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211 E Center Street

Covina, CA 91723
  • $1,695,000
  • STATUS: ACTIVE
  • ON SITE: 82 Days
  • ID#: CV24166646
Price Reduced
UPDATED: 50 min ago
$1,695,000
  • 1
    BEDS
  • 0.24
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

THE SELLER WILL FINANCE THE PROPERTY. We are pleased to exclusively present the opportunity to acquire 211 East Center Street, a 6-unit multifamily investment property located in the heart of Covina, California. The property is conveniently situated on the northeast corner of East Center Street and South Second Avenue, a quick three-minute walk to Downtown Covina. Constructed in 1962, the property is situated on a 10,504 square feet parcel with a total building area of 4,152 square feet. The single-story property consists of three separate buildings with six one-bedroom/one-bathroom floor plans. The buildings offer two enclosed carports in the front, six single-car garages with new garage doors accessible via rear alley, an on-site laundry room, and new external electrical panels. The selected unit has been renovated with laminated hardwood flooring and freshly painted interiors. All units are individually metered for gas and electricity, and all units have individual hot water heaters. The offering is ideally located in a stable residential neighborhood just a mile north of Interstate 10 Freeway, providing residents with easy access to cities in San Gabriel Valley and Inland Empire. The property has convenient access to major retail and department stores such as Target, IKEA, Sprouts, Office Depot, and Marshalls. Multiple schools are within a one-mile radius of the subject property, including Cypress Elementary School, Sierra Vista Middle School, and Covina High School, attracting long-term residents. The Covina-Valley Unified School District was recently presented with th THE SELLER WILL FINANCE THE PROPERTY. We are pleased to exclusively present the opportunity to acquire 211 East Center Street, a 6-unit multifamily investment property located in the heart of Covina, California. The property is conveniently situated on the northeast corner of East Center Street and South Second Avenue, a quick three-minute walk to Downtown Covina. Constructed in 1962, the property is situated on a 10,504 square feet parcel with a total building area of 4,152 square feet. The single-story property consists of three separate buildings with six one-bedroom/one-bathroom floor plans. The buildings offer two enclosed carports in the front, six single-car garages with new garage doors accessible via rear alley, an on-site laundry room, and new external electrical panels. The selected unit has been renovated with laminated hardwood flooring and freshly painted interiors. All units are individually metered for gas and electricity, and all units have individual hot water heaters. The offering is ideally located in a stable residential neighborhood just a mile north of Interstate 10 Freeway, providing residents with easy access to cities in San Gabriel Valley and Inland Empire. The property has convenient access to major retail and department stores such as Target, IKEA, Sprouts, Office Depot, and Marshalls. Multiple schools are within a one-mile radius of the subject property, including Cypress Elementary School, Sierra Vista Middle School, and Covina High School, attracting long-term residents. The Covina-Valley Unified School District was recently presented with the California Gold Ribbon Schools Award, ranked the Best Elementary Schools by U.S. News and World Report, and awarded the Golden Bell Winner by the California School Boards Association. For higher education, both Mt. San Antonio College and California State Polytechnic University are a short ten-minutes drive away from the subject property. Ranked the top 3% of community colleges in the country, Mt. San Antonio College is a public community college that offers more than 400 degree and certificate programs, 36 support programs, and more than 50 student clubs and athletic programs. Situated on more than 1,700 acres of land, Cal Poly Pomona is one of three polytechnic universities in the California State University system devoted primarily to the instruction of technical arts and applied sciences.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
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211 E Center Street Covina, CA 91723

