14521 Clark St Baldwin Park, CA 91706

Property Details for 14521 Clark St

Year built

1964

Property size

19,384 SF

Property type

Apartment buildings

Description

This exceptional 26-unit apartment building in Baldwin Park, CA presents a compelling value-add investment opportunity. Located at 14521 Clark Street, this property boasts 19,384 square feet of net rentable space situated on a substantial 36,139 square foot lot. The property comprises five, two-story buildings constructed in 1964, offering a mix of 12 one-bedroom/one-bathroom and 14 two-bedroom/one-bathroom units, averaging 745 square feet each. Currently generating over $630,000 in annual scheduled income, including income from on-site parking, laundry facilities, and a pet policy, the property features a strong in-place NOI of $412,356 and a pro-forma NOI of $502,016, resulting in a current cap rate of 5.16% and a pro-forma cap rate of 6.28%. The asking price is $7,995,000, representing a price per unit of $307,500 and a price per square foot of $412.45. Residents enjoy desirable amenities such as secured access, covered parking, on-site laundry, a pool, and ample community space. The property benefits from its convenient location near freeways, major retailers, and attractions, making it highly attractive to renters. Significant recent improvements have been made to both the interior and exterior, including a pool update and carport retrofit. The seller is offering favorable interest-only financing. This well-maintained property presents a rare opportunity for significant returns in a prime rental market. The property's location in the desirable northern area of Baldwin Park, surrounded by single-family homes, further enhances its investment potential.