NOT LISTED FOR SALE

2000 W Pacific Ave West Covina, CA 91790

10 Beds
5 Baths
83,200 Sq Ft
6.5 Acres

Last Sold December 19, 2017

Last sale price $18,800,000 $226 Per Sq Ft

47 Days on Market

Highlights

  • 283,140 Sq Ft lot
  • Community Pool
  • Laundry Room
  • Edgewood High School Rated A-

About This Home

As of December 2017

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.

Last Listed By

Eric Chen

CB RICHARD ELLIS Listed on: 08/04/2017

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 6.5 Acre Lot
  • Two or More Common Walls
  • Density is 11-15 Units/Acre
  • 8459027003

Parking

  • 52 Open Parking Spaces
  • 10 Car Garage
  • 90 Carport Spaces

Home Design

  • 83,200 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room

Listing and Financial Details

  • Tax Lot 1, 2
  • Assessor Parcel Number 8459027002

Community Details

Overview

  • 20 Buildings
  • 80 Units

Amenities

  • Laundry Facilities

Recreation

  • Community Pool

Building Details

  • 81 Separate Electric Meters
  • 81 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $6,520
  • Fuel Expense $2,717
  • Insurance Expense $16,975
  • Professional Management Expense $58,516
  • Trash Expense $29,500
  • Water Sewer Expense $28,718
  • New Taxes Expense $221,189
  • Operating Expense $602,116
  • Gross Income $1,304,117
  • Net Operating Income $702,001

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Parking

10

Listing Details

  • Other Phone Description: Office
  • Other Phone Number: 909-418-2119
  • Professional Management Expense: 58516.00
  • Property Attached: Yes
  • Water Sewer Expenses: 28718.00
  • Zoning: WCR3*
  • Property Type: Residential Income
  • Parcel Number: 8459027002
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: One
  • Price Per Square Foot: 225.96

Exterior Features

  • Pool Features: Community
  • Pool Private: No

Garage/Parking

  • Carport Spaces: 90.00
  • Garage Spaces: 10.00
  • Total Parking Spaces: 152.00
  • Uncovered Spaces: 52.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 29500.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 8459027003
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 283140.00

Multi Family

  • Electric Expense: 6520.00
  • Fuel Expense: 2717.00
  • Gross Income: 1304117.00
  • Gross Scheduled Income: 1268028.00
  • Insurance Expense: 16975.00
  • Net Operating Income: 702001.00
  • Number Of Separate Electric Meters: 81
  • Number Of Separate Gas Meters: 81
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 80
  • Operating Expense: 602116.00
  • Rent Control: No
  • Total Expenses: 602116.00

Tax Info

  • New Taxes Expense: 221189.00
  • Tax Census Tract: 4053.02
  • Tax Lot: 1, 2
  • Tax Tract Number: Hathaw

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/19/2017 12/19/17 Sold $18,800,000 +0.3% $226 / Sq Ft
09/20/2017 09/20/17 Pending -- -- --
08/04/2017 08/04/17 For Sale $18,750,000 -- $225 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Eric Chen

    Seller's Agent in 2017

    Eric Chen

    CB RICHARD ELLIS

    (909) 418-2030

    56 Total Sales

    Eric Chen
    Section Image
  • Priscilla Nee

    Seller Co-Listing Agent in 2017

    Priscilla Nee

    CB Richard Ellis, Inc.

    (310) 550-2500

    35 Total Sales

    Priscilla Nee
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV17206590

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County West Covina 91790

2000 W Pacific Ave, West Covina, CA

Homes for Sale in West Covina, CA

This home is located at 2000 W Pacific Ave, West Covina, CA 91790 since 04 August 2017. This property was built in 1963. 2000 W Pacific Ave is a home located in Los Angeles County with nearby schools including Monte Vista Elementary School, Walnut Grove Intermediate School, and Edgewood High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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