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Property profile & analytics
FOR LEASE
Office buildings
2934 E Garvey Ave S, West Covina, CA 91791
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US09-6866812
For Lease
1 / 2
$21,245,000
2934 E Garvey Ave S, West Covina, CA 91791
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1980
Construction
WOOD
Total area
108,186 SF
Lot
1.74 ac (75,955 SF)
Zoning code
WCC2*
APN
8480-001-029
UPID
US09-6866812
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Chin-Ling Chen Foster Care Service Social Service Agency
-
ProEd Consulting and Staffing Employment Agency
-
Princes Auto Car Dealership
-
Rosalba Farias Realty Consultant
-
New American Funding - West Covina, CA Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$27.71M
Blend (final)
Blend
$21.25M
Owner & transaction history
Options For Learning · 3 yrs held
Options For Learning
since 2023
Last sale
$22.2M
7 recorded transactions
Zoning & alternative use
WCC2* · West Covina, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs West Covina submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Covina submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$21,085,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$33,425,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$21.25M
Range $19.12M – $23.37M · ±10% · vs last sale $22.20M (Feb 3 2023)
Last sale anchor
$22.20M
Feb 3 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$196 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$217,575
Tax year 2024
Assessed value
$22,644,000
Assessed 2024
Previous assessed
$22,644,000
+0.0% YoY
Effective rate
0.96%
On assessed value
Assessed land
$6,324,000
Assessed improvement
$16,320,000
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1980
Construction
WOOD
Heating
NONE
Stories
3
Total area
108,186 SF
Lot
1.74 ac (75,955 SF)
Zoning code
WCC2*
APN
8480-001-029
UPID
US09-6866812
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
WCC2* · West Covina, CA
Zoning WCC2* · permitted uses
WCC2* · West Covina, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Covina. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$33.4M
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1980
Construction
WOOD
Heating
NONE
Stories
3
Lot
1.74 ac
Current owner
From public records · entity-resolved
Options For Learning
Individual
Mailing address
2934 E GARVEY AVE S, WEST COVINA, CA 91791-2190
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
25 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2023
$22,200,000
Options For Learning
Garvey Ave South LLC
Grant Deed
$16,650,000 · Wells Fargo Bank NA
May 2, 2022
—
Garvey Avenue South LLC
Garvey Avenue South LLC
Intrafamily Transfer
related
$15,700,000 · Arixa Enhanced Income Fund LP
May 31, 2019
—
Garvey Avenue South LLC
—
Grant Deed
related
$15,500,000 · Pfp Hldg Co Vi LLC
Jul 31, 2017
—
Garvey Avenue South LLC
—
Deed
related
—
Apr 17, 2015
$8,250,000
Garvey Avenue South LLC
Raha Investments LLC
Grant Deed
$6,500,000 · The Evergreen Advantage LLC
Jul 10, 2014
—
Raha Investments LLC
Raha Investments LLC
Quit Claim Deed
related
—
Apr 4, 2014
$7,125,000
Raha Investments LLC
Best Union LLC
Grant Deed
$4,987,500 · Bolour Associates INC
Jun 7, 2012
$3,500,000
Best Union LLC
Ckl Investment Corp
Grant Deed
—
Oct 12, 2007
—
Ckl Investment Corp
—
Deed Of Trust
related
$8,800,000 · Bank Of China
Mar 10, 2004
—
C K L Investment Corp
West Covina Office Building Lc
Grant Deed
$7,150,000 · United Commercial Bank
Sep 8, 1998
—
West Covina Office Building LLC
—
Deed Of Trust
related
—
Apr 21, 1992
—
Joseph Y Chen
—
Deed Of Trust
related
—
Jan 29, 1992
$280,000
Tai R Wang
Chen,joseph Y
Grant Deed
related
—
Sep 14, 1990
$6,635,000
Chen Joseph Y &
Carpenters Pensi
Trustees Deed
—
Sep 14, 1990
$4,644,500
Hong Hsien H & W
Hsu Hsiao H
Trustees Deed
$4,976,250 · Carpenters Pensi
Mar 27, 1990
—
Asd
Carpe
Grant Deed
related
—
—
—
Garvey Avenue South LLC
—
Deed Of Trust
related
$10,916,000 · Fortress Cr
—
—
West Covina Office Building
—
Deed Of Trust
related
$7,080,000 · Chang Hwa Commercial Bank Ltd
—
—
C K L Investment Corp
—
Deed Of Trust
related
$500,000 · West Covina Office Building
—
—
Hsien H Hong
—
Deed Of Trust
related
$7,500,000 · Chang Hwa Commercial Bank Ltd
—
—
West Covina Office Building Ll
—
Deed Of Trust
related
$750,000 · Chang Hwa Commercial Bank Ltd
—
—
Raha Investments LLC
—
Deed Of Trust
related
$1,000,000 · Lbc Solutions INC
—
—
Ckl Investment Corp
—
Deed Of Trust
related
$600,000 · United Commercial Bank
—
—
West Covina Building LLC
—
Deed Of Trust
related
$348,000 · Chang Hwa Commercial Bank Ltd
—
—
Joseph Y Chen
—
Deed Of Trust
related
$300,000 · Individual
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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