$4,748,000
$4,950,000
4.1%For more information regarding the value of a property, please contact us for a free consultation.
0.78 Acres Lot
SOLD DATE : 06/24/2022
Key Details
Sold Price $4,748,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV22056814
Sold Date 06/24/22
HOA Y/N No
Year Built 1947
Lot Size 0.780 Acres
Property Description
Private Seller Financing Available! Kristopher German of The Apartment Dealer is pleased to exclusively offer for sale this 19 unit multi-family investment portfolio in the city of Baldwin Park. Offered for sale for the first time since initial construction, the property shows pride of ownership and has had a number of capital improvements completed over the last 5 years. The offering is comprised of 3 separate, but contiguous parcels, for a total land size of 33,981 SqFt. The parcel furthest north consists of 2 detached single story cottages both of which are 2bed/1Bath units. The lot in the center is comprised of 15 rental units, all of which are 2Bed/1Bath units. The lot furthest south consists of a duplex structure with 1(2Bed/1Bath) & 1(1Bed/1Bath/With Den). The total rentable square feet for all 19 units is 15,639 SqFt. Tenants enjoy amenities such as an onsite laundry facility, sparkling pool, and onsite parking (garage, car-port and open space). Recent improvements include a new solar hot water system for the laundry room and the 15 units located on the center lot, new roofs on most buildings, new windows in most units, new electrical subpanels most units, new exterior paint, new copper main water line, and new asphalt coating. Given the length of ownership of the current owner, all tenants are long term and the rental rates have been kept well below market level. Given the disparity between the current rental rates and market rate, there is an upside potential of 76% for a new investor who works to stabilize the property. Tenants have not received a rental increase in the last 12 months so rents are ready to be increased now! Private Seller Financing Terms: 40% Down Payment, 4.5% Interest Rate, Interest Only Payments for a 2 year term.
Location
State CA
County Los Angeles
Area 608 - Baldwin Pk/Irwindale
Zoning BPR3*
Interior
Fireplace No
Laundry Common Area, Inside
Exterior
Garage Spaces 5.0
Carport Spaces 12
Garage Description 5.0
Pool Community
Community Features Curbs, Gutter(s), Street Lights, Pool
Total Parking Spaces 27
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 8414012037
Energy Description 6503.0
Acceptable Financing Cash, Cash to New Loan, Private Financing Available
Listing Terms Cash, Cash to New Loan, Private Financing Available
Financing Seller Financing
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with KRISTOPHER GERMAN • RE/MAX 2000 REALTY
GET MORE INFORMATION
REALTOR®