$1,200,000
$1,200,000
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8,407 Sqft Lot
SOLD DATE : 04/02/2024
Key Details
Sold Price $1,200,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV24027715
Sold Date 04/02/24
HOA Y/N No
Year Built 1958
Lot Size 8,407 Sqft
Property Description
We are pleased to exclusively offer for sale a prime investment opportunity located in the city of Covina offering a unit mix of four spacious 2-Bed/1-Bath units. This property boasts ample onsite carport and open-space parking, enhancing tenant convenience. An added benefit is the onsite coin-operated laundry facility, contributing to both tenant satisfaction and additional revenue. Significant capital improvements have been made to increase the property's value and appeal. A new roof was installed in 2022, interior upgrades include; new kitchens, bathrooms, and flooring in most units, reflecting modern tastes and standards. Furthermore, two units have been upgraded with copper piping, emphasizing the commitment to quality infrastructure. Situated in an excellent rental location, the property offers easy access to transportation and shopping, ensuring sustained tenant demand. This investment opportunity offers 35% upside in rental income for a savvy investor familiar with repositioning tenancy. The property is currently tenant occupied (all units) and will be sold with the tenants in place.
Location
State CA
County Los Angeles
Area 614 - Covina
Zoning CVR3-RD1250*
Interior
Fireplace No
Laundry Common Area
Exterior
Carport Spaces 5
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 9
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 8429027008
Energy Description 960.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Kristopher German • RE/MAX 2000 REALTY
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "