Highest and Best Use: Residential Townhome Development
Partner: Hopkins Real Estate
Status: Assigned to Home Builder
This is an old industrial complex located on 8.38 acres in an infill location in Covina, CA. The highest and best use is a residential transit oriented development that is walking distance to the Covina Metrolink station. Dense infill location with over 400k people within 5 miles and average household income of nearly 100k. The property is part of the Covina Town Center Specific plan and is close to Downtown Covina, City Hall, City Library and the Police Department. It is conveniently located next to Kelby Park, and close to Shopping, Churches, and local schools. Real Capital Inc. along with Hopkins Real Estate secured the real estate, negotiated with the City for residential development, and assigned the deal to a major home builder.
