Edward Pan

The Pacific Partners of Colliers International proudly present for sale a 20-unit multifamily propertysituated at 19531 E Cienega Ave in Covina.​ This property offers investors the opportunity to acquirea pride-of-ownership, value-add real estate asset in the heart of the San Gabriel Valley.​ Constructed in 1988, the property features a favorable unit mix consisting entirely of large2-bedroom, 2-bathroom units.​ The units total approximately 16,191 square feet on a spacious 0.94-acre lot.​ Each unit includes its own patio or balcony and is separately metered for gas and electricity,providing added convenience.​ The property boasts an onsite laundry facility, a swimming pool, andsecure gated entries.​ Parking accommodations include ample carports and uncovered spaces onthe large lot.​ Offered on the market for the first time in over 20 years, the majority of the units have beenrenovated by the owner.​ Current rents are significantly below market, providing over 25% upsideon rents.​ Additionally, there is potential for extra rental income by adding accessory dwelling units(ADU), subject to verification by the buyer.​ Strategically positioned, 19531 E Cienega Ave offers convenient access to a multitude of amenitiesand attractions.​ The property is located in close proximity to supermarkets, national retailers,restaurants, and schools, with easy access to major transportation arteries, including the 210 and10 freeways and the Covina Metrolink Station.​ This sought-after location provides investors with theprospect of acquiring a lucrative multifamily asset poised to generate substantial cash flow whileoffering a hedge against inflation in the thriving city of Covina.​

The Pacific Partners of Colliers International is pleased to exclusively present the Wilson Street Apartments, awell-maintained 10-unit multifamily property located at 1072 West Wilson Street in Pomona, California.​ Thisvalue-add investment opportunity offers a blend of stable, long-term tenancy and significant upside potentialin a prime Southern California rental market.​ Built in 1955, the two-story building consists of ten spacious units, including four one-bedroom/one-bath units and six two-bedroom/one-bath units.​ The property sits on a large 17,442 square foot corner lot, offering 8,104 rentable square feet.​ Located in a quiet residential neighborhood, the complex provides tenants with ten enclosed garages and ample street parking.​ Additional amenities include an on-site laundry facility, a secure gated entrance, and a spacious enclosed courtyard ideal for a children’s play area.​ Each unit is individually metered for gas and electricity and is equipped with a wall-mounted air conditioning unit and a gas wall heater.​ The property features a stable tenant base, with current rents over 25% below market, offering investors a substantial rental upside and the potential to achieve a Pro Forma CAP rate of 5.74%.​ Five of the units have been extensively renovated, featuring upgraded flooring, kitchens, and bathrooms.​ Pomona has no local rent control, allowing investors to maximize returns with rent increases under California AB1482.​ Additionally, there is potential for further income growth through the addition of accessory dwelling units (ADUs), subject to buyer verification.​ Strategically located, the Wilson Street Apartments are just a short drive from key transportation routes, including Interstate 10 and Highway 71, as well as popular destinations such as Mountain Meadows Golf Course and Pomona Fairplex, home to the world-renowned LA County Fair and the historic Auto Club Raceway.​

Edward Pan

About Edward Pan

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2 properties

Covina

Family Home

$6,600,000

16,200 ft²

Properties for sale by listing agent Edward Pan

$6,588,000

$2,650,000

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Edward Pan

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