Log In/Sign Up
Your email has been sent.
The Bahamas 826 N Barranca Ave 24 Unit Apartment Building $9,927,445 CAD ($413,644 CAD/Unit) 5.76% Cap Rate Covina, CA 91723
Investment Highlights
- Average Unit Size of 951 SF
- Strong In-Place Cash Flow with Value-Add Potential
- Strong Covina Rental Market Fundamentals
- Desirable Unit Mix with Studio, One-bedroom, Two-Bedroom and Four-Bedroom Units
- Excellent Freeway Accessibility
- Ideal 1031 Exchange Opportunity
Executive Summary
The Bahamas Apartment is a 24-unit garden-style apartment community located at 826 N Barranca Avenue in Covina, California. Built in 1961, the property offers an attractive and diverse unit mix including studio, one-bedroom, two-bedroom, and four-bedroom floor plans with an average unit size of approximately 951 square feet.
The property presents investors with a strong value-add opportunity in a desirable San Gabriel Valley rental market. The community features spacious layouts, central HVAC, on-site laundry facilities, a community swimming pool, covered carport parking, storage areas, and pitched composition roofs. Select units have been upgraded.
Conveniently located with immediate access to the I-10, I-210, and I-605 freeways, the property provides connectivity throughout Los Angeles, Orange, Riverside, and San Bernardino Counties. The Bahamas Apartment is also minutes from Azusa Pacific University, Citrus College, Cal Poly Pomona, Plaza West Covina, and the Covina Metrolink Station.
The offering is ideal for both private investors and 1031 exchange buyers seeking long-term upside through rental growth and operational improvements. The property is subject only to California AB-1482 and is not under local rent control, providing additional flexibility for future ownership.
The property presents investors with a strong value-add opportunity in a desirable San Gabriel Valley rental market. The community features spacious layouts, central HVAC, on-site laundry facilities, a community swimming pool, covered carport parking, storage areas, and pitched composition roofs. Select units have been upgraded.
Conveniently located with immediate access to the I-10, I-210, and I-605 freeways, the property provides connectivity throughout Los Angeles, Orange, Riverside, and San Bernardino Counties. The Bahamas Apartment is also minutes from Azusa Pacific University, Citrus College, Cal Poly Pomona, Plaza West Covina, and the Covina Metrolink Station.
The offering is ideal for both private investors and 1031 exchange buyers seeking long-term upside through rental growth and operational improvements. The property is subject only to California AB-1482 and is not under local rent control, providing additional flexibility for future ownership.
Property Facts
| Price | $9,927,445 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $413,644 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.04 AC |
| Cap Rate | 5.76% | Building Size | 22,820 SF |
| Gross Rent Multiplier | 11.2 | No. Stories | 2 |
| No. Units | 24 | Year Built | 1961 |
| Property Type | Multifamily | Parking Ratio | 1.58/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3-RD2000, Covina | ||
| Price | $9,927,445 CAD |
| Price Per Unit | $413,644 CAD |
| Sale Type | Investment |
| Cap Rate | 5.76% |
| Gross Rent Multiplier | 11.2 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.04 AC |
| Building Size | 22,820 SF |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.58/1,000 SF |
| Zoning | R3-RD2000, Covina |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Patio
Site Amenities
- Laundry Facilities
- Gated
- Recycling
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 549 |
| 1+1 | 9 | - | 746 |
| 2+1 | 1 | - | 950 |
| 2+2 | 12 | - | 1,102 |
| 4+2.5 | 1 | - | 1,380 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 8429-031-016 | Improvements Assessment | $2,057,434 CAD |
| Land Assessment | $5,586,732 CAD | Total Assessment | $7,644,166 CAD |
Property Taxes
Parcel Number
8429-031-016
Land Assessment
$5,586,732 CAD
Improvements Assessment
$2,057,434 CAD
Total Assessment
$7,644,166 CAD
1 of 13
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
The Bahamas | 826 N Barranca Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.