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29669416
29669438

3108 Vineland, Baldwin Park, CA 91706

EC
CA 01489184
CBRE - Ontario
Listed by CBRE - Ontario
$10,800,000
117 days on market
Updated 73 days ago

3108 Vineland

Details
APN 8555019116
Property Type Multifamily
Sub Type Apartment Building
Square Footage 35,954
Net Rentable (SqFt) 35,954
Units 41
Cap Rate 4.84%
NOI $523,052
Pro-Forma Cap Rate 6.90%
Pro-Forma NOI $744,835
Price per SqFt $300
Year Built 1978
Buildings 3
Stories 2
Acreage 1.643
Zoning Assessor
Investment Type Value Add

Just Listed: Villa Monterey Apartments | 41 Units in Baldwin Park | 2.95% Interest Only Loan

Marketing description

We are proud to present Villa Monterey, a Well-Maintained 41-Unit Asset Located at 3108 Vineland Avenue in the city of Baldwin Park. Situated one block from the 10 Freeway, this pride-of-ownership property benefits from a high-demand rental pocket, proximity to major retail hubs, and consistent occupancy levels. Baldwin Parks central location and the propertys historical stability make this an ideal investment choice for steady rental income and long-term appreciation in the heart of the San Gabriel Valley. Villa Monterey is a 41-unit community featuring a total building size of 35,954 SF situated on an expansive 71,546 SF lot (1.64 Acres). The property features an excellent unit mix consisting of (20) 1-bedroom/1-bathroom, (10) 2-bedroom/1-bathroom, and (11) 2-bedroom/2-bathroom floor plans with an impressive average unit size of 879 SF. Meticulously cared for, the asset features an open garden-style layout with amenities that include a swimming pool, ample covered parking, secured access, storage space, and two on-site laundry facilities. Units are well-appointed with high-speed internet access, AC & heating, ceiling fans, and full kitchen appliances including dishwashers. This opportunity features an assumable loan at a 2.95% interest-only rate until June 2030. This rare financing allows a new investor to realize a 6.84% Cash-on-Cash return on current income, with the potential to reach a 11.05% return on pro forma income. The property currently operates at a 4.84% Cap Rate, with a clear path to a 6.90% Cap Rate at market rents. The City of Baldwin Park is ideally locate

Investment highlights

  • Well-Maintained 41-Unit Asset | One Block from the 10 Freeway in the Bustling City of Baldwin Park

  • Assumable Loan | 2.95% Interest Only Payments until June 2030

  • Attractive 6.84% Cash on Cash Return with Current Income | 11.05% Return with Pro Forma Income with Loan Assumption

  • Currently 4.84% Cap Rate on Current Income | 6.90% Cap Rate at Market Rents

  • Pride of Ownership Asset Situated on an Oversized ±71,546 SF Lot

  • Diverse Unit Mix | Featuring (20) 1B/1B, (10) 2B/1B, and (11) 2B/2B Floor Plans with an Average Unit Size of ±879 SF

  • 30% Operational & Rental Upside Opportunity | New Investor has the Opportunity to Significantly Improve Building Operations and Capture Market Rents to Substantially Increase NOI

  • Modern Unit Features | High-Speed Internet Access, AC & Heating, Ceiling Fans, Cable Ready, Kitchen Appliances, and Dishwashers

  • Excellent Community Amenities | Open Garden-Style Layout Featuring a Pool, Covered Parking, Secured Gated Access, Storage Space, and 2 On-Site Laundry Facilities

  • High Walkability Location in East San Gabriel Valley | Located 1 Block from Large Retail Centers with Retailers Including Walmart, Home Depot, Target, Food 4 Less, Starbucks, McDonalds, and LA Fitness

  • Prime Commutable Location | Just off the 10 and 605 Freeways and Less Than 20 Miles from DTLA, City of Commerce, and City of Industry

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Listing Contacts

EC
CA 01489184
CBRE - Ontario
Listed by CBRE - Ontario

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$523,052.00
$43,587.67/mo

Valuation Metrics

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DSCR
4.84%
Cap Rate
4.84%
ROI

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