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4926 Maine Avenue

Baldwin Park, CA 91706
  • $4,950,000
  • STATUS: Pending
  • ON SITE: 64 Days
  • ID#: CV22056814
Pending
UPDATED: 33 min ago
$4,950,000
  • 0
    BEDS
  • 0.78
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1947
County:

School Ratings & Info

Listing Agent(s): Kristopher German of Re/Max 2000 Realty (626-956-0188)


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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-26T19:33:55.463. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
www.northsdrealty.com/homes/126966984
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4926 Maine Avenue Baldwin Park, CA 91706

  • Price: $4,950,000
  • Status: Pending
  • On Site: 64 Days
  • Updated: 33 min ago
  • ID#: CV22056814
0
Beds
0
Baths
0
½ Baths
0.78
Acres
1947
Built
Neighborhood:
608 - Baldwin Pk/Irwindale
County:
Los Angeles
Area:
608 - Baldwin Pk/Irwindale
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.
Exterior Features

Carport Spaces 12 Carport YN Yes Lot Features 16-20 Units/Acre Number Of Separate Electric Meters 19 Open Parking Spaces 10 Parking Total 27 Pool Features Community Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features CurbsGutter(S)Street LightsPool Electric Expense 3718 Fuel Expense 6503 Garage YN Yes Gross Income 235200 Gross Scheduled Income 235200 Insurance Expense 6256 Land Lease YN No Laundry Features Common AreaInside Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanPrivate Financing Available Maintenance Expense 14250 Net Operating Income 107441 New Construction YN No New Taxes Expense 60878 Number Of Separate Gas Meters 19 Number Of Separate Water Meters 3 Number Of Units Leased 19 Operating Expense 120703 Other Expense 2850 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 19250 Trash Expense 8109 Vacancy Allowance 7056 Water Sewer Expense 6139 Water Source Public Zoning Bpr3*



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-26T19:33:55.463. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): Kristopher German of Re/Max 2000 Realty (626-956-0188)