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5/24/22
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Kimberly Apartments, a 26-unit multifamily property located in the central San Gabriel Valley city of Baldwin Park, traded for $8.75 mil, or $336.5k/unit. The buyer was a private investor based out of Los Angeles.
Located at 14521 Clark St, Kimberly Apartments offers a mix of one- and two-bedroom floorplans averaging 746 sf in size. Property amenities include a community pool, BBQ area, covered parking, on-site laundry, and controlled-access security. The property is located within minutes of the I-210 and I-10 freeways and is a short drive to downtown Los Angeles and Pasadena.
Eric Chen with CBRE represented the seller, a private investor operating under a limited liability company.
Nationally, multifamily property investment volume saw a record-breaking start to the year, according to CBRE research. Investment in the multifamily sector increased 56% year-over-year to $63 bil in the first quarter of 2022—the strongest first quarter on record.
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