Covina Multifamily Investment
826 N Barranca, Covina, CA 91723
New
Commercial/Residential - Covina, CA
Property size:
22,820 SFLot size:
45,075.00 AcresPrice / SF:
$319/SF- Added:
- May 21, 2026
- Days on Market:
- 2
- Last Refresh:
- May 22 at 5:06 pm
Property Features for 826 N Barranca
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 9
- Bathrooms
- 8
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Parking features
- Assigned
- Exterior features
- Community Features Included: Valley, Lot 20000-39999 Sqft
- Standard status
- Active
- APN
- 8429031016
- Size
- 22,820 SF
- Lot size
- 45,075.00 Acres
Building Details
- Year built
- 1961
- Floors in Building
- 2
- Number of units
- 24
- Architectural style
- Other
Listing agent Grady Liu License #01290494 (626) 236-8934
Listing office MacroReal Inv Grp Inc. 324 S. Diamond Bar Blvd #151, Diamond Bar, CA (626) 898-5868
Listing date May 21, 2026
MLS# TR26111339
Listing URL
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Strong value‑add opportunity in a desirable San Gabriel Valley rental market.
- Diverse unit mix including studio, one‑bedroom, two‑bedroom, and four‑bedroom floor plans.
- Convenient access to I‑10, I‑210, and I‑605 freeways providing connectivity throughout Southern California.
- Community features a swimming pool, on‑site laundry facilities, and covered carport parking.
- Not under local rent control, subject only to California AB‑1482.
- Minutes from Azusa Pacific University, Citrus College, Cal Poly Pomona, Plaza West Covina, and the Covina Metrolink Station.
Overview
The Bahamas Apartment is a 24-unit garden-style apartment community located in Covina, California. Constructed in 1961, the property features studio, one-bedroom, two-bedroom, and four-bedroom floor plans, with an average unit size of approximately 951 square feet. The property, situated on a lot of approximately 1.03 acres, offers a value-add opportunity in the San Gabriel Valley rental market. Community amenities include spacious layouts, central HVAC, on-site laundry facilities, a community swimming pool, covered carport parking, storage areas, and pitched composition roofs. Select units have been upgraded. The property has a total size of 22820 square feet.
Located with access to the I-10, I-210, and I-605 freeways, the property provides connectivity throughout Los Angeles, Orange, Riverside, and San Bernardino Counties. The Bahamas Apartment is also near Azusa Pacific University, Citrus College, Cal Poly Pomona, Plaza West Covina, and the Covina Metrolink Station. The property is suitable for private investors and 1031 exchange buyers seeking long-term upside through rental growth and operational improvements. The property is subject to California AB-1482 and is not under local rent control.
Located with access to the I-10, I-210, and I-605 freeways, the property provides connectivity throughout Los Angeles, Orange, Riverside, and San Bernardino Counties. The Bahamas Apartment is also near Azusa Pacific University, Citrus College, Cal Poly Pomona, Plaza West Covina, and the Covina Metrolink Station. The property is suitable for private investors and 1031 exchange buyers seeking long-term upside through rental growth and operational improvements. The property is subject to California AB-1482 and is not under local rent control.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$4.08M
NOI $367,192 @ 9.00% cap · cautious / downside scenario
Moderate
$5.25M
NOI $367,192 @ 7.00% cap · market / base-case scenario
Aggressive
$7.34M
NOI $367,192 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $725.7k | $31.80 |
| − Vacancy | −$58.1k | −$2.54 |
| EGI | $667.6k | $29.26 |
| − OpEx | −$300.4k | −$13.17 |
| NOI | $367.2k | $16.09 |
22,820 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$5.25M
$4.59M – $6.12M
NOI $367,192 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.22M
$10.69M – $14.25M
NOI $855,242 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Bahamas Apartments
Apartment Building
Magic Clean Maid ...
Hotel & Motel
Location Insight
- Map
- Local Demand
- City
- Covina
- County
- Los Angeles
- State
- California
- Longitude
- -117.8807445
- Latitude
- 34.094884
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 24-unit apartment community in Covina, California.
Where is this apartment building located?
The property is located at 826 N Barranca Covina, CA.
What is the asking price?
The asking price for this property is $7,280,000.
What are key features of this property?
This property features: Strong value‑add opportunity in a desirable San Gabriel Valley rental market.; Diverse unit mix including studio, one‑bedroom, two‑bedroom, and four‑bedroom floor plans.; Convenient access to I‑10, I‑210, and I‑605 freeways providing connectivity throughout Southern California.
