1535-1551 E Amar Rd 11,295 SF 100% Leased Retail Building West Covina, CA 91792 $6,559,273 CAD ($580.72 CAD/SF) 6.05% Cap Rate

Konex Realty is pleased to present 1535–1551 E Amar Rd, a 100%-leased, multi-tenant retail strip center in West Covina, California — offered at $4,799,000 with a 6.05% Adjusted CAP Rate based on verified 2025 financials (normalized for a market 6% owner management fee). Reported in-place CAP is higher; the 6.05% figure reflects buyer-side underwriting.
The property consists of 10 tenant spaces totaling ±11,295 SF on a 1.96-acre lot, built in 1975 and zoned PCD1 (Planned Community Development). All 10 units are currently leased with staggered expirations from 2026 through 2030 — eliminating concentration risk and providing a built-in roadmap for sequential rent escalation.
2025 ACTUAL PERFORMANCE (Verified):
Gross Income $471,155 | OpEx $152,707 (incl. 6% mgmt fee $28,269) | Adjusted NOI $290,179 | Adjusted CAP 6.05% | 100% Occupied
ANCHOR SYNERGY — WEST COVINA CENTER:
1535 E Amar Rd is not a stand-alone strip center. It is embedded within West Covina Center — a master-planned, multi-parcel Filipino-American retail destination anchored by Seafood City Supermarket, Jollibee, Chowking, and Carl's Jr. These destination anchors drive thousands of weekly visitors at zero marketing cost to the owner.
AMAZON-PROOF RETAIL:
Every tenant operates in a category immune to e-commerce disruption: in-person dining (Baja Cali Fish & Tacos, Poke Restaurant), dental care (Noemi T. Bautista, DMD), personal services (Expert Nail & Spa, Positive Image Salon, Ms Kawaii Lash), specialty food retail (Toto's Quality Foods), international remittance (Lucky Money Transfer), and community retail (I AM Worldwide, Smoke Shop).
STRUCTURAL OCCUPANCY PROTECTION:
The property sits at the heart of the nation's largest Filipino-American community hub. With 15–20% of West Covina's population being Filipino-American and the SGV Filipino belt extending through Covina, Baldwin Park, Rowland Heights, and Hacienda Heights, tenant demand here is structural — not speculative.
VALUE-ADD UPSIDE TO 7.05% CAP:
A new owner can realistically push returns from the in-place 6.05% CAP to 7.05%+ through two simple, low-risk adjustments — no capex, redevelopment, or re-tenanting required:
• Proforma A — Smoke Shop lease-up at market: ~$10K/yr lift ? 6.25% CAP
• Proforma B — 10% rent increase at 2026–2027 renewals: ~$38K/yr lift ? 6.84% CAP
• Proforma C — Combined Strategy: ~$48K/yr lift ? 7.05% CAP
Positioned along E Amar Rd with 358 feet of frontage at a signalized intersection, ample on-site parking (±300 spaces), and direct access to major thoroughfares and public transit, this asset offers exceptional visibility, accessibility, and long-term demand stability in one of LA County's most economically resilient suburban markets.