2428 S Garfield Ave , Monterey Park, CA 91754
$988,000
Est. Payment: $4,971.46/mo
0 Bed
0 Bath
2171 Sqft
Status: active | Days on site: 141
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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House Description

Rare opportunity to acquire a 75-year established neighborhood restaurant in Monterey Park with a long-standing reputation and loyal local following. This iconic dining destination is widely known for its unique grill-your-own-steak experience, a concept that has attracted generations of patrons and continues to differentiate the business in the marketplace. The business includes a Type 48 liquor license allowing full on-sale alcohol service and offers a vibrant evening atmosphere with karaoke entertainment on Friday and Saturday nights, contributing to consistent customer traffic and strong community engagement. The restaurant is well recognized online, with over 500 customer reviews averaging 4 stars or higher, reflecting strong brand awareness and customer satisfaction. The establishment has also been featured in multiple regional and national food and lifestyle publications, highlighting its distinctive dining concept, long-standing history, and local significance. The operation features a fully equipped commercial kitchen, dining and seating areas, fixtures, equipment, two walk-in refrigerators, and other transferable business assets. The business is being sold as-is. The property enjoys excellent visibility, accessibility, and foot traffic within an established commercial corridor, supporting ongoing business activity. This opportunity may be well-suited for an owner-operator or an experienced restaurateur seeking a proven, long-standing business with historical significance and operational continuity. Business sale must be concurrent with the sale of the real property. The business will not be sold separately. Real property is not included in the business sale price and is offered under a separate listing. Please respect the confidentiality of the business; owner and employees should not be contacted or approached regarding the sale. Information deemed reliable but not guaranteed. Buyer to conduct their own due diligence regarding business operations, licensing, and financial performance.

Highlights

Listed by Michael Luu , 626-945-9956 Michael Luu, Broker , 626-945-9956. CRMLS/Multi-Regional MLS mls logo

Property Type

Business Opportunity

County

Los Angeles

Area

641 - Monterey Park

Listing ID

AR26013749

Questions about this listing?

Contact Agent

Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:0
  • Full Bathrooms:

Exterior Features

Lot:No Land Lease
Garage Capacity:17
Principal Interest
$4,971
Taxes
$630

Home Price

$988,000

Loan Details

30 yrs
6.453%

Down Payment

20%
$197,600
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$4,971.46

Principal

Taxes

Principal Taxes HOA Total
Monthly $4,971.46 $629.85 $0.00 $5,601.31
Yearly $59,657.52 $7,558.20 $0.00 $67,215.72
Total $1,789,725.53 $226,746.00 $0.00 $2,016,471.53

Today's Rates

30 Year

6.45%

20 Year

6.33%

15 Year

5.88%

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Market insight data is pulled from the same city as the listing being viewed (Monterey Park, CA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information from California Regional Multiple Listing Service, Inc. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. All properties are subject to prior sale, change or withdrawal.

IDX service by Blueroof 360

Data last updated: 2026-08-08T22:36:24.000Z

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