Pending
1171 W Badillo Street
Covina CA, 91722
$3,975,000
$322.86 per sqft
Pending
12,312 sqft
Condo
Built in 1985
Listed by Kristopher German with RE/MAX 2000 REALTY 909-645-0443
We are pleased to exclusively offer for sale this unique investment opportunity in the city of Covina featuring all Two-Story Townhouse style units. Constructed in 1985 and well-maintained over time, each town-house is thoughtfully designed with 2 Bedrooms and 2 FULL Bathrooms. Additionally the property offers strong financial fundamentals with a solid 5.2% CAP rate and 13.4 Gross Rent Multiplier, based on current allowable rental increases.
Occupying a substantial lot of 32,800 square feet with 12,312 square feet of rentable space, tenants benefit from the comfort and convenience of 2-Car garage parking and interior laundry hookups. The interior of most units has been recently upgraded, featuring modern kitchens, updated bathrooms, and updated flooring throughout, enhancing the aesthetic appeal and functionality of each space.
Significant capital improvements have been made, including new roofs for the garages and new water heaters for most units, ensuring a reduction in future maintenance needs. With no local rent control ordinance, the property also presents a compelling 20% upside in rental income, offering an excellent opportunity for investors seeking a desirable asset in a competitive market.
CV24171388
MLSⓇ ID
August 19, 2024
Listed
October 17, 2024
Updated
Map
1171 W Badillo Street
Covina CA, 91722
Interior Features
Total Stories
2
Laundry Description
Common Area, Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Inside
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.75 Acres
Lot Features
11-15 Units/Acre
Sewer
Public Sewer
Other Property Details
Area Name
614 - Covina
Days on Market
7
Garage
Yes
Garage Spaces
24
Parking Total
42
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
CVR3-RD1500*
Listing History
Date | Event | Price |
|---|---|---|
9/20/2024 | Pending | — |
9/3/2024 | Under contract | — |
Listing Contact: 626-956-0188
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/17/2024. 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 10/17/2024 at 1:44 PM UTC