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33708264
33708263

103 N Garfield Ave, Alhambra, CA 91801

MO
CA 02073450
Lee & Associates - Pasadena
JB
CA 01799514
Lee & Associates - Pasadena
Listed by Lee & Associates - Pasadena
$4,998,888
16 days on market
Updated 16 days ago

103 N Garfield Ave

Details
APN 5337019021
Property Type Office
Sub Type Medical Office
Square Footage 11,224
Units 20
NOI $180,000
Occupancy 100%
Tenancy Multi
Lease Type Modified
Pro-Forma NOI $275,000
Price per SqFt $445
Year Built 1990
Stories 2
Zoning CBD
Investment Type Value Add

Medical Office Value-Add Investment in Alhambra

Marketing description

103 N Garfield Ave presents a rare opportunity to acquire a fully occupied medical and professional office building in the heart of Alhambra's Central Business District. The ±11,224-square-foot property benefits from excellent visibility, strong traffic counts, and a prime location within one of the San Gabriel Valley's most active commercial corridors. Surrounded by a vibrant mix of highly regarded restaurants and situated directly across from a major movie theater, the property enjoys consistent daytime and evening activity that supports strong tenant demand.

Currently 100% occupied, the asset provides stable in-place income with significant upside through the repositioning of below-market rents and improved expense recoveries under its modified gross lease structure. With an in-place NOI of approximately $180,000 and projected NOI exceeding $275,000, the property offers a compelling value-add opportunity for investors seeking dependable cash flow and meaningful income growth in a highly desirable market.

Investment highlights

  • ±11,224 SF multi-tenant medical/office building
  • 100% occupied with stable in-place income
  • Significant value-add opportunity with ~50%+ NOI upside
  • Pro forma NOI of approximately $275K+
  • Below-market rents across multiple tenants
  • Lease rollover provides mark-to-market rental growth
  • Modified gross leases allow for improved expense recovery over time
  • Recent capital improvements completed, including parking lot upgrades
  • Strong tenant demand for medical and professional office space in the submarket

Listing Contacts

MO
CA 02073450
Lee & Associates - Pasadena
JB
CA 01799514
Lee & Associates - Pasadena
Listed by Lee & Associates - Pasadena

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$180,000.00
$15,000.00/mo

Valuation Metrics

0
DSCR
3.6%
Cap Rate
3.6%
ROI

Map

Zoning

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CBD CommercialCore CommercialCentral Business District
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View all 72 uses
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Last updated May 25, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Tax History

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