309-311 S Baldwin Avenue

Address: 309-311 S Baldwin Ave, Arcadia, CA 91007, USA

California & West + Apartments

Created date: November 6, 2023

Date last updated: November 6, 2023

Exceptional Arcadia Location
Across from Westfield Santa Anita Shopping Center (Over ±1.3M SF of Retail)
Minutes from Shops, Eateries, and Entertainment on Huntington Drive, Baldwin Avenue, and Duarte Avenue
Adjacent to Pasadena, San Marino, and Monrovia
Easy Access to 210 Freeway
Excellent Unit Mix of 4 (1B+1B’s) and 4 (2B+1B’s) Units
±7,432 SF Building Size on ±21,996 SF Oversized Lot
Current Rent ±37% Under Market; Area Subject to AB 1482
Several Units have been Fully Renovated
Well-Amenities with Single Story Units, One Site Laundry Facility, Three Storage Rooms, Private Patios, Dual Entrances, Original Hardwood Flooring, and Fireplaces in Select Units
Impressive Market Fundamentals of 2023 Average Housing Value of $1,415,579 and 2023 Average Household Income of $155,064
All Schools National Blue Ribbon or CA Distinguished

Property Description

Comprised of two buildings built-in 1956 on an oversized ±21,996 square foot R3-R lot, 309-311 South Baldwin Avenue is a single-story, eight-unit multifamily property with a total living area of ±7,432 square feet. Spotted by a signature wishing well, and easily recognizable by residents and fellow investors in the area as a Karyn Jackson building, the meticulously maintained property is separately metered for gas and electric, and offers an on-site laundry facility and three large storage rooms. Parking is in the rear of the property with eight garages with storage bins and a minimum of six open spaces. 309-311 South Baldwin Avenue boasts an excellent unit mix with four one-bedroom/one-bathroom units and four two-bedroom/one-bathroom units. The units are charming and spacious, with central air & heat, ample closet space, and private patios. Several units have been fully renovated, three units have fireplaces (309A, 309D & 311A), and all units have hardwood floors.

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Key Property Information

Listing Status:	Available
Multifamily type:	Apartments
Price:	$4,100,000
No. of Units:	8
Cap Rate:	2.50%
GRM /GIM:	22.58
Average Occupancy:	875
Year Built:	1956
Building Size:	7,432 Sq ft
Lot Size:	21,996.00 Sq ft
No. of Stories:	1
APN:	5777-026-018
Zoning Code:	R3-R High-Density Residential \| Zoning to be Verified by Buyer
Opportunity Zone:	No
Price per unit:	$512,500
Property Website	Click Here