1171 W Badillo Street, Covina, CA 91722
-
Listed Price :
$3,975,000
-
Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
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Year Built :
1985
Property Description
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.
Interior Features
| Laundry Information |
| Location(s) |
Common Area, Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Inside |
| Bedroom Information |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
Listing Information
| Address |
1171 W Badillo Street |
| City |
Covina |
| State |
CA |
| Zip |
91722 |
| County |
Los Angeles |
| Listing Agent |
Kristopher German DRE #01800021 |
| Courtesy Of |
RE/MAX 2000 REALTY |
| List Price |
$3,975,000 |
| Status |
Pending |
| Type |
Residential Income |
| Subtype |
Apartment |
| Structure Size |
N/A |
| Lot Size |
32,800 |
| Year Built |
1985 |
Listing information courtesy of: Kristopher German, RE/MAX 2000 REALTY. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:01 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