  • Price: $1,695,000
  • Status: ACTIVE
  • On Site: 82 Days
  • Updated: 50 min ago
  • ID#: CV24166646
1
Beds
0
Baths
0
½ Baths
0.24
Acres
Neighborhood:
Covina (91723)
County:
Los Angeles
Area:
Covina (91723)
Property Description
THE SELLER WILL FINANCE THE PROPERTY. We are pleased to exclusively present the opportunity to acquire 211 East Center Street, a 6-unit multifamily investment property located in the heart of Covina, California. The property is conveniently situated on the northeast corner of East Center Street and South Second Avenue, a quick three-minute walk to Downtown Covina. Constructed in 1962, the property is situated on a 10,504 square feet parcel with a total building area of 4,152 square feet. The single-story property consists of three separate buildings with six one-bedroom/one-bathroom floor plans. The buildings offer two enclosed carports in the front, six single-car garages with new garage doors accessible via rear alley, an on-site laundry room, and new external electrical panels. The selected unit has been renovated with laminated hardwood flooring and freshly painted interiors. All units are individually metered for gas and electricity, and all units have individual hot water heaters. The offering is ideally located in a stable residential neighborhood just a mile north of Interstate 10 Freeway, providing residents with easy access to cities in San Gabriel Valley and Inland Empire. The property has convenient access to major retail and department stores such as Target, IKEA, Sprouts, Office Depot, and Marshalls. Multiple schools are within a one-mile radius of the subject property, including Cypress Elementary School, Sierra Vista Middle School, and Covina High School, attracting long-term residents. The Covina-Valley Unified School District was recently presented with th THE SELLER WILL FINANCE THE PROPERTY. We are pleased to exclusively present the opportunity to acquire 211 East Center Street, a 6-unit multifamily investment property located in the heart of Covina, California. The property is conveniently situated on the northeast corner of East Center Street and South Second Avenue, a quick three-minute walk to Downtown Covina. Constructed in 1962, the property is situated on a 10,504 square feet parcel with a total building area of 4,152 square feet. The single-story property consists of three separate buildings with six one-bedroom/one-bathroom floor plans. The buildings offer two enclosed carports in the front, six single-car garages with new garage doors accessible via rear alley, an on-site laundry room, and new external electrical panels. The selected unit has been renovated with laminated hardwood flooring and freshly painted interiors. All units are individually metered for gas and electricity, and all units have individual hot water heaters. The offering is ideally located in a stable residential neighborhood just a mile north of Interstate 10 Freeway, providing residents with easy access to cities in San Gabriel Valley and Inland Empire. The property has convenient access to major retail and department stores such as Target, IKEA, Sprouts, Office Depot, and Marshalls. Multiple schools are within a one-mile radius of the subject property, including Cypress Elementary School, Sierra Vista Middle School, and Covina High School, attracting long-term residents. The Covina-Valley Unified School District was recently presented with the California Gold Ribbon Schools Award, ranked the Best Elementary Schools by U.S. News and World Report, and awarded the Golden Bell Winner by the California School Boards Association. For higher education, both Mt. San Antonio College and California State Polytechnic University are a short ten-minutes drive away from the subject property. Ranked the top 3% of community colleges in the country, Mt. San Antonio College is a public community college that offers more than 400 degree and certificate programs, 36 support programs, and more than 50 student clubs and athletic programs. Situated on more than 1,700 acres of land, Cal Poly Pomona is one of three polytechnic universities in the California State University system devoted primarily to the instruction of technical arts and applied sciences.
Exterior Features

Pool N/K Site Corner LotSidewalks

Interior Features

Total Baths Unit1 1

Property Features

Actual Cap Rate 4.9 Annual Expense Actual 40327 Buildings 3 Cfd Mello Roos Fee 0.0 Cfd Mello Roos Fee Reflects Year Gross Rent Multiplier Actual 13.8 Gross Scheduled Income Actual 122856 Terms CashSeller May Carry Unit Number For Unit1 1 Unit1 Rent Actual 1706.0 Zoning Other

San Diego MLS logo Listing provided courtesy of Douglas Mccauley of MARCUS & MILLICHAP: 626-695-6776. Listing information © 2024 San Diego MLS Inc. Source: CRMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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Steven G. Fraioli & Associates
13176 Midbluff Ave
San Diego CA, 92128