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Malcolm Johnson Of Langdon Park Capital Acquires Pacific Trails Apartments From RPK Development For $21M

Property Image
SOLD
$21,000,000
Mike Marcu
Otto Ozen
MJ

California

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MultiFamily
Sold 08/07/2025
the dealplayerscompscontact
Property Image
SOLD

Malcolm Johnson Of Langdon Park Capital Acquires Pacific Trails Apartments From RPK Development For $21M

18615 East Arrow Highway

See Similar Deals
MultiFamily
Sold 08/07/2025
Mike Marcu
Otto Ozen
MJ
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The 84-unit Pacific Trails apartment complex is located at 18615 East Arrow Highway in Covina. The property was sold for $21,000,000, resulting in a price per unit of $250,000. The transaction demonstrates the ongoing demand for multifamily housing in the area.

Summary of transaction details:

Langdon Park Capital, a firm that began operations in 2021, has now completed its fifth deal with this transaction. The purchase aims to maintain affordable housing in a region that is experiencing increased rent pressures and demand for residential units.

Players

Otto Ozen
The Mogharebi Group
Otto Ozen
24 deals$670.7M volume
BROKER
Mike Marcu
The Mogharebi Group
Mike Marcu
2 deals$65.4M volume
BROKER
Mike Marcu
Mike Marcu
2 deals$65.4M volume
BROKER
The Mogharebi Group
The Mogharebi Group
BROKERAGE
MJ
Malcolm Johnson
3 deals$121.1M volume
BUYER
LC
Langdon Park Capital
BUYER

Details

SOLD
IMAGE: Malcolm Johnson, Mike Marcu & Otto Ozen DATE: 08/07/2025 ADDRESS: 18615 East Arrow Highway MARKET: Covina ASSET TYPE: Multifamily BUYER: Malcolm Johnson - Langdon Park Capital (@LangdonParkCapital) SELLER: RPK Development BROKERS: Otto Ozen & Mike Marcu - The Mogharebi Group SALE PRICE: $21,000,000 UNITS: 84 ~ PPU: $250,000 NOTE: Langdon Park Capital acquired the 84-unit Pacific Trails apartment complex in Covina for $21M, marking its fifth deal since launching in 2021.The firm purchased the San Gabriel Valley property from RPK Development, aiming to preserve affordability in a region facing rising rent burdens and housing demand.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,120,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56