544 S 1St Avenue, #3

Covina, CA 91723

$1,200,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1962

calendar_month Built

Property Description

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 Information

List Price $1,200,000
Status Active
MLS CV25040761
HOA $0
Type Residential Income
Subtype Apartment
Year Built 1962
Lot Size 7,827
Structure Size N/A
Courtesy Of RE/MAX 2000 REALTY
Listing Agent Kristopher German DRE#01800021

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Fireplace Information
Features None
Cooling Type
Cooling Type Wall/Window Unit(s)
Heating Type
Heating Type Central

Exterior Information

Other Structures
Views None

Maps

home_work Nearby Properties

Listing information courtesy of: Kristopher German, RE/MAX 2000 REALTY 626-427-0786. *Based on information from the Association of REALTORS/Multiple Listing as of Feb 24th, 2025 at 11:56 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.