This 1990-built, four-unit townhouse-style compound in the heart of Covinas high-demand rental corridor offers a rare blend of modern infrastructure and operational efficiency, making it a premier turnkey investment. Designed to streamline management, the property features full utility independence with separately metered gas and electricity for every unit. The unit mix consists of one 3-bed/2-bath residence and three 2-bed/2-bath residences, all outfitted with modern amenities including central air conditioning, gas ranges, dishwashers, garbage disposals, in-unit laundry hookups, and private wood-fenced patios. The property distinguishes itself from local competition with a robust parking configuration that combines attached and detached garages with dedicated on-site guest spaces. Situated on a massive 11,148-square-foot lot, the site also offers significant value-add potential for future development or ADU expansion, subject to buyer verification. Combining quality construction with efficient infrastructure, this high-performing asset is ideally positioned as a reliable, long-term anchor for any investment portfolio.
The property features 12 spacious 3-bedroom, 1.75-bathroom apartment homes, and one studio unit, creating a highly attractive unit mix seldom available in the marketplace. The large floor plans appeal to a variety of households seeking affordable alternatives to single-family housing in the San Gabriel Valley. Most units have undergone interior upgrades, enhancing tenant appeal while reducing near-term capital expenditure requirements for a new owner. Improvements may include updated flooring, kitchens, bathrooms, fixtures, and interior finishes. The property benefits from consistent occupancy and strong tenant demand due to its central location within Covina, proximity to major transportation corridors, retail amenities, schools, and regional employment centers. Investment Highlights: Rare large-unit multifamily asset with predominantly 3-bedroom units; Fully occupied with stable tenancy Most units extensively upgraded; Attractive San Gabriel Valley location; Strong rental demand for family-sized units; Potential continued rental upside Desirable commuter access to employment centers throughout Los Angeles County; Carport parking amenity for tenants; Coin-operated laundry onsite for extra income.
The Bahamas Apartment is a 24-unit garden-style apartment community located at 826 N Barranca Avenue in Covina, California. Built in 1961, the property offers an attractive and diverse unit mix including studio, one-bedroom, two-bedroom, and four-bedroom floor plans with an average unit size of approximately 951 square feet. The property presents investors with a strong value-add opportunity in a desirable San Gabriel Valley rental market. The community features spacious layouts, central HVAC, on-site laundry facilities, a community swimming pool, covered carport parking, storage areas, and pitched composition roofs. Select units have been upgraded. Conveniently located with immediate access to the I-10, I-210, and I-605 freeways, the property provides connectivity throughout Los Angeles, Orange, Riverside, and San Bernardino Counties. The Bahamas Apartment is also minutes from Azusa Pacific University, Citrus College, Cal Poly Pomona, Plaza West Covina, and the Covina Metrolink Station. The offering is ideal for both private investors and 1031 exchange buyers seeking long-term upside through rental growth and operational improvements. The property is subject only to California AB-1482 and is not under local rent control, providing additional flexibility for future ownership.
We are pleased to present for sale a 20-unit multifamily property situated at 19531 E Cienega Ave in Covina. This property offers investors the opportunity to acquire a pride-of-ownership, value-add real estate asset in the heart of the San Gabriel Valley. Constructed in 1988, the property features a favorable unit mix consisting entirely of large 2-bedroom, 2-bathroom units. The units total approximately 16,191 square feet on a spacious 0.94-acre lot. Each unit includes its own patio or balcony and is separately metered for gas and electricity, providing added convenience. The property boasts an onsite laundry facility, a swimming pool, and secure gated entries. Parking accommodations include ample carports and uncovered spaces on the large lot. The property has been well-maintained under long-term ownership for over 20 years with most units having been renovated. Current rents are more than 25% below market, presenting a clear path for income growth. Located in unincorporated Los Angeles County, the property falls under the county's rent stabilization ordinance. Additionally, there is potential for additional rental income by adding accessory dwelling units (ADUs), subject to verification by the buyer. Strategically positioned, 19531 E Cienega Ave offers convenient access to a multitude of amenities and attractions. The property is in close proximity to supermarkets, national retailers, restaurants, and schools, with easy access to major transportation arteries, including the 210 and 10 freeways and the Covina Metrolink Station. This sought-after location provides investors with the prospect of acquiring a lucrative multifamily asset poised to generate substantial cash flow while offering a hedge against inflation in the thriving city of Covina.
Located just a few blocks from downtown Covina, this property offers an excellent and highly desirable location. The property is in very good condition and has been well maintained, with units that are ready for immediate lease or rental. The community features a gated swimming pool for added safety and enjoyment, along with two contemporary garden-style buildings that provide a pleasant residential setting. An on-site property manager adds convenience and ensures smooth day-to-day operations.
Newly remodeled house has permited ADU and a JADU, both are attached to the main house. The JADU was converted from garage with one bedroom, one bath and one kitchen. The ADU is in the rear with one bedroom, one bath and one kitchen. Existing main house has 3 bedroom and one bath. The living area is 2,063SF in total.
Covina is located in California. Covina, California has a population of 51,061. Covina is more family-centric than the surrounding county with 31.19% of the households containing married families with children. The county average for households married with children is 30.99%.
The median household income in Covina, California is $81,570. The median household income for the surrounding county is $76,367 compared to the national median of $69,021. The median age of people living in Covina is 37.6 years.
The average high temperature in July is 87.9 degrees, with an average low temperature in January of 43.8 degrees. The average rainfall is approximately 18.3 inches per year, with 0 inches of snow per year.
