Gemdale USA Sells Multifamily Asset In West Covina For $31.9M

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.