CBRE Brokers Record-Setting Sale of 26-Unit Multifamily Community in Baldwin Park, Calif

CBRE announced the $8.75 million sale of the Kimberly Apartments, located in the central San Gabriel Valley region of Los Angeles, to a private capital investor. At $336,538 per unit and $400 per sq. ft, the sale marks new record pricing for Baldwin Park and the surrounding area.

Eric Chen with CBRE’s Ontario office represented the seller, a private investor operating under a limited liability company.

Located at 14521 Clark Street in Baldwin Park, the Kimberly Apartments have 26 units with a mix of one- and two-bedroom floorplans averaging 746 sq. ft. 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.

“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.

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 billion in the first quarter of 2022—the strongest first quarter on record.