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.
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
Owner options
What's special
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#: CV24065005
Originating 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