2 days ago
- Business
- Los Angeles Times
Mogharebi Group Arranges $21-Million Sale of Covina Apartments
The Mogharebi Group, a Costa Mesa-based real estate services firm, advised RPK Development on the sale of Pacific Trails, an 84-unit apartment community in Covina, to a Los Angeles-based private investment firm for $21 million. RPK had owned the property since 2018 and sold it to diversify its holdings beyond California.
Pacific Trails was built in 1977 and features a mix of one- and two-bedroom units housed in nine, two-story residential buildings on a 3.2-acre site. Amenities include vinyl plank flooring, upgraded cabinet fronts and modern kitchens, along with a pool, spa and fire pits.
'With more than two million residents and a rising share of cost-stressed households, the San Gabriel Valley continues to face urgent housing challenges,' said Mike Marcu, senior vice president at the Mogharebi Group.
Information for this article was sourced from The Mogharebi Group.
