$1,312,500
$1,475,000
11.0%For more information regarding the value of a property, please contact us for a free consultation.
7,479 Sqft Lot
SOLD DATE : 07/11/2024
Key Details
Sold Price $1,312,500
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID AR24096337
Sold Date 07/11/24
HOA Y/N No
Year Built 1962
Lot Size 7,479 Sqft
Property Description
Welcome to 637 E. Ruddock St., a remarkable 6-unit multifamily property nestled in the heart of Covina, CA. Boasting a diverse mix of residences including one 1Bed+BBath, four 2Bed+1Bath, and one 2Bed+2Bath units, along with six convenient tuck-under parking spaces, this property is an exceptional investment opportunity.
Priced attractively at the lowest price per unit ($245,000) and boasting a favorable GRM (13.33), this property presents undeniable value and significant upside potential in Covina's dynamic real estate market.
Spanning 5,102 square feet of rental space on a spacious 7,476 square foot lot, this meticulously designed property caters to the demands of modern living. Each unit is equipped with separate meters for electricity and gas, ensuring streamlined utility management and cost efficiency for both landlord and tenants alike.
Residents will appreciate the added conveniences of on-site laundry facilities and easily accessible alley access parking, enhancing the overall appeal of the property.
Situated mere minutes away from the bustling "Downtown" Covina area, tenants enjoy effortless access to an array of shopping, dining, and entertainment options, further elevating the desirability of this investment.
Don't miss out on this prime opportunity to own a lucrative piece of Covina's real estate landscape. Schedule your viewing today and secure your foothold in this thriving market.
Location
State CA
County Los Angeles
Area 614 - Covina
Zoning CVRD2000*
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Assigned
Carport Spaces 6
Pool None
Community Features Urban
Total Parking Spaces 6
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 8429012025
Energy Description 3212.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with Matt Cuong Ly • Coldwell Banker Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "