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1/23
$988,000
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Property 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.
Full Property Details
Full Property Details for 2428 S Garfield Ave
General
- Price: $988,000
- Status: Active
- Type: Business
- Source: MRMLS
- MLS ID: AR26013749
- Updated: 6/10/2026
- Days on Market: 177 days
- Added to Site: 185 day(s) ago
Business
- Name: Established Restaurant & Bar
- Business Type: Restaurant
- Year Established: 1955
- Seating Capacity: 75
Location
- County: Los Angeles
- Driving Directions: Located south of Garvey Ave, north of the 60 Freeway, and east of Atlantic Blvd.
Structural Information
- Building Size: 2171
- Square Feet: 2,171
Financial Considerations
- Price Per Sq. Ft.: $455
Disclosures and Reports
- Exclusions: Real property; seller’s personal items; cash on hand; accounts receivable; gift cards; trademarks not owned by seller; trade name variations not registered; and any items not expressly included in the Business Listing Agreement.
- Inclusions: Furniture, fixtures and equipment (FF&E); commercial kitchen equipment; dining furniture and seating; bar equipment; two walk-in refrigerators; leasehold improvements; goodwill; and government licenses and permits, including the Type 48 liquor licens
- Property ID: 5265012018
Listed by Michael Luu, Broker, MichaelLuu
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Schools
Schools serving 2428 S Garfield Ave
School District:Montebello Unified School District
| Name | Grades | Distance |
|---|---|---|
Bella Vista Elementary School, Monterey Park, CA 2410 Findlay Avenue, Monterey Park, CA 91754 | K-5 | 0.4 mi |
Macy Intermediate School 2101 Lupine Avenue, Monterey Park, CA 91755 | 6-8 | 0.5 mi |
Schurr High School 820 North Wilcox Avenue, Montebello, CA 90640 | 9-12 | 0.6 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 2428 S Garfield Ave
Date
Details
Price
Change
Source
6/10/2026
Price Increased
$988,000
58.08%
MLS
1/12/2026
Listed
$625,000
-21.88%
MLS
7/22/2021
Sold
$800,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 2428 S Garfield Ave
Year
Property Taxes
Change
Tax Assessment
Change
2025
$20,158
1%
$1,267,081
4%
2023
$19,867
3%
$1,217,880
2%
2022
$19,234
6%
$1,194,000
5%
2021
$18,161
1%
$1,133,623
1%
2020
$18,048
3%
$1,122,000
2%
2019
$17,508
-29%
$1,100,000
-32%
2018
$24,646
391%
$1,612,620
1355%
2017
$5,018
3%
$110,856
2%
2016
$4,875
4%
$108,684
2%
2015
$4,688
2%
$107,053
2%
2014
$4,584
2%
$104,957
—
2013
$4,495
—
$104,484
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 2428 S Garfield Ave
2428 S Garfield Avenue, Monterey Park, CA 91754 (MLS# AR26013749) is a Business property. 2428 S Garfield Avenue is currently listed for $988,000 and was received on January 12, 2026. Want to learn more about 2428 S Garfield Avenue? Do you have questions about finding other Business real estate for sale in Monterey Park? You can browse all Monterey Park real estate or contact a Coldwell Banker agent to request more information.

