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Key Details
Sold Price $1,200,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV24027715
Sold Date 04/02/24
Bedrooms 8
HOA Y/N No
Lot Size 8,406 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.
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 Covina (91723)
Zoning Assessor
Building
Lot Description Curbs, Sidewalks
Story 2
Lot Size Range 7500-10889 SF
Others
Monthly Total Fees $122
Acceptable Financing Cash
Space Rent $1,650
Listing Terms Cash
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Kobe Zimmerman
Berkshire Hathaway Home Services California Properties
kobezimmerman@bhhscalifornia.com +1(858) 753-3353Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Kristopher German • RE/MAX 2000 REALTY