Institutional Property Advisors, a division of Marcus & Millichap, announced the exclusive listing for sale of Pacific Trails Apartments, an 84-unit apartment property located in Covina, California. The price is open bid.
“Located close to entertainment and shopping along Arrow Highway and Azusa Avenue, Pacific Trails Apartments has benefitted from numerous recent improvements and remains an excellent candidate for additional value enhancing renovations to optimize operations and increase value,” said Alexander Garcia, Jr., IPA executive director. Garcia and IPA’s Kyle Pinkalla and Chris Zorbas are representing the seller, a private party.
The property is located off Arrow Highway, close to State Route 66, near Interstates 10, 210, and 605. The Covina and Baldwin Park Metrolink stations are nearby and major Inland Empire employers, including Southern California Edison, California State Polytechnic, Pomona, and City of Hope Medical Center are within 20 miles. Within a five-mile radius, the population is over 354,000 and average annual household income is more than $113,000.
Institutional Property Advisors (IPA) is a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios.
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