This is a 4-units apartment complex located in the City of Covina. The property is a two-story building situated on a cul-de-sac street with 7,300 square feet lot. The property offers an excellent unit mix consisting of 2 bedrooms plus 1 bathroom with long term tenants. The property is separately metered for electricity and gas and has a shared laundry facility. Each unit has it’s spacious 2 bedroom and 1 bathroom with window A/Cs, private patio area for 1st floor units, and ceiling fans. The parking is provided through an attached garage with 4 secured parking spaces. Tenants can also park in tandem which provides total of 8 parking spaces. The property is located in the heart of Covina with great access to the different freeways, which are FWY 210, 57, 10, and freeway 605. Also, the property is within minutes to major amenities such as parks, schools, library, shopping centers, and public transportations. Azusa Pacific University is located North of the property and is accessible within minutes.
Great opportunity to purchase a 14 unit apartment building near downtown Covina. The building offers eight 2-bedroom/1-bathroom units and six 1-bedroom/1-bathroom units. The exterior has been recently and completely repainted, and the parking and asphalt areas have been fully redone. The property features manicured grounds with a spacious interior courtyard for residents to enjoy. One of the two-bedroom units is completely remodeled and currently unrented, with an estimated rental income of $2,200 per month. The remaining seven two-bedroom units are currently rented at $1,400 per month, and the one-bedroom units are rented at $1,240 per month. The current gross income is $239,520, and with rent increases due in May, this will rise to $257,725.44. The operating income, factoring in the new property taxes at a rate of 1.25%, will be $69,225.60. Calculating with a 3% vacancy rate, the cap rate for this building is currently at 4.4%, which, with the upcoming rent increases in May, will increase to 4.9%.
We are pleased to present 1033 W Cypress St, a well-maintained 6-unit multifamily property in Covina, California. This prime investment opportunity offers stable tenancy in the sought-after Southern California rental market. Built in 1963, this two-story building features a desirable unit mix, including one studio, two 1-bedroom/1-bath units, and three 2-bedroom/1.5-bath units. The property offers amenities such as an on-site laundry facility, covered parking, and individual gas and electricity meters for each unit. Additionally, all units are equipped with wall-mounted air conditioning, and most have undergone significant upgrades. The property benefits from a solid tenant base, with current rents below market levels, providing great rental upside. With no local rent control in Covina, investors can capitalize on the ability to implement rent increases in line with California AB1482 guidelines. Strategically located, the property is across from Northview High School and within walking distance to other local schools. Tenants enjoy easy access to Covina's charming downtown, which offers a variety of restaurants, shops, and entertainment options. The property is also close to the Covina Metrolink station and major thoroughfares, including the 10 and 210 freeways, providing convenient commutes. This offering presents a rare opportunity to acquire a stable, income-producing asset with significant potential for rental growth and long-term appreciation in one of Southern California's resilient rental markets.
THE EXISTING ASSUMABLE LOAN FIXED at 3.07% Until October 2026 We are pleased to exclusively present the opportunity to acquire Cypress Villa, located at 19529 East Cypress Street in unincorporated Los Angeles County, California. Cypress Villa is conveniently located near the signalized intersection of East Cypress Street and Grand Avenue. Constructed in 1984, the 11-unit multifamily investment property is situated on a 16,419 square feet rectangular parcel with a building area of 9,207 square feet. The property consists of eleven two-bedroom/one-bathroom floor plans and features an on-site laundry room, copper plumbing, central water heater, and central air conditioning and heating. For parking, there are eleven tuck-under parking spaces with storage units, six carport parking spaces, and five open space parking spaces (Two parking spaces per unit). The majority of windows have been upgraded with new dual-pane windows. Selected kitchens and bathrooms were recently renovated. All units are individually metered for gas and electricity. Unincorporated Los Angeles County has their own rent control (Buyer to verify). Cypress Villa is ideally situated with easy access to Interstate 210, 10 and CA 57 freeways. With its central location and proximity to Downtown Los Angeles, the city is well served by the Metrolink Covina Station, providing its residents with many alternative ways of traveling to work, dining, shopping, and other amenities. With a very walkable score of 74 out of 100, the apartment building is within walking distance of several outdoor shopping malls with major department and grocery stores including Stater Bros Markets, Dollar Tree, and Vons. In addition, there are multiple private and public schools within a two-mile radius of the subject property such as Cedargrove Elementary School, Sonrise Christrian School, Royal Oak Middle School, and Charter Oak High School, thus attracting valuable long-term tenants. Residents can also enjoy a quick walk to Kahler Russell Park, that offers basketball and tennis courts, sports fields, playground, walking trails and more. Last but not least, the Via Verde Country Club is just a six-minute drive east of the offering. Nestled amongst the rolling Via Verde Hills, this private country club offers a picturesque view of the San Gabriel Mountains and captures the spirit of the community through exceptional golf, outstanding events, a warm atmosphere and panoramic views of Southern California.
