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1033 Cypress Street, Covina, CA 91722
Priced at Only: $2,200,000
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Mobile: 714.478.6676
Address: 1033 Cypress Street, Covina, CA 91722
Property Photos
Property Location and Similar Properties
- MLS#: 24459205 ( )
- Street Address: 1033 Cypress Street
- Viewed: 11
- Price: $2,200,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1963
- Bldg sqft: 0
- Days On Market: 55
- Additional Information
- County: LOS ANGELES
- City: Covina
- Zipcode: 91722
- Provided by: Colliers International Greater Los Angel
- Contact: Edward Edward
- DMCA Notice
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DescriptionWe are pleased to present 1033 W Cypress St, a well maintained 6 unit multifamily property in Covina, California. This prime investment opportunity offers stable tenancy in the sought after Southern California rental market. Built in 1963, this two story building features a desirable unit mix, including one studio, two 1 bedroom/1 bath units, and three 2 bedroom/1.5 bath units. The property offers amenities such as an on site laundry facility, covered parking, and individual gas and electricity meters for each unit. Additionally, all units are equipped with wall mounted air conditioning, and most have undergone significant upgrades. The property benefits from a solid tenant base, with current rents below market levels, providing great rental upside. With no local rent control in Covina, investors can capitalize on the ability to implement rent increases in line with California AB1482 guidelines. Strategically located, the property is across from Northview High School and within walking distance to other local schools. Tenants enjoy easy access to Covina's charming downtown, which offers a variety of restaurants, shops, and entertainment options. The property is also close to the Covina Metrolink station and major thoroughfares, including the 10 and 210 freeways, providing convenient commutes. This offering presents a rare opportunity to acquire a stable, income producing asset with significant potential for rental growth and long term appreciation in one of Southern California's resilient rental markets.
Features
Appliances
- Microwave
Building Area Total
- 5133.00
Country
- US
Heating
- Forced Air
Laundry Income
- 600.00
Levels
- Two
Netoperatingincome
- 84964.00
Parcel Number
- 8420014052
Parking Features
- Carport
Postalcodeplus4
- 3149
Sourcesystemkey
- 24-459205:CLAW
Totalexpenses
- 52231.00
Views
- 11
Year Built
- 1963
Zoning
- LCR3*
- Xavier Gomez, BrkrAssc,CDPE
- RE/MAX College Park Realty
- BRE 01736488
- Mobile: 714.478.6676
- Fax: 714.975.9953
- salesbyxavier@gmail.com