8408 Garvey Ave - Multi-Family FOR SALE


Rosemead, CA 91770- Garvey
$29,000,000 USD
909-418-2071
8408 Garvey Ave, Rosemead, CA for Sale
$29,000,000 USD
Multi-Family - FOR SALE
1/42
null | 4.87% Cap Rate

8408 Garvey Ave
Rosemead, CA 91770
Garvey


HIGHLIGHTS

  • RARE TROPHY ASSET: A truly unique mixed-use investment opportunity in Rosemead, California, offering a newly constructed building
  • STRONG IN-PLACE RETURNS: This newer construction property in a prime San Gabriel Valley location boasts a favorable 4.87% in-place cap rate
  • DESIRABLE UNIT MIX: Spacious 2-and 3-bedroom flats averaging 1,054 square feet each. Some ADA Compliant Units Available (Ovens Not Included).
  • UPSCALE IN-UNIT COMFORT: Residences feature central air conditioning/heating, fully equipped kitchens with dishwashers, in-unit washers/dryers, etc
  • NEARBY TRANSIT: Offers seamless access to Southern California via major highways like the I-10 and SR-60
  • RETAIL & ENTERTAINMENT NEARBY: Residents benefit from immediate retail convenience at the Shops at Montebello

OVERVIEW

CBRE is proud to announce its exclusive advisory role in the offering of Garvey Garden Plaza, a truly unique mixed-use investment opportunity in Rosemead, California. Garvey Garden Plaza, located at 8408-8418 Garvey Avenue in Rosemead, CA 91770, is a newly constructed building offering three ground-floor modified gross retail spaces and 46 residences on its upper levels. Situated at the bustling corner of Garvey Avenue and Delta Avenue, in the western part of the San Gabriel Valley, this strategic location provides investors with direct access to a robust working-class demographic, positioning this asset for a buy-and-hold strategy aimed at generating generational wealth. This mixed-use development offers residents excellent connectivity to a wide array of amenities and transportation options. Its proximity to the Shops at Montebello provides immediate retail convenience, while its advantageous location near major highways, including the I-10 and SR-60, ensures seamless access to all of Southern California's diverse attractions, from the beaches of the Pacific to the scenic San Gabriel Mountains. Garvey Garden Plaza is a well-constructed, four-story community offering 62,730 square feet and spanning across a 50,132 square foot lot. This unique opportunity positions a new investor for significant returns within a prime San Gabriel Valley community. The property offers a desirable mix of two-bedroom and three-bedroom residences, complemented by three retail tenants. Residents enjoy a host of on-site amenities that include a courtyard with outdoor seating, elevator access, surface and reserved subterranean parking, controlled access for enhanced security, and creative drought-tolerant landscaping that creates a pleasant atmosphere. Individual units feature a variety of appealing interior amenities: central air conditioning and heating, fully equipped kitchens with dishwashers, in-unit washers and dryers, vinyl wood flooring, vertical blinds, and private balconies. There are some ADA compliant units available (ovens not included). Rosemead boasts a dynamic and well-diversified economy, anchored by significant employment centers in sectors such as healthcare, manufacturing, and accommodation & food services. The city's economic vitality is further bolstered by its strong ties to the broader Los Angeles County economy, which is a global powerhouse in entertainment, technology, biosciences, and trade. This robust economic backdrop supports a stable workforce and ongoing job growth, creating a consistently high demand for well-located residential and commercial properties. Rosemead also cultivates a business-friendly environment, attracting diverse industries and contributing to its sustained economic prosperity. Garvey Garden Plaza stands out as a prime, income-producing asset in Rosemead, presenting a compelling long-term investment. This newer construction property, ideally situated in a desirable San Gabriel Valley location, offers attractive returns with a favorable 4.87% in-place cap rate. It represents a stable and appealing opportunity for a diverse range of investors, from first-time buyers and seasoned professionals to those seeking 1031 exchange benefits.

FOR SALE DETAILS

PRICE

$29,000,000 USD

PRICE/SF

$462 USD /SF

# OF UNITS

46

PRICE/UNIT

$630,435

CAP RATE

4.87%

% LEASED

98%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Garvey Garden Plaza

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2022

PARKING SPACES

115

LAND DETAILS

LAND ACRES

1.15 AC

LAND SF

50,132 SF

ZONING

-

APN/PARCEL ID

5283-005-028

ASK ABOUT THIS PROPERTY

Eric ChenCBRE, Inc.More Info
909-418-2071

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Eric ChenCBRE, Inc.More Info
909-418-2071

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.