Private Investor Acquires Fernwood Terrace Apartments In West Covina For $9.5M

The Fernwood Terrace Apartments, located at 712 South Fernwood Street in West Covina, comprise a 30-unit multifamily housing asset. The property was sold for $9,500,000, achieving a price per unit of $316,667. The apartments include mostly renovated units, contributing to the asset's appeal within the local market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,500,000
• Units: 30
• Price Per Unit: $316,667
• Address: 712 South Fernwood Street
• Market: West Covina

Drew Holden and Tyler Leeson from Marcus & Millichap represented the transaction. The seller was Fernwood Terrace Apartments LLC, and the buyer was a private investor. The deal involved extensive brokerage services, showcasing the expertise of the involved representatives.