654 E Ruddock Street, Covina, California 91723
  • $1,575,000
  • $1,625,000

Overview

Property ID: CV24065005
  • Apartment, Residential Income
  • Property Type
  • 6375 Sqft
  • Area Size
  • 1962
  • Year Built

Description

JUST REDUCED! MOTIVATED SELLER! We are pleased to offer for sale this prime 6 unit multi-family investment nestled in the heart of the city of Covina. Priced at a 5% CAP Rate and 12.85 GRM (with about 30% upside in rental income) the subject property features a compelling unit mix of a Two-Story Townhouse with 2 Bedrooms/1.5 bathrooms, alongside five additional 2-Bedroom/1-Bathroom units. Spanning 6, 375 square feet of rental space on an 8, 148 square foot lot, the property has been thoughtfully designed to meet the needs of modern living. Each unit is separately metered for electricity and gas, providing ease of utility management and cost efficiency. Tenants are afforded the convenience of covered car-port parking and an onsite laundry facility, adding to the appeal of these units. Located just minutes from the vibrant “Downtown” Covina area, residents have easy access to a variety of shops, restaurants, and entertainment options, enhancing the rental attractiveness of this property. Perhaps most notably, this investment offers a significant opportunity for revenue growth, with a potential 30% upside in rental income. This combination of location, quality, and income potential makes this Covina property an enticing option for investors looking to expand their portfolio in a desirable market.

  • Address: 654 E Ruddock Street
  • City: Covina
  • State/county: CA
  • Zip/Postal Code: 91723
  • Country: US

Details

Updated on May 15, 2024 at 9:22 pm
  • Property ID CV24065005
  • Price $1,575,000
  • Property Size 6375 Sqft
  • Land Area 0.1871 Acres
  • Year Built 1962
  • Property Type Apartment, Residential Income
  • Property Status Closed

Additional details

  • Listing Terms Cash, Cash to New Loan
  • Sewer Public Sewer
  • County Los Angeles
  • Property Type Residential Income
  • Pool None
  • Community Features Curbs, Gutter(s), Sidewalks

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