Seller Financing Available! Just listed in the highly desirable city of Covina, this 12-unit multi-family investment presents an outstanding opportunity with a REAL 6.3% cash-on-cash return. Featuring a strong unit mix of 1 LARGE 2-Bedroom/2-Bath unit, and 11 well-maintained 1-Bedroom/1-Bath units, the property spans 8,673 rentable square feet on a… Read More 15,733 square foot lot. Current financials boast a 5.75% CAP Rate and a 12 GRM, making this a solid performer from day one. Tenants enjoy desirable amenities including covered parking, a sparkling gated pool, and onsite laundry facilities, contributing to high tenant retention. The property offers 20 total parking spaces and most units feature updated interiors, reflecting pride of ownership throughout. Located near Downtown Covina, with easy access to restaurants, major retailers, and public transportation, the property is perfectly situated in a high-demand rental corridor. For qualified buyers, seller financing is available with just 30% down, 5.5% interest-only payments, and due and payable in 5-years, offering a rare opportunity to acquire a stabilized asset with attractive financing terms. Read Less
Listing Snapshot
Days Online
6
Last Updated
Property Type
Apartment
Lot Size
0.36 Acres
Year Built
1964
MLS Number
CV25154872
30 Days Snapshot Of 91723
$800k
+4%
(avg) sold price
8
+60%
homes sold
60
-38%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road surface type: Paved
Building
Built in 1964, Building area total: 8,673, Levels: One, Two, 1 story, 1 building, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
StreetLights, Sidewalks
Cooling
WallWindowUnits
Expenses
Electric expense: $780, Fuel expense: $1,800, Gardener expense: $600, Insurance expense: $12,000, Maintenance expense: $9,000, New taxes expense: $38,075, Operating expense: $74,387, Pool expense: $1,680, Trash expense: $4,932, Water sewer expense: $3,120
Fence
Block
Fireplaces
None
Income
Gross income: $22,140, Net operating income: $186,814
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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