Wescove Apartments

West Covina, CA 91790801 Wescove Pl.

Property Type: Multifamily
Under Contract

Details

  • Price: 16,000,000
  • Cap Rate: 4.28%
  • GRM: 14.08
  • Cost per SF: $283.53
  • Cost per unit: $285,714
  • Year Built: 1963
  • Square Footage: 56,432
  • Lot Size: 147,737
  • Units: 56
  • No. Stories: 1-2
  • Parking: 108
  • Transaction Type: Under Contract
  • Property Type: Multifamily
  • Zoning: WCR3-MF20
  • Building Class: N/A
  • APN/Parcel ID: 8469-020-006

Property Description

Wescove Apartments is a unique 56-unit sprawling apartment community comprised of fourteen fourplexes totaling approximately 56,432 sq. ft. Development was completed in 1963. The asset is situated on a 147,737 sq. ft. lot zoned WCR3-MF20. Building construction is wood frame with pitched roof and painted stucco exterior. Each fourplex is comprised of four two-bedroom and one and a half bathrooms. Sixteen of the units are townhome style units. The layout of the property covers an entire city block.

The unit amenities include a fireplace, central AC, oven, stove, microwave, walk-in closets, and private yard/patio/dog run, creating for more of a home like living experience rather than typical apartment living. Each of the fourplexes has one 75-gallon water heater. The property has 2 laundry rooms, provides 108 covered parking spaces, and can be accessed through two gated entry points from Sandy Hook St. & Wescove Pl.

Aesthetically, the property grounds and building are well maintained and attractive. The landscaping is well kept and manicured. There is a community center with a vending machine, restrooms, and swimming pool for all the residents to enjoy.

The structure has beautiful frontage providing for attractive curb appeal. This is truly a pride of ownership asset.

801 Wescove Place is located in a very suburban rental market within West Covina and is surrounded by single-family homes on a quiet tree-lined street.  The property itself feels like a residential neighborhood and is in 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.

 

Property Highlights

  • Excellent unit mix comprised of all 2+2 home-style & townhouse style units
  • Fireplaces and central a/c in all units
  • Private patios/yards for each unit
  • Significant rental upside & value add potential
  • Situated on massive +/- 3.5 acres
  • Ranked 81 walk score conveniently located near shops & restaurants
  • Located in quiet residential community on a tree-lined street
  • Short drive to 10 & 605 freeways
  • Pride of ownership asset
  • Secured gated entry
  • Plenty of on-site parking and street parking
  • 2 On-Site Laundry Rooms

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23975 Park Sorrento Suite 110
Calabasas, CA 91302