CBRE has announced the $8.75 million sale of the Kimberly Apartments in LA’s San Gabriel Valley submarket of Baldwin Park, CA. The $336,538 per unit and $400-per-square-foot sale marks record pricing for the area. The property was purchased by a private capital investor and CBRE’s Eric Chen represented the seller, a private investor under an LLC.
Located at 14521 Clark St. in Baldwin Park, the Kimberly Apartments is a 26-unit, one- and two-bedroom complex, with floorplans averaging 746 square feet. The community features a pool, barbecue area and covered parking, and is just minutes off the I-210 and I-10 freeways.
“This is a stabilized, renovated project. The sale signals a strong multifamily market in the San Gabriel Valley. Despite a changing market, we are still showing signs of solid demand from buyers,” said Chen in a news release.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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