The Mogharebi Group (TMG) advised RPK Development on the sale of Pacific Trails, an 84-unit apartment community in Covina, California to a Los Angeles-based private investment firm for $21 million.
Built in 1977, Pacific Trails is located at 18615 Arrow Highway, 22 miles east of downtown Los Angeles in Southern California’s San Gabriel Valley. Pacific Trails features a mix of one- and two-bedroom units housed in nine, two-story residential buildings on a 3.21-acre site. The units offer luxury finishes such as vinyl plank flooring, upgraded cabinet fronts, and modern kitchens. Residents also enjoy resort-style amenities, including a pool, spa, and fire pits.
In addition to access to Interstates 10, 210 and State Route 57, Pacific Trails also is less than two miles from both the Metrolink Train and Metro Light Rail stations, offering residents excellent connectivity to major job centers of Pasadena, Los Angeles, The Inland Empire and Orange County.
“With more than two million residents and a rising share of cost-stressed households, the San Gabriel Valley continues to face urgent housing challenges,” said TMG Senior Vice President Mike Marcu, who represented the seller. “Pacific Trails presented a unique opportunity—an asset well-positioned to support the preservation of affordability in the San Gabriel Valley, one of Southern California’s most transit-connected and rent-burdened regions.”
With median home prices in the East San Gabriel Valley hovering around $800,000 and multifamily occupancy rates near 96%, rental demand in the region remains strong, creating a compelling investment opportunity in a dynamic and supply-constrained market according to TMG Co-Founder and Executive Vice President Otto Ozen.
“The visibility, access, and the well-maintained condition of the property generated strong interest from a robust pool of investors, culminating in multiple offers,” Ozen said.
Founded in 2016 by Alex Mogharebi, The Mogharebi Group (mogharebi.com) is a vertically integrated real estate services firm specializing in multifamily investment sales, financing and advisory services. The firm is a leader in real estate investment and advisory, specializing in the multifamily property sector throughout the Western U.S. with nationwide reach.
