Covina (614) Homes with Apartment Subtype

Covina (614) Homes with Apartment Subtype

Welcome to Covina, California, a charming city nestled in the heart of Los Angeles County. Known for its picturesque neighborhoods and vibrant community spirit, Covina offers a unique blend of suburban tranquility and urban convenience. The city is well-connected, with easy access to major freeways, making it a perfect location for commuters heading to downtown Los Angeles or the surrounding areas.

Covina boasts an array of parks, shopping centers, and dining options, ensuring residents have everything they need right at their fingertips. The historic downtown area is a delightful mix of quaint boutiques and modern amenities, providing a perfect backdrop for leisurely strolls or family outings. With a rich cultural scene and numerous community events, Covina fosters a strong sense of belonging among its residents.

For those seeking a home with versatility, Covina offers a variety of properties featuring apartment subtypes. These homes are ideal for families looking for additional rental income or for multi-generational living arrangements. Imagine owning a beautiful property that not only serves as your sanctuary but also provides the opportunity for supplemental income through a well-designed apartment space.

Whether you’re a first-time homebuyer or looking to invest, Covina’s diverse real estate market caters to all needs and preferences. With its welcoming neighborhoods and strong community ties, Covina is more than just a place to live; it’s a place to thrive. Explore the possibilities and discover your dream home in this wonderful city!

Newest Covina (614) Homes with Apartment Subtype

$4,498,000
AR26165785 MLS Active Status
First Time for Sale Since 1975 – Exceptionally Rare 16-Unit Single-Story Value-Add Multifamily across from City of Glendora and at the border of San Dimas, Offering Over 8% Pro Forma CAP Rate (All Month-to-Month Tenants). Centrally Located Near Shopping, Major Freeways, and Minutes from Colleges and Universities. Excellent Unit Mix (All 2-Bed), Situated on a Large, Over-Parked Lot with Clear ADU Upside Potential (Possibly 4 ADUs – Buyer to Verify). Total 4 Units Will Be Delivered Vacant. Copper Plumbing, Roof mostly upgraded recently. 21306–21310 E Arrow Highway, Covina, CA 91724 — a rare single-story layout multifamily investment opportunity located in the City of Covina. This is the first time this property offered for sale since 1975 (50 years). This value-add investment provides an excellent opportunity for savvy investors to increase the return to market level (over 8% CAP Rate – ALL tenants are month-to-month) and add several ADUs on the lot (buyer to verify). The property is strategically located on E Arrow Highway right across from the City of Glendora and at the border of City of San Dimas, and within blocks away from multiple shopping and dining (San Dimas Plaza, Glendora Public Market, etc.). Built in 1963, the property is a single-story garden-style apartment comprised of 16 units (spread over 4 fourplexes) totaling ±14,960 square feet which translates to a large average size per unit of ±935 sf (buyer to verify). It sits on a large ±34,878 square foot C4 zoned lot (±0.80 acre). Although the property address is on Arrow Hwy, the lot sits behind 2 commercial properties which create a barrier from traffic noise and create a more private setting for the tenants. It has 2 long driveways on each side to access the property. The property consists of four (4) x fourplexes and offers a superb unit mix of ALL 2bedroom+1bathroom units (Avg. size of 935 SF/unit - buyer to verify). It is currently fully occupied, and owner occupies 2 units (which will be delivered vacant). Two of the fourplexes (8 units) have a newer roof, each unit has laundry hookups, individual water heater and separately metered for electricity and gas. Each fourplex/building has six (6) parking spaces (garage/carport) making a total of 24 parking spaces. If the new owner only give 1 parking space to each unit, there are 8 extra parking spaces that can be easily converted into 4 new ADUS (buyer to verify). Recent CAPEX include plumbing upgrades to copper pipe in 2007.

21306 E Arrow, Covina

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.