HFH Ltd Acquires MultiFamily In West Covina For $38.2M

The property involved in this transaction is South Hills Apartments, situated at 2900 E Virginia Ave, West Covina, CA. The multifamily community was sold for $38,200,000.00, translating to $450,000 per residential unit. South Hills Apartments comprises 85 units and includes features such as vaulted ceilings, in-unit washers and dryers, and either a patio or balcony. Originally built in 1966, the property underwent remodeling in 2019. Additionally, the community amenities include a swimming pool, spa, fitness center, and an outdoor kitchen equipped with barbecue grills.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $38,200,000.00
• Address: 2900 E Virginia Ave, West Covina, CA
• Seller: NexGen Properties Group
• Buyer: HFH Ltd
• Seller's Representatives: Matthew Kipp - Marcus & Millichap, Nick Kazemi - Marcus & Millichap

Key individuals involved in the transaction include Kevin Green, Joseph Grabiec, and Greg Harris of Institutional Property Advisors (IPA), who facilitated the sale. They were supported by Marcus & Millichap’s Tyler Leeson, Mathew Kupp, and Nick Kazemi in representing the seller and securing the buyer for this deal.