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490-498 N Garfield Ave 8,350 SF 100% Leased Office Building Montebello, CA 90640 $2,993,122 CAD ($358.46 CAD/SF) 6.05% Cap Rate
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 commercial 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 6.05% 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 6.05% 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
$2,993,122 CAD
Price Per SF
$358.46 CAD
Cap Rate
6.05%
NOI
$181,038 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
Parking
10 Spaces (1.2 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
1 1
Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 6343-005-034 | Improvements Assessment | $328,784 CAD |
| Land Assessment | $799,052 CAD | Total Assessment | $1,127,836 CAD |
Property Taxes
Parcel Number
6343-005-034
Land Assessment
$799,052 CAD
Improvements Assessment
$328,784 CAD
Total Assessment
$1,127,836 CAD
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490-498 N Garfield Ave
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