West Covina Gardens
28 Unit Apartment Building | $7,950,000 ($283,929/Unit) | 4.27% Cap Rate | West Covina, CA 91791
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $7,950,000
- Property Type
-
Multifamily
- Square Feet
- 22,428 SF
Listing Contacts
Al Jafarkani
Verified Profile
- Property Info
Property Overview
This well-maintained two-story apartment building presents an excellent investment opportunity in a highly sought-after market. Comprising 28 units, including twenty-three 2-bed, 1-bath units, three 1-bed, 1-bath units, and one studio. Key features include a separate community laundry room and a gated in-ground pool centrally located in the courtyard, providing a serene escape for residents. The property is secured with a gated entrance, ensuring peace of mind for tenants. Additionally, there are 28 garages with storage, plus 4 extra parking spaces currently being rented, adding to the income potential. The building is efficiently managed with 19 electric meters, 19 gas meters, and 1 water meter. Positioned on a beautiful tree-lined street and the 10 Freeway, this property is an enticing option for investors looking to expand their portfolio in a desirable and thriving area. Potential cap rate could be 4.78%. Buyers and/or their agent to complete their own due diligence in regard to all aspects of the property, including but not limited to income, expenses, and potential rents, etc. ***For Investment Analysis and Offer Cover Sheet click on attachments***
Property Details
- Class
- C
- Year Built
- 1960
- Stories
- 2
- Lot Size (sq. ft)
- 33,541 SF
- Units
- 28
Highlights
- Laudry room
- Community pool
- Garages
Nearby Properties
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