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Baldwin Park,CA 91706
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 17,856 sqft
Price per Sqft $308
MLS Listing ID CV24158561
HOA Y/N No
Year Built 1964
Lot Size 0.662 Acres
Acres 0.6618
Property Description
NEW PRICE! Only $229,000 per unit for all 2Bed/1Bath units in the prime San Gabriel Valley rental market! We are delighted to present this exceptional 24-unit multi-family residential investment opportunity, strategically located in the highly sought-after rental market of Baldwin Park. This well maintained property occupies a substantial 28,826 square foot lot, featuring 17,856 square feet of rentable space, composed exclusively of well-designed 2-bedroom/1-bathroom units.
Each unit is individually metered for both electricity and gas, ensuring ease of utility management and cost distribution among the tenants. The property boasts onsite amenities including ample carport parking and a laundry facility, both of which enhance tenant convenience and contribute positively to retention rates. Furthermore, a handful of units have been upgraded with modern copper plumbing and updated electrical panels, significantly boosting the functionality and attractiveness of these spaces.
For the astute investor, this property offers a compelling value-add proposition with the possibility of realizing over a 60% increase in rental income. This presents a substantial opportunity to reposition the asset and maximize returns in a market that highly values and rewards quality rental offerings.
This fully occupied, income-producing property represents a rare and lucrative investment and the opportunity to secure a significant asset with tremendous potential for revenue enhancement.
Location
State CA
County Los Angeles
Area 608 - Baldwin Pk/Irwindale
Zoning BPRG*
Rooms
Ensuite Laundry Common Area,Inside
Interior
Laundry Location Common Area,Inside
Fireplace No
Laundry Common Area,Inside
Exterior
Carport Spaces 23
Pool None
Community Features Curbs,Gutter(s),Sidewalks
Total Parking Spaces 36
Private Pool No
Building
Lot Description 21-25 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 8546025027
Energy Description 1509.0
Acceptable Financing Cash,Cash to New Loan
Listing Terms Cash,Cash to New Loan
Special Listing Condition Standard