Northmarq completes $40 million sale of Sunset Square multifamily community 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.