19531 E Cienega Avenue, Covina, CA 91724 (MLS # 24433699)

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PRICE $6,588,000 dsIDX morgage calculator
BEDS 40
BATHS 40
HOME SIZE 16,191 sqft
LOT SIZE 40,956 sqft

Price improvement motivated seller bring all offers. We are pleased to present for sale a 20-unit multifamily property situated at 19531 E Cienega Ave in Covina. This property offers investors the opportunity to acquire a pride-of-ownership, value-add real estate asset in the heart of the San Gabriel Valley. Constructed in 1988, the property features a favorable unit mix consisting entirely of large 2-bedroom, 2-bathroom units. The units total approximately 16,191 square feet on a spacious 0.94-acre lot. Each unit includes its own patio or balcony and is separately metered for gas and electricity, providing added convenience. The property boasts an onsite laundry facility, a swimming pool, and secure gated entries. Parking accommodations include ample carports and uncovered spaces on the large lot. Offered on the market for the first time in over 20 years, the majority of the units have been renovated by the owner. Current rents are significantly below market, providing over 25% upside on rents. Additionally, there is potential for extra rental income by adding accessory dwelling units (ADU), subject to verification by the buyer. Strategically positioned, 19531 E Cienega Ave offers convenient access to a multitude of amenities and attractions. The property is located in close proximity to supermarkets, national retailers, restaurants, and schools, with easy access to major transportation arteries, including the 210 and 10 freeways and the Covina Metrolink Station. This sought-after location provides investors with the prospect of acquiring a lucrative multifamily asset poised to generate substantial cash flow while offering a hedge against inflation in the thriving city of Covina.

DAYS ON MARKET 63 LAST UPDATED 10/6/2024
YEAR BUILT 1988 COMMUNITY Covina
COUNTY Los Angeles STATUS Active
PROPERTY TYPE(S) Residential Income

PRICE HISTORY
Prior to Sep 24, '24 $6,799,500
Sep 24, '24 - Today $6,588,000


ADDITIONAL DETAILS
AIR Central Air
AIR CONDITIONING Yes
APPLIANCES Dishwasher
AREA Covina
GARAGE Carport
HEAT Central
INTERIOR Ceiling Fan(s)
LOT 0.94 acre(s)
LOT DIMENSIONS 161x260
PARKING Carport
POOL Yes
POOL DESCRIPTION Fenced,In Ground
STORIES 2
ZONING LCA17500*
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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Listed with Colliers International Greater Los Angel

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. as of 10/30/24 6:21 PM PDT and /or other sources. 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

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