544 S 1st Avenue #3, Covina, CA 91723

$1,200,000 Approx. USD 0 beds, 0 baths

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Marketed By The Keaty Team

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Agent Remarks

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.

Listing Details

Property type: Apartment (Multi-Family)

Status: Pending

MLS# CV25040761

Price: $1,200,000

HOA Fee is $0.00

Beds: 0

Baths: 0

None fireplaces

Built in 1962

2 stories

0.18 acres