Los Angeles, Residential Income – 2000 W Pacific Ave, West Covina, CA 91790, USA -001-11-30T00:00:00-08:00
Mauna Loa offers an investor a unique opportunity to acquire a larger-sized asset with a proven value-add opportunity in the San Gabriel Valley. West Covina is ideally located, providing residents access to both Los Angeles, Northern Orange County, and the I
2000 W Pacific Ave, West Covina, CA 91790, USA
$18,750,000 USD
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Address2000 West Pacific Avenue, West Covina
Price$18,750,000
Year Built1963
Bedrooms Total0
Living Area83,200 ft2
Lot Size (Sq.Ft.)283,140
Listing IDCV17206590
StatusActive
Parcel Number8459027002
ZoningWCR3
Special ConditionsStandard
Days on Market13

Detailed Description: Mauna Loa offers an investor a unique opportunity to acquire a larger-sized asset with a proven value-add opportunity in the San Gabriel Valley. West Covina is ideally located, providing residents access to both Los Angeles, Northern Orange County, and the Inland Empire. Apartment operations continue to improve in West Covina as there is a lack of new supply being introduced to the market, coupled with the demand for infill San Gabriel Valley apartments. Axiometrics projects an average annual growth of 3.22% over the next five years, while occupancy levels are expected to average 95.88% over the same period. An investor will have the opportunity to continue the current renovation plan to achieve greater revenue upside through comprehensive unit upgrades. Additionally, Mauna Loa Garden has many under-utilized open spaces that can be repurposed to offer tenants a greater property amenity package. The property currently offers residents a swimming pool, barbecue area, three laundry facilities, leasing office, large private patios, and courtyards. Mauna Loa Garden is being offered free and clear of debt encumbrances, allowing an investor to take advantage of multiple different accretive debt structures.

Laundry
Pool Private
Rent Control
Senior Community
Property Attached
Land Lease

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Address Information
Address2000 West Pacific Avenue, West Covina
Street PrefixWest
Street SuffixAvenue
CityWest Covina
Location (MLS Area)669 – West Covina
County Or ParishLos Angeles
State or ProvinceCA
Postal Code91790
Postal Code Plus42061
CountryUS
Financial Information
Price per Square Foot$225.36
Price per Lot Square Foot$66.22
Special ConditionsStandard
Total Expenses$602,116
Professional Management Expense$58,516
Operating Expense$602,116
Insurance Expense$16,975
Electric Expense$6,520
Water Sewer Expense$28,718
Trash Expense$29,500
Gross Income$1,304,117
Gross Scheduled Income$1,268,028
Net Operating Income$702,001
Tax Year2000
Tax Lot1
New Taxes Expense$221,189
Full Descriptions
Parcel Number8459027002
Detailed DescriptionMauna Loa offers an investor a unique opportunity to acquire a larger-sized asset with a proven value-add opportunity in the San Gabriel Valley. West Covina is ideally located, providing residents access to both Los Angeles, Northern Orange County, and the Inland Empire. Apartment operations continue to improve in West Covina as there is a lack of new supply being introduced to the market, coupled with the demand for infill San Gabriel Valley apartments. Axiometrics projects an average annual growth of 3.22% over the next five years, while occupancy levels are expected to average 95.88% over the same period. An investor will have the opportunity to continue the current renovation plan to achieve greater revenue upside through comprehensive unit upgrades. Additionally, Mauna Loa Garden has many under-utilized open spaces that can be repurposed to offer tenants a greater property amenity package. The property currently offers residents a swimming pool, barbecue area, three laundry facilities, leasing office, large private patios, and courtyards. Mauna Loa Garden is being offered free and clear of debt encumbrances, allowing an investor to take advantage of multiple different accretive debt structures.
Lot Features11-15 Units / Acre
Community FeaturesCurbs, Sidewalks
Water SourcePublic
Laundry FeaturesCommunity
Common Walls Description2
Pool FeaturesCommunity Pool
Property parameters
Year Built1963
Living Area (Sq.Ft.)83,200 ft2
Lot Size (Sq.Ft.)283,140
Lot Size (Acres)6.5
Lot Size SourceAssessor
Number of Buildings20
Number of Units Total80
ZoningWCR3
Parking Spaces152
Garage Spaces10
Uncovered Spaces52
LevelsOne
Carport Spaces90
Water SourcePublic
Units Total80
Year Built SourceAssessor
Number of Separate Electric Meters81
Number of Separate Gas Meters81
Number of Separate Water Meters1
Listed withERIC CHEN (CB RICHARD ELLIS)