14521 Clark St - Apartments FOR SALE


Baldwin Park, CA 91706
$7,995,000 USD
909-418-2071
14521 Clark St, Baldwin Park, CA for Sale
$7,995,000 USD
Apartments - FOR SALE
1/40
null | 5.16% Cap Rate

14521 Clark St
Baldwin Park, CA 91706


HIGHLIGHTS

  • Favorable Interest Only Seller Financing Available - Contact for Details
  • Excellent East San Gabriel Valley Location – Centrally Located Just off the 10 Fwy within a 15-mile Drive to DTLA, San Bernardino, and Orange Counties
  • Boasts a Strong Going-In CAP Rate of 5.16% and GRM of 12.68 – Opportunity to Capitalize on Over 5% Cash-on-Cash Return when Utilizing Favorable Seller
  • Exceptional Unit Mix consisting of 12, 1-Bedroom/1-Bathroom & 14, 2-Bedroom/ 1-Bathroom Units, Averaging 745 SF Per Unit
  • Historically Low Maintenance Property with RUBS System In-Place
  • Gated Front Entrance, Newer Pool Swimming Pool Update, All Carport Retrofit have Been Completed

OVERVIEW

CBRE, Inc., as exclusive advisor, is proud to present 14521 Clark Street, a 26-unit multifamily asset in the City of Baldwin Park, a prime rental market within the San Gabriel Valley of Los Angeles County. The property offers ±19,384 SF and sits on a large ±36,138 SF lot. The Kimberly Apartments benefit from being centrally located just off the 605 & 10 Freeways. Within a short 20-mile drive tenants can reach destinations and notable attractions in Pasadena, DTLA, Orange County, and San Bernardino County. Notable Attractions like Dodger Stadium, SOFI Stadium, Santa Anita Pike Outlets in Long Beach, Victoria Gardens in Rancho Cucamonga, and Downtown Covina are all within a 30-min drive in any direction of the property. Locally, tenants have quick access to big name retailers like Kaiser Permanente Medical Hospital, Home Depot, Target, In-N-Out, Chick-Fil-A, and several convenience stores. Kimberly Apartments is also a short 5-minute walk to Downtown Baldwin Park off of Maine Ave and Ramona Blvd. Tenants enjoy their proximity to the heavy retail corridor with retail tenants that include McDonalds, King Taco, El Super, Waba Grill, and many more frequently visited places. Kimberly Apartments boasts strong in-place income generating ±$49,659 in monthly rents. Additional income at the property stream from on-site parking, laundry facilities, pet income, and the Ratio Utility Billing System implemented already. The total scheduled income for the property exceeds $630,000 annually. Kimberly Apartments offers an exceptional unit mix of 12, 1-Bedroom/1-Bathroom and 14, 2-Bedroom/1-Bathroom apartments. The units average 745 SF each and currently generate an average rent of $1,910. Similar units in the area have leased for an average of $2,215, which leaves about 15% remaining upside for a new investor to capitalize on an already renovated asset in great condition. Tenants enjoy favorable amenities at the property like secured pad entry access, covered on-site parking, on-site laundry facilities, secure pool access, and ample community area space. The seller is offering favorable interest only financing, which creates a path for a new investor to benefit from 5+% cash-on-cash returns from day one.

FOR SALE DETAILS

PRICE

$7,995,000 USD

PRICE/SF

$412 USD /SF

# OF UNITS

26

PRICE/UNIT

$307,500

CAP RATE

5.16%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kimberly Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

39

LAND DETAILS

LAND ACRES

0.83 AC

LAND SF

36,139 SF

ZONING

BPR3*

APN/PARCEL ID

8437-002-030

ASK ABOUT THIS PROPERTY

Eric ChenCBRE, Inc.More Info
909-418-2071

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Eric ChenCBRE, Inc.More Info
909-418-2071

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.