Baldwin Park, CA 91706,4926 Maine AVE
Baldwin Park, CA 91706,4926 Maine AVE
Baldwin Park, CA 91706,4926 Maine AVE
$4,748,000
Est. payment /mo
$4,950,000
4.1%
Est.Price: ?

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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

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California Regional MLS (CRMLS)
Listed by KRISTOPHER GERMAN • RE/MAX 2000 REALTY
Bought with KRISTOPHER GERMAN • RE/MAX 2000 REALTY

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Monique H. Ott-Beacham

+1(619) 757-3109

Broker | License ID: DRE #01448692

Broker License ID: DRE #01448692

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