Covina, CA 91723,654 E Ruddock ST
Covina, CA 91723,654 E Ruddock ST
Covina, CA 91723,654 E Ruddock ST
Covina, CA 91723,654 E Ruddock ST
Covina, CA 91723,654 E Ruddock ST
Covina, CA 91723,654 E Ruddock ST
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$1,625,000

$1,575,000

3.2%
Est.Price: ?

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Est. payment /mo

8,150 Sqft Lot


SOLD DATE : 05/15/2024

Key Details

Sold Price $1,625,000

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

MLS Listing ID CV24065005

Sold Date 05/15/24

HOA Y/N No

Year Built 1962

Lot Size 8,150 Sqft

Property Description

JUST REDUCED! MOTIVATED SELLER! We are pleased to offer for sale this prime 6 unit multi-family investment nestled in the heart of the city of Covina. Priced at a 5% CAP Rate and 12.85 GRM (with about 30% upside in rental income) the subject property features a compelling unit mix of a Two-Story Townhouse with 2 Bedrooms/1.5 bathrooms, alongside five additional 2-Bedroom/1-Bathroom units. Spanning 6,375 square feet of rental space on an 8,148 square foot lot, the property has been thoughtfully designed to meet the needs of modern living. Each unit is separately metered for electricity and gas, providing ease of utility management and cost efficiency. Tenants are afforded the convenience of covered car-port parking and an onsite laundry facility, adding to the appeal of these units. Located just minutes from the vibrant "Downtown" Covina area, residents have easy access to a variety of shops, restaurants, and entertainment options, enhancing the rental attractiveness of this property. Perhaps most notably, this investment offers a significant opportunity for revenue growth, with a potential 30% upside in rental income. This combination of location, quality, and income potential makes this Covina property an enticing option for investors looking to expand their portfolio in a desirable market.

Location

State CA

County Los Angeles

Area 614 - Covina

Zoning CVRD2000*

Interior

Fireplace No

Laundry Common Area, Inside

Exterior

Carport Spaces 6

Pool None

Community Features Curbs, Gutter(s), Sidewalks

Total Parking Spaces 6

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 8429033014

Energy Description 2640.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Financing Cash

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Kristopher German • RE/MAX 2000 REALTY • 909-645-0443
Bought with Kristopher German • RE/MAX 2000 REALTY
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