826 N Barranca Ave - Apartments FOR SALE


Covina, CA 91723- Covina-Valley
$7,280,000 USD
626-407-7701
826 N Barranca Ave, Covina, CA for Sale
$7,280,000 USD
Apartments - FOR SALE
1/12
null | 5.76% Cap Rate

826 N Barranca Ave
Covina, CA 91723
Covina-Valley


HIGHLIGHTS

  • Average Unit Size of 951 SF
  • Desirable Unit Mix with Studio, One-bedroom, Two-Bedroom and Four-Bedroom Units
  • Strong In-Place Cash Flow with Value-Add Potential
  • Excellent Freeway Accessibility
  • Strong Covina Rental Market Fundamentals
  • Ideal 1031 Exchange Opportunity

OVERVIEW

The Bahamas Apartment is a 24-unit garden-style apartment community located at 826 N Barranca Avenue in Covina, California. Built in 1961, the property offers an attractive and diverse unit mix including studio, one-bedroom, two-bedroom, and four-bedroom floor plans with an average unit size of approximately 951 square feet. The property presents investors with a strong value-add opportunity in a desirable San Gabriel Valley rental market. The community features spacious layouts, central HVAC, on-site laundry facilities, a community swimming pool, covered carport parking, storage areas, and pitched composition roofs. Select units have been upgraded. Conveniently located with immediate access to the I-10, I-210, and I-605 freeways, the property provides connectivity throughout Los Angeles, Orange, Riverside, and San Bernardino Counties. The Bahamas Apartment is also minutes from Azusa Pacific University, Citrus College, Cal Poly Pomona, Plaza West Covina, and the Covina Metrolink Station. The offering is ideal for both private investors and 1031 exchange buyers seeking long-term upside through rental growth and operational improvements. The property is subject only to California AB-1482 and is not under local rent control, providing additional flexibility for future ownership.

FOR SALE DETAILS

PRICE

$7,280,000 USD

PRICE/SF

$319 USD /SF

# OF UNITS

24

PRICE/UNIT

$303,333

CAP RATE

5.76%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Bahamas

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

36

LAND DETAILS

LAND ACRES

1.04 AC

LAND SF

45,302 SF

ZONING

R3-RD2000, Covina

APN/PARCEL ID

8429-031-016

ASK ABOUT THIS PROPERTY

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626-407-7701

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Grady LiuMacroReal CommercialMore Info
626-407-7701

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