Sunset Square, a 140-unit multifamily property located at 745 North Sunset Avenue in West Covina, has been sold for $40 million. The property showcases the ongoing demand for high-quality assets in the Greater Los Angeles market and highlights the appeal of suburban Los Angeles for investors seeking stable returns in the multifamily sector.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $40,000,000
• Units: 140
• Price per Unit: $285,714
• Address: 745 North Sunset Avenue, West Covina
• Market: West Covina

The buyers, Sunset Square LP and Sunset Square GGF LLC, have acquired the property from LLJ Ventures. Represented by Shane Shafer from NorthMarq, this transaction exemplifies the ongoing demand for high-quality multifamily assets in the Greater Los Angeles market. The involvement of reputable broker Shane Shafer underscores the importance of securing professional representation in complex real estate deals.