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SRI Properties LLC Acquires 11-Unit Multifamily Property In Covina From Forgette Family Trust For $2.8M
SOLD
$2,800,000
California
See Similar DealsMultiFamily
Sold 05/28/2025
SOLD
SRI Properties LLC Acquires 11-Unit Multifamily Property In Covina From Forgette Family Trust For $2.8M
19529 East Cypress Street
See Similar DealsMultiFamily
Sold 05/28/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The property asset involved in the transaction is an 11-unit multifamily property located at 19529 East Cypress Street in Covina. The sale price for the property was $2,800,000, resulting in a price per unit of $254,545. The asset was known as Cypress Villa and was part of the multifamily market segment.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,800,000
- Buyer: SRI Properties LLC
- Seller: Forgette Family Trust
- Units: 11
- Price Per Unit: $254,545
Douglas McCauley and David Covarrubias from Marcus & Millichap represented both the buyer and the seller in this transaction. Their role facilitated the successful closing of the deal between the Forgette Family Trust and SRI Properties LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$149,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,947.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,273.43
Annual Debt Service$159,281.14
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