Updated Sep 9, 2024
Ray Rodriguez & Scotty Weisstein Acquire Multifamily Property In West Covina For $15.75M
801 Wescove Pl, West Covina, CA, USA
$15,750,000
$279/SF
Building Size
56,432 SF
Asset Type
MultiFamily
Closing
May 12, 2021
About this deal
AI
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.
On the Map
$15,750,000
$279/SF
MultiFamily
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Players
West Covina MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.01%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93