Ray Rodriguez & Scotty Weisstein Acquire Multifamily Property In West Covina For $15.75M

A multifamily property located at 801 Wescove Pl in West Covina has been sold for a price of $15,750,000. The property consists of 56 units, with a price per unit of $281,250. It spans across an area of 56,432 square feet, with a price per square foot of $283. The transaction took place on May 13, 2021, and the property boasts a capitalization rate of 4.28%.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $15,750,000
• Units: 56
• Price Per Unit: $281,250
• Square Footage: 56,432
• Price Per Square Foot: $283
• Capitalization Rate: 4.28%

The deal was facilitated by Ray Rodriguez from @RayRodriguezRE and Scotty Weisstein from @ScottyWeissteinRE. They represented the buyer in this transaction. Their brokerage firms, Lucrum Real Estate and KW Commercial SoCal, were involved in the deal as well.