Marcus & Millichap Announces the Sale of Orlando Apartments, a Six-Unit Multifamily Property in Covina, California

COVINA, Calif., July 9, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Orlando Apartments, a six-unit multifamily property located in Covina, California. The asset sold for $1,635,000.

“This property was on the market for 60 days and generated multiple offers,” said Doug McCauley, senior managing director investments in Marcus & Millichap’s Inland Empire Office. “We closed escrow at $272,500 per unit with 83-percent one-bedroom units, with seller financing.” McCauley, along with David Covarrubias, first vice president investments, and John Gracias, investment associate in the firm’s Inland Empire office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.

Orlando Apartments is located at 316 East Orlando Way in Covina, California. Built in 1962, this property consists of five 1-bedroom and one 2-bedroom units. Residents are less than one mile from Downtown Covina.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.