating income over time.
With a desirable location, reliable tenant occupancy, and upside through improved lease economics, this property is well positioned for investors seeking both immediate cash flow and long-term appreciation potential.
The asset currently offers an attractive 5.78% cap rate, supported by stable in-place income and full occupancy. In addition to its current yield, the property presents meaningful value-add potential through future lease repositioning. The existing commercial leases are currently structured as gross leases, creating an opportunity for new ownership to transition terms toward NNN or expense-recovery structures, which may increase net operating income over time.
With a desirable location, reliable tenant occupancy, and upside through improved lease economics, this property is well positioned for investors seeking both immediate cash flow and long-term appreciation potential.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
8,350 SF
Building Class
C
Year Built
1956
Price
$3,152,817 CAD
Price Per SF
$377.58 CAD
Cap Rate
5.79%
NOI
$182,406 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
8,350 SF
Slab To Slab
10’
Building FAR
1.13
Lot Size
0.17 AC
Zoning
R1M - Single-Family Residential (Manufactured Home)
Parking
4 Spaces (0.48 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
Property Taxes
| Parcel Number | 6343-005-034 | Improvements Assessment | $329,493 CAD |
| Land Assessment | $800,776 CAD | Total Assessment | $1,130,268 CAD |
Property Taxes
Parcel Number
6343-005-034
Land Assessment
$800,776 CAD
Improvements Assessment
$329,493 CAD
Total Assessment
$1,130,268 CAD
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