Updated Oct 29, 2024
Gemdale USA Sells Multifamily Asset In West Covina For $31.9M
2900 E Virginia Ave, West Covina, CA, USA
$31,900,000
$15,854/SF
Building Size
2,012 SF
Asset Type
MultiFamily
Closing
Apr 5, 2020
About this deal
AI
A multifamily property located at 2900 E Virginia Ave in West Covina has been sold for $31,900,000. The property consists of 85 units, with a price per unit (PPU) of $375,885. The transaction took place on April 6, 2020.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $31,900,000
- Address: 2900 E Virginia Ave
- Market: West Covina
- Units: 85
- Price Per Unit (PPU): $375,885
The seller of the property was Gemdale USA. The brokers involved in the deal were Kevin Green, Greg Harris, and Joseph Grabiec from Institutional Property Advisors (IPA), along with Tyler Leeson from Marcus & Millichap.
On the Map
$31,900,000
$15,854/SF
MultiFamily
View full map
Players
West Covina MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Kevin Green to view all their deals.
Browse California multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93