REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Eric Chen • CB RICHARD ELLIS
$ 29,000,000
Est. payment /mo
New
8408 Garvey Avenue Rosemead, CA 91770
62,730 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Commercial/Residential
Listing Status Active
Purchase Type For Sale
Square Footage 62,730 sqft
Price per Sqft $462
MLS Listing ID CV-25139025
Year Built 2022
Lot Size 1.151 Acres
Property Sub-Type Commercial/Residential
Property Description
We are proud to announce 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 location near major highways, including the I-10 and SR-60, ensures 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). 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.
Location
State CA
County Los Angeles
Area 651 - Rosemead/S. San Gabriel
Zoning RMC3
Interior
Heating Central
Flooring Vinyl
Laundry Dryer Included, Stackable, Washer Included
Exterior
Parking Features Subterranean
Pool None
Community Features Curbs, Sidewalks
Building
Lot Description Lot Over 40000 Sqft
Sewer Public Sewer