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238 South 4th Avenue

Bill Weaver Sells Multifamily Property In Covina For $1.54M With Brokers Eric Chen & Justino L. Fa’aola
SOLDMultiFamily

Bill Weaver Sells Multifamily Property In Covina For $1.54M With Brokers Eric Chen & Justino L. Fa’aola

238 South 4th Avenue

$1,540,000

$307/SF

Building Size

5,010 SF

Asset Type

MultiFamily

Closing

Dec 10, 2024

AI

The property asset involved in the transaction is a multifamily building located at 238 South 4th Avenue in Covina. It was sold for $1,540,000 and comprises 7 units. The total square footage of the asset is 5,010, resulting in a price per unit of $220,000 and a price per square foot of $307.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,540,000
  • Units: 7
  • Square Footage: 5,010
  • Price Per Unit: $220,000
  • Price Per Square Foot: $307
  • Seller: Bill Weaver
  • Brokers: Eric Chen & Justino L. Fa’aola - CBRE

The transaction was facilitated by brokers Eric Chen and Justino L. Fa’aola from CBRE, who represented the interests of the parties in the deal.

Players

Eric Chen

CBRE

Broker

$886.6M

vol

108 deals

Broker

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

10.30%

Cash-on-Cash

-2.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93