***SELLER FINANCING AVAILABLE*** Wonderful Opportunity for Investor to Acquire Pride of Ownership Property! Built in 1992 and Featuring 2 - 2 Bedroom, 2 Bath Units and 2 - 2 Bedroom, 1 Bath Units, All with 2 Car Garages & Automatic Roll-up Doors! Each Unit Includes Large Living Room, Dining Area and Spacious Kitchens Complete with Stoves, Dishwashers, Microwaves & Garbage Disposals! Central Heat & Air Conditioning, Coin Laundry Room, Newer Water Heaters & Kitchen Faucets! Newer Whitewash Oak Laminate Flooring! All Units Include Dual Pane Windows, Balconies or Rear Yard Patios, Window Treatments & Mirrored Wardrobe Doors! The Property is Professionally Landscaped with Block Walls, Wrought Iron Gates & Automatic Sprinklers! Pitched Tile Roofs, Fire Sprinkler System, Rain Gutters, New Front Concrete Driveway and Individually Metered for Gas & Electricity! Excellent Location and Within Walking Distance of Downtown Covina, Restaurants, Entertainment, Hospital, the Metrolink Station, Schools, Parks, Churches, Shopping and More!!!
Great large lot with two houses, 9951 sq ft. Perfect for those looking for a residential income or large families that want to live together on the property. Front house has 2 bedrooms and 1 bath, and the back house has 3 bedrooms and 2 bath. Property has a long driveway leading to the carport in the back able to fit four cars, and many more along the driveway. Also has a metal gate to keep the house private. House conveniently located near the major streets, Arrow Hwy and Grand Ave.
Price improvement motivated seller bring all offers. 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. Offered on the market for the first time in over 20 years, the majority of the units have been renovated by the owner. Current rents are significantly below market, providing over 25% upside on rents. Additionally, there is potential for extra rental income by adding accessory dwelling units (ADU), 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 located 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.
THE SELLER WILL FINANCE THE PROPERTY. We are pleased to exclusively present the opportunity to acquire 211 East Center Street, a 6-unit multifamily investment property located in the heart of Covina, California. The property is conveniently situated on the northeast corner of East Center Street and South Second Avenue, a quick three-minute walk to Downtown Covina. Constructed in 1962, the property is situated on a 10,504 square feet parcel with a total building area of 4,152 square feet. The single-story property consists of three separate buildings with six one-bedroom/one-bathroom floor plans. The buildings offer two enclosed carports in the front, six single-car garages with new garage doors accessible via rear alley, an on-site laundry room, and new external electrical panels. The selected unit has been renovated with laminated hardwood flooring and freshly painted interiors. All units are individually metered for gas and electricity, and all units have individual hot water heaters. The offering is ideally located in a stable residential neighborhood just a mile north of Interstate 10 Freeway, providing residents with easy access to cities in San Gabriel Valley and Inland Empire. The property has convenient access to major retail and department stores such as Target, IKEA, Sprouts, Office Depot, and Marshalls. Multiple schools are within a one-mile radius of the subject property, including Cypress Elementary School, Sierra Vista Middle School, and Covina High School, attracting long-term residents. The Covina-Valley Unified School District was recently presented with the California Gold Ribbon Schools Award, ranked the Best Elementary Schools by U.S. News and World Report, and awarded the Golden Bell Winner by the California School Boards Association. For higher education, both Mt. San Antonio College and California State Polytechnic University are a short ten-minutes’ drive away from the subject property. Ranked the top 3% of community colleges in the country, Mt. San Antonio College is a public community college that offers more than 400 degree and certificate programs, 36 support programs, and more than 50 student clubs and athletic programs. Situated on more than 1,700 acres of land, Cal Poly Pomona is one of three polytechnic universities in the California State University system devoted primarily to the instruction of technical arts and applied sciences.
Courtesy: MARCUS & MILLICHAP
***PRICE IMPROVED*** We are pleased to present the rare opportunity to acquire a garden style 24-unit multi-family investment in Covina, California. Located at 826 North Barranca Avenue, the subject property is part of the portfolio of The Bahamas Apartment. This multi-family Asset is in a market with solid demographics and unique accessibility to major employment hubs, easy to access freeway I-10 and I-210, close to downtown Covina. The property is within minutes to essential city frequented locations—Costco, Walmart Supercenter, Home Depot, Plaza West Covina, Ikea, Azusa Pacific University, Citrus College, Cal Poly Pomona, and Kaiser Permanente Baldwin Park Medical Center. The spacious unit mix consists of studio, one-bedroom, Two-bedroom and Four-bedroom units with large floor plan, patio, Central AC. This property portfolio offers value-add opportunity for investors to invest in a prime asset with well-maintained condition. Two Units are nonconforming units (1 Studio and 1 one becroom unit). Investor has opportunity to legalize those unit and potentially add ADU. Buyer to verify. Ideal for exchange with potential upside on rent. The property will be delivered free and clear.
Courtesy: Boulder Realty Inc
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.
