Updated May 29, 2025
SRI Properties LLC Acquires 11-Unit Multifamily Property In Covina From Forgette Family Trust For $2.8M
19529 East Cypress Street
$2,800,000
Units
11
Asset Type
MultiFamily
Closing
May 28, 2025
About this deal
AI
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.
Players
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
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93