Details

  • Price:ย $15,750,000
  • Cap Rate: 4.36%
  • GRM: 13.86
  • Cost per SF: $279.10
  • Cost per unit: $281, 250
  • Year Built: 1963
  • Square Footage: 56,432
  • Lot Size: 147,737 SF
  • Units: 56
  • No. Stories: 1-2
  • Parking: 108
  • Transaction Type: Sold
  • Property Type: Multifamily
  • APN/Parcel ID: 8469-020-006

Just Closed: 56 Units | West Covina, CA

๐—๐˜‚๐˜€๐˜ ๐—–๐—น๐—ผ๐˜€๐—ฒ๐—ฑ: ๐—ช๐—ฒ๐˜€๐—ฐ๐—ผ๐˜ƒ๐—ฒ ๐—”๐—ฝ๐—ฎ๐—ฟ๐˜๐—บ๐—ฒ๐—ป๐˜๐˜€ | ๐—ช๐—ฒ๐˜€๐˜ ๐—–๐—ผ๐˜ƒ๐—ถ๐—ป๐—ฎ
๐—œ๐—ป๐˜ƒ๐—ฒ๐˜€๐˜ ๐—œ๐—ป ๐—ฅ๐—ฒ๐˜€๐˜‚๐—น๐˜๐˜€ | ๐—š๐—ฟ๐—ผ๐˜„ ๐—ฌ๐—ผ๐˜‚๐—ฟ ๐—Ÿ๐—ฒ๐—ด๐—ฎ๐—ฐ๐˜†

๐—น๐˜‚๐—ฐ๐—ฟ๐˜‚๐—บ๐—ฟ๐—ฒ.๐—ฐ๐—ผ๐—บ

๐—”๐—ด๐—ฒ๐—ป๐˜๐˜€:ย Raymond A. Rodriguezย |ย Scotty Weisstein

Lucrum Real Estate Group group is thrilled to announce the sale of a large value-added 56 unit sprawling multifamily compound which takes up an entire city block located at 801 Wescove Pl. West Covina, CA 91790.

This impressive asset is located in a suburban rental market within West Covina, CA and is surrounded by single-family homes on a quiet tree-lined residential street. The property itself feels more like living in a residential neighborhood than an apartment complex due to it being comprised of all 2BR+1.5BA apartment homes & townhomes with fireplaces, patios, yards/dog runs, community pool area and large 3.39 acre lot. It is conveniently within walking distance to many stores and restaurants as it boasts a walk score of 81! The property is also just minutes driving from the 10 and 605 freeways allowing for easier commutes.

The Seller was motivated to divest from multifamily and 1031 Exchange. into NNN retail and the Buyer, a Legacy Partner having completed multiple sales and acquisitions with our team was motivated to acquire this asset as part of his 1031 Exchange.

Thank you to our clients for their trust and all who assisted with this monumental sale!

If you need a little help navigating through this dynamic market, Lucrum offers many services that can help you maximize your investment property’s cash flow, value & equity.

We can also help you source a qualified Buyer at maximum value for your property on your terms and timeline. We guarantee a professional stress-free experience.

Contact us today!

By: Lucrum
August 5, 2021

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