103 N Garfield Ave, Alhambra

Investment Overview

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