Pending
654 E Ruddock Street
Covina CA, 91723
$1,575,000
$247.06 per sqft
Pending
6,375 sqft
Condo
Built in 1962
Listed by Kristopher German with RE/MAX 2000 REALTY 626-956-0188
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.
CV24065005
MLSⓇ ID
April 2, 2024
Listed
May 2, 2024
Updated
Map
654 E Ruddock Street
Covina CA, 91723
Interior Features
Total Stories
2
Laundry Description
Common Area, Inside
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.19 Acres
Lot Features
6-10 Units/Acre
Sewer
Public Sewer
Other Property Details
Area Name
614 - Covina
Days on Market
28
Garage
No
Parking Total
6
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
CVRD2000*
Buyer Agency Compensation
2.5%
Listing History
Date | Event | Price |
---|---|---|
5/2/2024 | Pending | — |
Listing Contact: 626-956-0188
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/2/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 5/2/2024 at 6:41 PM UTC