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California  + Los Angeles  + Apartments  | 

Investment Group Acquires West Covina Apartments

CBRE facilitated the $26.35-million sale of Cambridge Apartments, a 76-unit multifamily property located at 2601 E. Valley Blvd. in West Covina. A multifamily investment group acquired the community, represented by CBRE’s Eric Chen and Justino Fa’aola.

“This sale underscores the demand for well-maintained multifamily assets in the West Covina market,” said Chen, EVP at CBRE. “The buyer recognized the significant value proposition, including the property’s prime location, recent upgrades and the potential for future development.”

Situated on a 5.5-acre lot, the property offers a unit mix of one-bedroom and two-bedroom apartments. It provides convenient access to Los Angeles, Orange County and the Inland Empire, thanks to its location near the 60 Freeway.

According to CBRE research, the Greater Los Angeles apartment vacancy rate is at 4.2%, significantly lower than the national average.

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CBRE's Chen

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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