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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$7,800,000

Est. payment - /mo

0.85 Acres Lot

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UPDATED:

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26182244

HOA Y/N No

Year Built 1961

Lot Size 0.848 Acres

Property Sub-Type Apartment

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 capitalization rate. Average in-place rent is approximately $1,539 per unit compared with average asking rent of approximately $1,671.

Baldwin Valley Apartments is strategically located near Interstate 10 and State Route 60 and approximately one mile from the El Monte Metrolink Station and less than one mile from El Monte Station, providing residents convenient connectivity throughout the San Gabriel Valley and greater Los Angeles employment market. The combination of existing cash flow, proven renovation upside, additional operational income opportunities and a transit-oriented location make Baldwin Valley Apartments an attractive value-add multifamily investment opportunity.

ADU potential exists as additional upside and buyer to verify. Recent Capital Improvements include the roof, electrical system, windows, and parking lot slurry seal.

Location

State CA

County Los Angeles

Area 619 - El Monte

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 1.0

Carport Spaces 39

Garage Description 1.0

Pool Community

Community Features Curbs, Urban, Pool

Total Parking Spaces 42

Private Pool No

Building

Lot Description Irregular Lot, Level, Over 40 Units/Acre, Paved

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 8578008003

Energy Description 9000.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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Listed by Mike Marcu Mike Marcu, Broker 949 688 1224, DRE #00919594

NEARBY SCHOOL & BUSINESS

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10012 Valley El Monte, CA 91731