Covina, CA 91723,544 South 1st Avenue
Covina, CA 91723,544 South 1st Avenue
Covina, CA 91723,544 South 1st Avenue
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Listed by Kristopher German • RE/MAX 2000 REALTY
$1,200,000
Est. payment /mo
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544 South 1st Avenue Covina, CA 91723

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Melissa Paolasso

Melissa Paolasso

Real Brokerage Technologies

+1(949) 463-7024

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 3,788 sqft

Price per Sqft $316

MLS Listing ID CV-25040761

Year Built 1962

Lot Size 7,827 Sqft

Property Description

Probate Sale! 5 Units in Covina! We are pleased to exclusively offer for sale this value-add opportunity which is comprised of of two (2-Bedroom/1-Bathroom) units and three (1-Bedroom/1-Bathroom) units, totaling 3,788 rental square feet on a 7,827 square foot lot. This asset provides desirable tenant amenities including an onsite laundry facility and covered car-port parking, enhancing the living experience and convenience for residents. Each unit is individually metered for electricity (all electric building), offering efficiency in utility management while the owner covers the water and trash expenses. Notably, three of the units will be delivered vacant, presenting an immediate opportunity to adjust rental rates to current market levels. The property boasts a potential 6.78% market CAP Rate and an 10.67 market Gross Rent Multiplier (GRM), illustrating its profitability and appeal as an investment. This probate sale requires court confirmation and is to be sold in "as-is" condition. Importantly, no loan contingency is allowed and the terms stipulate the need to close escrow in 30 days or less. This property represents a prime investment with significant upside potential in a sought-after Covina location.

Location

State CA

County Los Angeles

Zoning CVR3-RD1250*

Interior

Heating Central

Cooling Wall/Window Unit(s)

Fireplaces Type None

Laundry Common Area

Exterior

Parking Features Attached Carport

Pool None

Community Features Street Lights

Utilities Available Sewer Available, Water Available, Electricity Available

View Y/N No

View None

Building

Lot Description 0-1 Unit/Acre

Sewer Public Sewer


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Melissa Paolasso

Agent | License ID: 02062934

+1(949) 463-7024

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544 South 1st Avenue