Press Releases
Marcus & Millichap Facilitates $8.2 Million Sale of 40-Unit Apartment in Covina, California
May 28, 2026
COVINA, Calif., May 28, 2026 – 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 Vincent Village, a 40-unit apartment property located at 4810 N. Vincent Ave. in Covina, California. The property sold for $8.2 million, or $205,000 per unit.
“The property was located in unincorporated Los Angeles County where annual rent increases are limited to 60 percent of the Consumer Price Index, which created a challenge,” said Douglas McCauley, senior managing director investments. “However, the property’s strong in-place cash flow, rental upside and the potential to construct multiple accessory dwelling units created significant buyer interest as we generated more than 10 offers for this asset.”
The property was built in 1984 and well-positioned in the San Gabriel Valley. The 26,969-square-foot property features 38 two-bedroom, one-bathroom units and two non-conforming studio units. The asset includes secured entry and parking, a swimming pool, patios, balconies, 73 parking spaces, copper plumbing, an on-site manager’s office and laundry facility. The property closed at a 5.9 percent cap rate with approximately 29 percent rental upside.
McCauley and David Covarrubias, managing director investments, both in Marcus & Millichap’s Inland Empire office, had the exclusive listing to market the property on behalf of the seller, Vincent Village Venture LLC, and also procured the buyer, DIBA LLC.
“The property was located in unincorporated Los Angeles County where annual rent increases are limited to 60 percent of the Consumer Price Index, which created a challenge,” said Douglas McCauley, senior managing director investments. “However, the property’s strong in-place cash flow, rental upside and the potential to construct multiple accessory dwelling units created significant buyer interest as we generated more than 10 offers for this asset.”
The property was built in 1984 and well-positioned in the San Gabriel Valley. The 26,969-square-foot property features 38 two-bedroom, one-bathroom units and two non-conforming studio units. The asset includes secured entry and parking, a swimming pool, patios, balconies, 73 parking spaces, copper plumbing, an on-site manager’s office and laundry facility. The property closed at a 5.9 percent cap rate with approximately 29 percent rental upside.
McCauley and David Covarrubias, managing director investments, both in Marcus & Millichap’s Inland Empire office, had the exclusive listing to market the property on behalf of the seller, Vincent Village Venture LLC, and also procured the buyer, DIBA LLC.
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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
