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Key Details
Sold Price $2,023,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,308 sqft
Price per Sqft $381
MLS Listing ID 23293691
Sold Date 09/08/23
Bedrooms 12
HOA Y/N No
Year Built 1961
Lot Size 7,078 Sqft
Property Description
We are pleased to present this great investment opportunity that is available for sale for the first time in 15 years! A 7 unit apartment in the high demand rental area of West Covina. This property consists of spacious 1, 2 and 3 bedroom units and is situated within a short distance to many shopping and dining at the Plaza West Covina. With many recent upgrades in select units, this cash-flowing investment brings in a 4.68% Cap Rate on current rents yet still has value add opportunity that any investor can take advantage of. All units are separately metered for gas and electricity with separate water heaters for each unit. The tenants enjoy the convenience of having an on-site laundry room with the property having secured entry and on-site parking. The property is only subject to statewide AB1482 rent ordinance which is currently at 8.8%. The quick access to the 10 freeway and nearby amenities, this location scores an 85 Walk Score giving it a Very Walkable Area. Call now for more details.
Location
State CA
County Los Angeles
Area 669 - West Covina
Zoning WCR3-MF20*
Interior
Heating Fireplace(s)
Fireplace No
Appliance Dishwasher
Laundry Laundry Room
Exterior
Parking Features Carport, Uncovered
Carport Spaces 2
Total Parking Spaces 7
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 8476010005
Special Listing Condition Standard
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Bought with Tzu-ning Chang • Keller Williams Realty