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
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