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Covina Ranch 18205 E Cypress St

7 Unit Apartment Building $2,950,000 ($421,429/Unit) 3.52% Cap Rate Covina, CA 91723

Investment Highlights

  • Private road
  • Single standing homes
  • Open lot

Executive Summary

Improved Pricing. This exceptionally well-suited property presents an extraordinary opportunity for both astute developers and shrewd income property investors alike. There are six 2/1 bath homes and one 4/2 bath house that sits on an approximate 1.192 Acre lot. Its remarkable attributes and strategic location make it an ideal canvas for those seeking to unlock its maximum potential. Whether you envision a visionary development project or a lucrative income-generating venture, this property stands as a testament to the untapped possibilities being that it’s a one-of-a-kind gem. With its prime location, favorable future market conditions, and positive future growth indicators, this investment holds the promise of substantial returns and long-term viability. Embrace the chance to harness the full potential of this property, as it emerges for those with the foresight to seize this exceptional opportunity. Property is being sold by trustee. Seller has full authority and does not need court confirmation. Seller has never lived on property and is exempt from some disclosures. Property sold as is and does not warranty any items. Buyer to do own diligence and verify square footage and all details of the property. Do not disturb tenants.

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Net Operating Income - -

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual -
Annual Per SF -

Property Facts

Price $2,950,000
Price Per Unit $421,429
Sale Type Investment
Cap Rate 3.52%
Sale Conditions Redevelopment Project
No. Units 7
Property Type Multifamily
Property Subtype Apartment
Apartment Style Single Family Home
Building Class C
Lot Size 1.19 AC
Building Size 6,900 SF
Average Occupancy 100%
No. Stories 1
Year Built 1956
Parking Ratio 1.15/1,000 SF

Amenities

  • Smoke Detector

Unit Amenities

  • Air Conditioning
  • Washer/Dryer Hookup
  • Kitchen
  • Hardwood Floors
  • Tub/Shower
  • Wi-Fi
  • Dining Room

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
8421-015-004
Land Assessment
$210,533 (2024)
Improvements Assessment
$328,474 (2024)
Total Assessment
$539,007 (2024)

zoning

Zoning Code LCRA7000* (Five of More Units Or Apartments)
LCRA7000* (Five of More Units Or Apartments)
  • Listing ID: 31502467

  • Date on Market: 4/13/2024

  • Last Updated:

  • Address: 18205 E Cypress St, Covina, CA 91723

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