Villa Monterey Apartments: 41
For Sale
$10,800,000
3108 Vineland Avenue, Baldwin Park, CA 91706
Well-maintained 41-unit apartment complex in Baldwin Park.
Property Size35,954 SF
Lot Size1.64 Acres
Price / SF$300.38
Days on Market153
Property Features for 3108 Vineland Avenue
General Information
Standard status
Active
Size
35,954 SF
Lot size
1.64 Acres
Property subtype
Multifamily
Listing Agency:
CBRE - Ontario
(909) 418-2071
Listed By:
Eric Chen · License #01489184
(909) 418-2071
Source:
Cbre
Added: Mar 25
Changed: Aug 10
Last Checked: Aug 23 at 3:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Ontario
Investment Insights
Based on property information with market context.
Villa Monterey is a 41-unit apartment complex located in Baldwin Park, California, one block from the 10 Freeway. The property, situated on a ±71,546 SF lot, features a total building size of ±35,954 SF. The unit mix includes 20 one-bedroom/one-bathroom units, 10 two-bedroom/one-bathroom units, and 11 two-bedroom/two-bathroom units, with an average unit size of ±879 SF. Units feature high-speed internet access, air conditioning and heating, ceiling fans, and full kitchen appliances, including dishwashers. Community amenities include a swimming pool, ample covered parking, secured access, storage space, and two on-site laundry facilities. The property is located near major retail centers with retailers including Walmart, Home Depot, Target, Food 4 Less, Starbucks, McDonalds, and LA Fitness. The location provides access to the 10 and 605 Freeways and is less than 20 miles from Downtown Los Angeles, the City of Commerce, and the City of Industry. The property presents an opportunity to improve building operations and capture market rents to increase net operating income. The property has assumable debt at a 2.95% interest-only rate until June 2030.
Key Highlights
- Assumable debt at a low 2.95% interest‑only rate until June 2030, offering attractive cash‑on‑cash returns.
- Significant financial upside with a clear path to a 6.90% Cap Rate at market rents, representing a 30% increase.
- Well‑maintained 41‑unit asset in a high‑demand rental location in Baldwin Park.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$578,529
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$11,570,580
$11.6M
Cap Rate 7%
$8,264,700
$8.3M
Cap Rate 9%
$6,428,100
$6.4M
Market Conditions
NOI Build-Up for 35,954 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.14M $31.80/SF
− Vacancy
−$91.5K −$2.54/SF
EGI
$1.05M $29.26/SF
− OpEx
−$473.3K −$13.17/SF
NOI
$578.5K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$11,570,580
Cap Rate 7%
$8,264,700
Cap Rate 9%
$6,428,100
Alternative Uses
Best Use
Apartment 5plus
$8.26M
$7.23M – $9.64M
NOI $578,529 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$19.25M
$16.84M – $22.46M
NOI $1,347,474 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
Explore this area
Business Placement
Demographics for 91706, CA
73,313
Population
18,853
Households
3.9
Avg Household Size
36
Median Age
14%
College-Educated
68%
High-School Grad
13.5 sq mi
ZIP Area
5,431
Density / Sq Mi
$79,473
Median Household Income
$34,964
Median Earnings
$1,816
Median Rent
$589,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 41-unit apartment complex in Baldwin Park.
Where is this apartment building located?
The property is located at 3108 Vineland Avenue Baldwin Park, CA.
What is the asking price?
The asking price for this property is $10,800,000.
What are key features of this property?
This property features: Assumable debt at a low 2.95% interest‑only rate until June 2030, offering attractive cash‑on‑cash returns.; Significant financial upside with a clear path to a 6.90% Cap Rate at market rents, representing a 30% increase.; Well‑maintained 41‑unit asset in a high‑demand rental location in Baldwin Park.
