149 S Bandy Ave - Apartments FOR SALE


West Covina, CA 91790
$2,915,000 USD
626-447-5100
149 S Bandy Ave, West Covina, CA for Sale
$2,915,000 USD
Apartments - FOR SALE
1/20
null | 5% Cap Rate

149 S Bandy Ave
West Covina, CA 91790


HIGHLIGHTS

  • Excellent Unit Mix of One, Two, and Three Bedroom Units.
  • Selected Units Renovated with New Flooring, Kitchen Cabinets, and Granite Countertops.
  • Amenities Include Onsite Laundry Room, Wall A/C, and Carport Parking.
  • Below-market rents provide upside potential, with no local rent control allowing for increases under California AB1482.
  • Prime location within walking distance to restaurants and entertainments including Plaza West Covina and Edwards Theater (Walk Score 82).

OVERVIEW

Presenting a prime 11-unit multifamily asset located at 149 South Bandy Avenue in the heart of West Covina, California. This garden-style community, originally constructed in 1961, sits on a spacious 10,710-square-foot lot with approximately 8,026 rentable square feet. The property features a highly desirable unit mix consisting of six one-bedroom/one-bathroom units, four two-bedroom/one-bathroom units, and a unique three-bedroom/two-bathroom cottage. To the benefit of ownership, all units are individually metered for gas and electricity. The asset has been meticulously maintained with several units modernized with contemporary flooring, new kitchen cabinetry, and granite countertops. Residents enjoy essential amenities such as an on-site laundry facility, wall air-conditioning, and 11 dedicated parking spaces supplemented by ample street parking. Additionally, the property includes a private storage room specifically for the owner's use, providing a convenient space for maintenance supplies or equipment. Situated within walking distance of Plaza West Covina and Edwards Theater, the property is perfectly positioned to benefit from the area’s premier retail and entertainment offerings. The location offers exceptional regional access, situated just 0.6 miles from the Interstate 10 Vincent Avenue exit and 3.4 miles from the Covina Metrolink Station. The property also serves a diverse tenant base due to its proximity to West Covina High School, Mt. San Antonio College, and Cal Poly Pomona. This investment offering represents a rare opportunity to acquire a stabilized asset in one of the San Gabriel Valley’s strongest rental markets, providing a sophisticated investor with both immediate cash flow and significant long-term appreciation potential. Please email jolinrealestate@gmail.com for offering memorandum.

FOR SALE DETAILS

PRICE

$2,915,000 USD

PRICE/SF

$363 USD /SF

# OF UNITS

11

PRICE/UNIT

$265,000

CAP RATE

5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,711 SF

ZONING

WCR3-MF20*

APN/PARCEL ID

8476-010-012

ASK ABOUT THIS PROPERTY

Jo LinPhoebe LiuMore Info
626-447-5100

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Jo LinPhoebe LiuMore Info
626-447-5100

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.