Northmarq completes $40 million sale of Sunset Square multifamily community in West Covina, CA

Sunset Square
Sunset Square, a 140-unit multifamily property located in West Covina, CA
IRVINE, Calif. (Oct. 31, 2023) — Shane Shafer, managing director of Northmarq’s Irvine Multifamily Investment Sales team, has completed the $40 million sale of Sunset Square, a 140-unit multifamily property located at 745 N. Sunset Ave. in West Covina. The four-building property was built in 1964 and renovated in 2015. Northmarq represented the seller. “We are very pleased to be able to close another high-quality Southern California apartment asset,” said Shafer. “This sale shows the strength of the greater Los Angeles market that continues to be in demand for investors. West Covina is a great example of how the suburban Los Angeles markets are producing great opportunity for multifamily investors looking for steady returns in the Los Angeles County market.” Sunset Square is a pet-friendly community located in the beautiful West Corvina neighborhood, minutes away from the Kaiser Permanent Baldwin Park Medical Center, Azusa Pacific University and New Western University. Residents enjoy a central location near high-end dining and local boutiques. Residents can choose from one-, two- or three-bedroom floor plans with quartz countertops, modern interiors and energy-efficient appliances. Sunset Square offers an array of amenities including a swimming pool, fitness center and outdoor lounge areas. Apartment amenities include: White cabinets with kitchen glass tile backsplash, carpet options, chrome lighting and hardware, full-length mirrored closet doors and designer select finishes. Community amenities include: Gated community, laundry facilities, covered parking, gas barbecues, resident clubhouse, extra storage and 24-hour emergency maintenance. View available multifamily properties here.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit

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