**PRICE IMPROVED** The Bahamas | 826 N Barranca Ave
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**PRICE IMPROVED** The Bahamas 826 N Barranca Ave
24 Unit Apartment Building $6,880,000 ($286,667/Unit) 5.98% Cap Rate Covina, CA 91723
Investment Highlights
- Ideal for Exchange; Value-add Asset
- Easy to Access I-10, I-210 and I-605 Freeway Connecting to Los Angeles, San Bernardino, Orange and Riverside Counties
- Minutes to Azusa Pacific College, Citrus College, Plaza West Covina Mall, Cal Poly Pomona, the Metrolink Covina Train Station and More
- Motivated Seller Looking for Exchange with Other Properties Sold & Escrowed
- Desirable Unit Mix with Studio, One-bedroom, Two-Bedroom and Four-Bedroom Units
- Only Subject to AB-1482
Executive Summary
MacroReal Commercial, Inc. are pleased to present the rare opportunity to acquire a garden style 24-unit multi-family investment in Covina, California, located at 826 North Barranca Avenue. This multi-family asset is in a market with solid demographics and unique accessibility to major employment hubs, easy to access freeway I-10 and I-210, close to downtown Covina. The property is within minutes to essential city frequented locations—Costco, Walmart Supercenter, Home Depot, Plaza West Covina, Ikea, Azusa Pacific University, Citrus College, Cal Poly Pomona, and Kaiser Permanente Baldwin Park Medical Center. The spacious unit mix consists of studio, one-bedroom, Two-bedroom and Four-bedroom units with large floor plan, patio, Central AC. This property offers value-add opportunity for investors to invest in a prime asset with well-maintained condition. Two Units are nonconforming units (1 Studio and 1 one becroom unit). Investor has opportunity to legalize those units and potentially add more ADU. Buyer to verify. Ideal for exchange with potential upside on rent. The property will be delivered free and clear.
Property Facts
| Price | $6,880,000 | Apartment Style | Low Rise |
| Price Per Unit | $286,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.04 AC |
| Cap Rate | 5.98% | Building Size | 22,820 SF |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.58/1,000 SF |
| Price | $6,880,000 |
| Price Per Unit | $286,667 |
| Sale Type | Investment |
| Cap Rate | 5.98% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.04 AC |
| Building Size | 22,820 SF |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.58/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Patio
Site Amenities
- Laundry Facilities
- Gated
- Recycling
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 549 |
| 1+1 | 9 | - | 746 |
| 2+1 | 1 | - | 950 |
| 2+2 | 12 | - | 1,100 |
| 4+2.5 | 1 | - | 1,380 |
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PROPERTY TAXES
| Parcel Number | 8429-031-016 | Improvements Assessment | $1,479,176 |
| Land Assessment | $4,016,536 | Total Assessment | $5,495,712 |
PROPERTY TAXES
Parcel Number
8429-031-016
Land Assessment
$4,016,536
Improvements Assessment
$1,479,176
Total Assessment
$5,495,712
zoning
| Zoning Code | R3-RD2000, Covina |
| R3-RD2000, Covina |
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**PRICE IMPROVED** The Bahamas | 826 N Barranca Ave
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