306 N Garfield Ave
Monterey Park, CA 91754
Motivated Seller! Prime Retail Unit in MP · Retail Property For Sale

JUST REDUCED $50K! AGGREGATE INVESTMENT PARTNERS of KW Commercial is proud to exclusively present the opportunity to purchase this retail condo unit at 306 N Garfield Avenue #A8, in the city of Monterey Park, California. The city of Monterey Park was recently ranked No. 3 Best Places to Live by Money Magazine in 2017. Just south of Emerson Avenue on Garfield Avenue, this is a prime location with 32,000+ vehicles driving by every day. Currently leased to a seafood wholesaler with a monthly rent of $1,250, there’s a huge estimated 60% upside in rental potential yielding 6.86% cap rate (pro-forma). Built in 1986, the strip center is well-maintained and occupied with a good variety of internet-resistant tenant mix, including retail stores and professional services. Tenants include T-Mobile, insurance agency, cleaner, beauty salon, and etc. 306 N Garfield Avenue #A8 has a total building size of ± 548 SF. This location offers great convenience with short walks to Garfield Medical Center, Hong Kong Supermarket, Mark Keppel High School (GreatSchools rating of 10 out of 10), Sierra Vista Park, and Garfield and Garvey Avenue restaurants and shops. Furthermore, the location provides easy access to the 10, 60, and 710 freeways.