$3,850,000
$3,695,000
4.2%For more information regarding the value of a property, please contact us for a free consultation.
14864 Pacific AVE Baldwin Park, CA 91706
0.57 Acres Lot
Key Details
Sold Price $3,850,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV24005495
Sold Date 03/09/24
HOA Y/N No
Year Built 1984
Lot Size 0.566 Acres
Property Description
1980's Built Townhouses Offered at 5% CAP Rate!!! We are pleased to exclusively offer for sale this investment opportunity in the vibrant Baldwin Park area which features 13 expansive, two-story townhouses, built in 1984. This pride of ownership asset encompasses a total rental space of 15,746 sq ft on a generous 24,653 sqft lot. With a favorable 5% CAP Rate (current) and a 13.58 GRM, this stands as a prime investment.
The property's unit mix includes one detached 3 Bed/3 Bath two-story townhouse, ten 3 Bed/2 Bath townhouses, and two 2 Bed/2 Bath townhouses. Each townhouse boasts private 2-car attached garages with direct entry to the ground floor, central air conditioning and heating, private patios and balconies, and convenient interior washer/dryer hookups. Additionally, each unit features a ground floor bedroom, catering to diverse living needs.
Significant recent improvements add to the property's value, with two units completely remodeled and a durable TPO coating applied to the roof. All air conditioning units have been replaced within the last ten years, underscoring the seller's commitment to maintaining high standards.
Financially, the property is poised for success from the outset, with tenants covering all utility costs, thanks to separate meters for water, electricity, and gas. Located in a prime SGV location, it offers a substantial 37% potential upside in rental income, making it an attractive option for investors seeking a property with strong growth prospects.
Location
State CA
County Los Angeles
Area 608 - Baldwin Pk/Irwindale
Zoning BPR3*
Interior
Heating Central
Fireplace No
Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Inside
Exterior
Garage Spaces 26.0
Garage Description 26.0
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 28
Private Pool No
Building
Lot Description 11-15 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 8438022076
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
Lease Land No
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Bought with Kristopher German • RE/MAX 2000 REALTY