544 S 1st Avenue
Covina, CA 91723
- – beds
- – baths
- – sqft
- 7,827 sqft lot
- 1962 build
- – on site
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.
Last checked:
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Last updated Feb 25, 2025
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MLS# CV25040761 —
The Building
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Year Built:1962
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:3788.00
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Building Area Units:Square Feet
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Total Number Of Units:5
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# of Buildings:1
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Roof:Shingle
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Stories Total:2
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Water Meters:1
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# of Separate Electric Meters:5
Interior
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Levels:Two
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Entry Location:Ground
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Fireplace:No
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Fireplace:None
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Laundry:Common Area
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Laundry:1
Location
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Directions:North of 10 Fwy, West of Barranca Ave
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Latitude:34.07982500
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Longitude:-117.88495400
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Zoning:CVR3-RD1250*
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Lot Features:0-1 Unit/Acre
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Lot Size Area:7827.0000
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Lot Size Acres:0.1797
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Lot Size SqFt:7827.00
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Lot Size Source:Assessor
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View:None
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Fencing:Brick
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Fence:Yes
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Census Tract:4061.03
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Tax Tract:17368
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Tax Lot:13
The Listing
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Special Listing Conditions:Standard
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Parcel Number:8445026005
Heating & Cooling
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Heating:1
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Heating:Central
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Cooling:Yes
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Cooling:Wall/Window Unit(s)
Utilities
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Utilities:Electricity Available, Sewer Available, Water Available
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Sewer:Public Sewer
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Water Source:Public
The Community
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Features:Street Lights
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Association:No
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Pool:None
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Senior Community:No
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Private Pool:No
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Spa Features:None
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Assessments:No
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Assessments:None
Parking
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Parking:Yes
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Parking:Attached Carport
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Parking Spaces:6.00
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Carport Spaces:6.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
2/24/25
Feb 24, 2025
|
Listed / Active | CRMLS_CA | $1,200,000 |