CBRE Facilitates $26.35M Sale of Cambridge Apartments in West Covina
CBRE has successfully facilitated the $26.35 million sale of Cambridge Apartments, a 76-unit multifamily community located at 2601 E. Valley Blvd. in West Covina, California. The property was acquired by a multifamily investment group, with CBRE’s Eric Chen and Justino Fa’aola representing the buyer in the transaction.
“This sale underscores the demand for well-maintained multifamily assets in the West Covina market,” said Eric Chen, Executive Vice President at CBRE. “The buyer recognized the significant value proposition, including the property’s prime location, recent upgrades, and the potential for future development.”
Spanning a 5.5-acre lot, the Cambridge Apartments community features a mix of one-bedroom and two-bedroom units. Its strategic location near the 60 Freeway offers efficient access to Los Angeles, Orange County, and the Inland Empire—making it particularly attractive to both renters and investors.
According to research by CBRE, the Greater Los Angeles area currently has an apartment vacancy rate of 4.2%, which is notably below the national average, further highlighting the appeal of well-situated multifamily properties in the region.
