We are pleased to present 1033 W Cypress St, a well-maintained 6-unit multifamily property in Covina, California. This prime investment opportunity offers stable tenancy in the sought-after Southern California rental market. Built in 1963, this two-story building features a desirable unit mix, including one studio, two 1-bedroom/1-bath units, and three 2-bedroom/1.5-bath units. The property offers amenities such as an on-site laundry facility, covered parking, and individual gas and electricity meters for each unit. Additionally, all units are equipped with wall-mounted air conditioning, and most have undergone significant upgrades. The property benefits from a solid tenant base, with current rents below market levels, providing great rental upside. With no local rent control in Covina, investors can capitalize on the ability to implement rent increases in line with California AB1482 guidelines. Strategically located, the property is across from Northview High School and within walking distance to other local schools. Tenants enjoy easy access to Covina's charming downtown, which offers a variety of restaurants, shops, and entertainment options. The property is also close to the Covina Metrolink station and major thoroughfares, including the 10 and 210 freeways, providing convenient commutes. This offering presents a rare opportunity to acquire a stable, income-producing asset with significant potential for rental growth and long-term appreciation in one of Southern California's resilient rental markets.
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DAYS ON MARKET
|
25
|
LAST UPDATED
|
11/1/2024
|
|
YEAR BUILT
|
1963
|
COMMUNITY
|
Covina
|
|
COUNTY
|
Los Angeles
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STATUS
|
Active
|
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PROPERTY TYPE(S)
|
Residential Income
|
|
|
| APPLIANCES |
Microwave |
| AREA |
Covina |
| GARAGE |
Carport |
| HEAT |
Forced Air |
| LOT |
7716 sq ft |
| PARKING |
Carport |
| STORIES |
2 |
| ZONING |
LCR3* |
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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 11/25/24 4:19 PM PST 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
This IDX solution is (c) Diverse Solutions 2024.
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