19529 E Cypress Street, Covina, CA 91724 (MLS # CV24217987)

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PRICE $3,288,000 BEDS n/a BATHS 0 HOME SIZE 9,207 sqft LOT SIZE 16,118 sqft Request More Info Schedule a Showing

THE EXISTING ASSUMABLE LOAN FIXED at 3.07% Until October 2026We are pleased to exclusively present the opportunity to acquire Cypress Villa, located at 19529 East Cypress Street in unincorporated Los Angeles County, California. Cypress Villa is conveniently located near the signalized intersection of East Cypress Street and Grand Avenue. Constructed in 1984, the 11-unit multifamily investment property is situated on a 16,419 square feet rectangular parcel with a building area of 9,207 square feet. The property consists of eleven two-bedroom/one-bathroom floor plans and features an on-site laundry room, copper plumbing, central water heater, and central air conditioning and heating. For parking, there are eleven tuck-under parking spaces with storage units, six carport parking spaces, and five open space parking spaces (Two parking spaces per unit). The majority of windows have been upgraded with new dual-pane windows. Selected kitchens and bathrooms were recently renovated. All units are individually metered for gas and electricity. Unincorporated Los Angeles County has their own rent control (Buyer to verify).Cypress Villa is ideally situated with easy access to Interstate 210, 10 and CA 57 freeways. With its central location and proximity to Downtown Los Angeles, the city is well served by the Metrolink Covina Station, providing its residents with many alternative ways of traveling to work, dining, shopping, and other amenities. With a very walkable score of 74 out of 100, the apartment building is within walking distance of several outdoor shopping malls with major department and grocery stores including Stater Bros Markets, Dollar Tree, and Vons. In addition, there are multiple private and public schools within a two-mile radius of the subject property such as Cedargrove Elementary School, Sonrise Christrian School, Royal Oak Middle School, and Charter Oak High School, thus attracting valuable long-term tenants. Residents can also enjoy a quick walk to Kahler Russell Park, that offers basketball and tennis courts, sports fields, playground, walking trails and more. Last but not least, the Via Verde Country Club is just a six-minute drive east of the offering. Nestled amongst the rolling Via Verde Hills, this private country club offers a picturesque view of the San Gabriel Mountains and captures the spirit of the community through exceptional golf, outstanding events, a warm atmosphere and panoramic views of Southern California.