Updated Oct 28, 2024
Langdon Park Capital Acquires Multifamily Complex In West Covina For $48.6M
1829 East Workman Avenue, West Covina, California 91791, United States
$48,600,000
Units
138
Asset Type
MultiFamily
Closing
Aug 11, 2022
About this deal
AI
A multifamily property located at 1829-1841 E. Workman Ave. in West Covina has been sold for a total price of $48,600,000. The property consists of 138 units, with a price per unit of $352,174. The sale was completed on August 12, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $48,600,000
- Units: 138
- Price per Unit: $352,174
The buyer in this transaction was Langdon Park Capital, while the seller was Abacus Capital Group. The deal was facilitated by Dean Zander and Stewart Weston from CBRE.
On the Map
$48,600,000
MultiFamily
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Players
West Covina MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93