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$ 625,000
Est. payment /mo
Active
2428 S Garfield AVE Monterey Park, CA 91754
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26013749
HOA Y/N No
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.
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.
Location
State CA
County Los Angeles
Area 641 - Monterey Park
Interior
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
Fireplace No
Exterior
Total Parking Spaces 17
Others
Tax ID 5265012018
Acceptable Financing Cash, Cash to New Loan, Conventional, Contract
Listing Terms Cash, Cash to New Loan, Conventional, Contract
Listed by Michael Luu Michael Luu, Broker 626-945-9956