490-498 N Garfield
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Marketing description
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.
Investment highlights
100% Occupied Mixed-Use Property – Consisting of 2 Residential Units and 4 Commercial Units
Strong In-Place Cap Rate of 5.78% – Attractive current cash flow for investors
Value-Add Opportunity – Potential to increase NOI by converting existing Gross Leases to NNN or Modified Gross
Upside Through Expense Recovery – Opportunity to recapture operating expenses and improve long-term returns
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