For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $1,990,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV23113471
Sold Date 08/01/23
Bedrooms 12
HOA Y/N No
Lot Size 7,780 Sqft
Property Description
We are pleased to offer for sale this 6 unit, one of a kind, multi-family investment property in the city of Covina. The subject property is comprised of 5 two-story townhouse style units and one traditional apartment unit. The unit mix consists of 1(3Bed/2.5Bath) Town-House Owners Unit, 3(3Bed/1.5Bath) Town-Houses, 1(2Bed/1.5Bath) Town-House, 1(2Bed/1.5Bath) unit. Tenants enjoy an onsite laundry facility and covered car-port parking. The current owner has kept the rents quite modest for the area allowing a new investor the ability to substantially improve the subject property and increase the rental rates by as much as 60+%. By repositioning the property, a new investor can realize an 8+% cash on cash return when utilizing the private seller financing available. Private seller financing terms: 30% Down Payment, 6.5% Interest Only Payments, Due and Payable in 5 years.
We are pleased to offer for sale this 6 unit, one of a kind, multi-family investment property in the city of Covina. The subject property is comprised of 5 two-story townhouse style units and one traditional apartment unit. The unit mix consists of 1(3Bed/2.5Bath) Town-House Owners Unit, 3(3Bed/1.5Bath) Town-Houses, 1(2Bed/1.5Bath) Town-House, 1(2Bed/1.5Bath) unit. Tenants enjoy an onsite laundry facility and covered car-port parking. The current owner has kept the rents quite modest for the area allowing a new investor the ability to substantially improve the subject property and increase the rental rates by as much as 60+%. By repositioning the property, a new investor can realize an 8+% cash on cash return when utilizing the private seller financing available. Private seller financing terms: 30% Down Payment, 6.5% Interest Only Payments, Due and Payable in 5 years.
Location
State CA
County Los Angeles
Area Covina (91723)
Zoning Assessor
Exterior
Garage Unit1:Assigned
Building
Lot Description Sidewalks
Story 2
Lot Size Range 7500-10889 SF
Others
Monthly Total Fees $213
Space Rent $2,450
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Kristopher German • RE/MAX 2000 REALTY