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224 N Vecino Drive

Covina, CA 91723
  • $1,200,000
  • STATUS: Pending
  • ON SITE: 22 Days
  • ID#: CV24027715
Pending
UPDATED: 127 min ago
$1,200,000
  • 0
    BEDS
  • 0.19
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1958
County:
Area:

School Ratings & Info

Listing Agent(s): Kristopher German of RE/MAX 2000 REALTY (626-956-0188)


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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-03-02T00:30:35.017. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Rusnell Real Estate Group | Vista Sotheby's. Licensed in the State of California, USA.
www.rusnellproperties.com/homes/147392353
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224 N Vecino Drive Covina, CA 91723

  • Price: $1,200,000
  • Status: Pending
  • On Site: 22 Days
  • Updated: 127 min ago
  • ID#: CV24027715
0
Beds
0
Baths
0
½ Baths
0.19
Acres
1958
Built
Neighborhood:
614 - Covina
County:
Los Angeles
Area:
614 - Covina
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.
Exterior Features

Carport Spaces 5 Carport YN Yes Entry Level 1 Entry Location 1 Lot Features 2-5 Units/Acre Number Of Separate Electric Meters 4 Open Parking Spaces 4 Parking Total 9 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Common Interest Community Apartment Community Features CurbsGutter(s)Sidewalks Electric Expense 1200 Fuel Expense 960 Garage YN No Gross Income 77160 Gross Scheduled Income 77160 Insurance Expense 2500 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Maintenance Expense 3000 Net Operating Income 48843 New Construction YN No New Taxes Expense 14059 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Number Of Units Leased 4 Operating Expense 26003 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 6300 Trash Expense 2142 Vacancy Allowance 2315 Water Sewer Expense 2142 Water Source Public Zoning CVR3-RD1250*



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-03-02T00:30:35.017. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Rusnell Real Estate Group | Vista Sotheby's. Licensed in the State of California, USA.
 
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Rusnell Real Estate Group | Vista Sotheby's
16 Malaga Cove Plaza
Palos Verdes Estates CA, 90274
Listing Agent(s): Kristopher German of RE/MAX 2000 REALTY (626-956-0188)