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$ 7,800,000
Est. payment | /mo
4 Beds
5 Baths
0.85 Acres Lot
$ 7,800,000
Est. payment | /mo
4 Beds
5 Baths
0.85 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26182244
Bedrooms 4
Lot Size 0.848 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
Baldwin Valley Apartments presents a rare opportunity to acquire a 41-unit multifamily community located at 10012 Valley Boulevard in El Monte, in the heart of the San Gabriel Valley. Offered at $7,800,000, the property was built in 1961 and contains approximately 23,975 rentable square feet on a 0.85-acre site. The unit mix consists of 21 studios, 16 one-bedroom/one-bath units, two two-bedroom/one-bath units, and two two-bedroom/two-bath units. The property offers an attractive combination of current income and identifiable rental upside. Approximately 25% of the units have been extensively renovated, with renovated units achieving a demonstrated rental premium over classic units. In-place rents remain below asking rents, providing an opportunity to increase income through natural turnover and continuation of the existing renovation program. Additional potential income opportunities include increasing carport parking charges and implementing a ratio utility billing system (RUBS) to recover a portion of master-metered utility expenses. Community amenities include a swimming pool, controlled access, on-site laundry, garden/courtyard areas and covered parking. The property provides approximately one parking space per unit, including 39 carports, one two-car garage and one surface space. Electricity is individually metered, while gas, water, sewer and trash are master metered. At the asking price, the property is offered at approximately $190,244 per unit and $325 per square foot, with a 5.74% current/pro forma capitalization rate and a projected 6.00% plus Year-1 capitalizati
Location
State CA
County Los Angeles
Zoning Assessor
Direction Baldwin north form 10 freeway to Valley blvd.
Interior
Fireplace No
Exterior
Pool Community/Common
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 8578008003
Acceptable Financing Cash
Listing Terms Cash
Listed by Mike Marcu, DRE#00919594 Mike Marcu, Broker
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