10012 Valley, El Monte, CA 91731

Property Description

Baldwin Valley Apartments presents a compelling opportunity to acquire a 41-unit multifamily community at a newly reduced asking price of $6,995,000. Located at 10012 Valley Boulevard in El Monte, the property offers existing income, proven renovation upside and additional revenue opportunities at approximately $170,610 per unit and $292 per rentable square foot. The capitalization rate is 6.34% and the GRM is 9.43 based only on rents and not other income. Built in 1961, the community contains approximately 23,975 rentable square feet on a 0.85-acre site. The unit mix consists of 21 studios, 16 one-bedroom/one-bath units, two two-bedroom/one-bath units and two two-bedroom/two-bath units. Approximately 75%% of the units have been renovated. Average in-place rents of approximately $1,500 per unit providing a path to income growth through natural turnover and continuation of the existing renovation program. Additional income opportunities include increasing carport parking charges and implementing a ratio utility billing system (RUBS), subject to applicable requirements. Recent capital improvements include work to the roof, electrical system and windows. Community amenities include a swimming pool, controlled access, on-site laundry, garden and courtyard areas, and covered parking. Parking consists of 39 carports, one two-car garage and one surface space. Electricity is individually metered, while gas, water, sewer and trash are master metered. Potential for accessory dwelling units (ADUs) provides additional upside, subject to buyer verification and required approvals. Baldwin Valley Apartments offers convenient access to Interstate 10 and State Route 60. The property is approximately one mile from the El Monte Metrolink Station and less than one mile from El Monte Station, connecting residents to employment centers throughout the San Gabriel Valley and greater Los Angeles. The substantial price reduction strengthens the investment opportunity, combining a lower acquisition basis with demonstrated renovation premiums, rental upside and potential operational improvements in an established San Gabriel Valley rental market.