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Sold for $1,625,000 on 05/15/24
  • Listing Provided by: 

    Kristopher German DRE #01800021 909-645-0443,

    RE/MAX 2000 REALTY

    $1,625,000

    654 E Ruddock St, Covina, CA 91723

    --beds
    --baths
    6,375sqft
    Multi Family
    Built in 1962
    -- sqft lot
    $1,605,600 Zestimate®
    $255/sqft
    $2,634 Estimated rent

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    $2,634/mo

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    $2,634/mo

    Rent Zestimate®

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    $10,201/mo

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    $10,201/mo

    Est. payment

    What's special

    JUST REDUCED! MOTIVATED SELLER! We are pleased to offer for sale this prime 6 unit multi-family investment nestled in the heart of the city of Covina. Priced at a 5% CAP Rate and 12.85 GRM (with about 30% upside in rental income) the subject property features a compelling unit mix of a Two-Story Townhouse with 2 Bedrooms/1.5 bathrooms, alongside five additional 2-Bedroom/1-Bathroom units. Spanning 6,375 square feet of rental space on an 8,148 square foot lot, the property has been thoughtfully designed to meet the needs of modern living. Each unit is separately metered for electricity and gas, providing ease of utility management and cost efficiency. Tenants are afforded the convenience of covered car-port parking and an onsite laundry facility, adding to the appeal of these units. Located just minutes from the vibrant "Downtown" Covina area, residents have easy access to a variety of shops, restaurants, and entertainment options, enhancing the rental attractiveness of this property. Perhaps most notably, this investment offers a significant opportunity for revenue growth, with a potential 30% upside in rental income. This combination of location, quality, and income potential makes this Covina property an enticing option for investors looking to expand their portfolio in a desirable market.

    Zillow last checked: 7 hours ago

    Listing updated: May 15, 2024 at 02:22pm

    Listing Provided by:

    Kristopher German DRE #01800021 909-645-0443,

    RE/MAX 2000 REALTY

    Bought with:

    Kristopher German, DRE #01800021

    RE/MAX 2000 REALTY

    Source: CRMLS,MLS#: CV24065005MLS LogoOriginating MLS: California Regional MLS

    Facts & features

    Interior

    Appliances
    • Laundry: Common Area, Inside
    Features
    • Common walls with other units/homes: 2+ Common Walls
    Interior area
    • Total structure area: 6,375
    • Total interior livable area: 6,375 sqft

    Property

    Parking
    • Total spaces: 6
    • Parking features: Carport
    • Carport spaces: 6
    Features
    • Levels: Two
    • Stories: 2
    • Entry location: 1
    • Pool features: None
    Lot
    • Size: 8,148 sqft
    • Features: 6-10 Units/Acre
    Details
    • Parcel number: 8429033014
    • Zoning: CVRD2000*
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    • Attached to another structure: Yes
    Condition
    • New construction: No
    • Year built: 1962

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & neighborhood

    Community
    • Community features: Curbs, Gutter(s), Sidewalks
    Location
    • Region: Covina

    HOA & financial

    Other financial information
    • Total actual rent: 10115

    Other

    Other facts
    • Listing terms: Cash,Cash to New Loan
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    Estimated market value
    $1,605,600