2000 W Pacific Ave, West Covina, CA 91790

Property 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.