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California  + Los Angeles  + Apartments  | 

Multifamily Sale Illustrates Steady Returns in Suburbs 

Northmarq completed the $40-million sale of Sunset Square, a 140-unit multifamily property located at 745 N. Sunset Ave. in West Covina. The four-building property was built in 1964 and renovated in 2015. Shane Shafer, managing director of Northmarq’s Irvine Multifamily Investment Sales team, represented the seller. 

“This sale shows the strength of the greater Los Angeles market that continues to be in demand for investors,” said Shafer. “West Covina is a great example of how the suburban Los Angeles markets are producing great opportunity for multifamily investors looking for steady returns in the Los Angeles County market.” 

Sunset Square is located minutes away from the Kaiser Permanent Baldwin Park Medical Center, Azusa Pacific University and New Western University. Residents can choose from one-, two- or three-bedroom floor plans with quartz countertops, modern interiors and energy-efficient appliances. The property offers amenities including a swimming pool, fitness center and outdoor lounge areas. 

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Northmarq's Shafer

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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