Gemdale USA Sells Multifamily Asset In West Covina For $31.9M
SOLD
$31,900,000
California
See Similar DealsMultiFamily2,012 SF
Sold 04/06/2020
SOLD
Gemdale USA Sells Multifamily Asset In West Covina For $31.9M
2900 E Virginia Ave, West Covina, CA, USA
See Similar DealsMultiFamily2,012 SF
Sold 04/06/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$15,854
Total Square Footage:2,012 SF
Transaction Type:Sale
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.
Players
SELLER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,701,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$113,333.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$151,222.27
Annual Debt Service$1,814,667.30
Is there something missing? Send suggestions