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3108 Vineland, Baldwin Park, CA 91706
Priced at Only: $10,800,000
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Address: 3108 Vineland, Baldwin Park, CA 91706
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  • MLS#: CV26029947 ( Apartment )
  • Street Address: 3108 Vineland
  • Viewed: 3
  • Price: $10,800,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1978
  • Bldg sqft: 0
  • Days On Market: 25
  • Additional Information
  • County: LOS ANGELES
  • City: Baldwin Park
  • Zipcode: 91706
  • Provided by: CB RICHARD ELLIS
  • Contact: Eric Eric
  • California Regional MLS IDX
  • DMCA Notice
  • 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 located within Southern California, offering exceptional hub access to the 10 and 605 freeways. Its prime location is within walking distance to major retail centers featuring Walmart, Home Depot, Target, Food 4 Less, Starbucks, and LA Fitness. Significant employment and entertainment hubs within a 20 mile radius include Downtown Los Angeles, the City of Commerce, the City of Industry, Pasadena, and Dodger Stadium. Villa Monterey represents a premier income producing asset in a high rental demand location, presenting a stable and lucrative opportunity for 1031 exchange buyers and seasoned investors seeking a large scale footprint with significant 30% financial upside.
Features
Building Area Total
  1. 35954.00
Carport Spaces
  1. 45.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Cooling
  1. Wall/Window Unit(s)
Country
  1. US
Days On Market
  1. 20
Electric Expense
  1. 10218.00
Fuel Expense
  1. 16327.00
Garage Spaces
  1. 0.00
Gardner Expense
  1. 5970.00
Heating
  1. Wall Furnace
Insurance Expense
  1. 30750.00
Laundry Features
  1. Common Area
Laundry Income
  1. 16208.00
Levels
  1. Two
Lot Features
  1. Lot Over 40000 Sqft
Netoperatingincome
  1. 523052.00
Newtaxesexpense
  1. 144758.00
Number Of Separate Electric Meters
  1. 41
Number Of Separate Gas Meters
  1. 41
Otherexpense
  1. 8200.00
Otherexpensedescription
  1. Reserves
Otherincome1
  1. 3255.00
Otherincome2
  1. 25410.00
Parcel Number
  1. 8555019116
Pest Control Expense
  1. 1235.00
Pool Expense
  1. 6888.00
Pool Features
  1. Community
  2. In Ground
Professionalmanagementexpense
  1. 44477.00
Property Type
  1. Apartment
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 456326096:CRM
Spa Features
  1. None
Suppliesexpense
  1. 9075.00
Totalactualrent
  1. 856716.00
Totalexpenses
  1. 351489.00
Trash Expense
  1. 24633.00
Vacancyallowance
  1. 27048
Water Sewer Expense
  1. 23986.00
Water Source
  1. Public
Year Built
  1. 1978
Year Built Source
  1. Assessor
Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Fax: 714.975.9953
  5. Mobile: 714.478.6676
  6. salesbyxavier@gmail.com
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