Algiers Apartments | 233 S Bandy Ave
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Algiers Apartments 233 S Bandy Ave
18 Unit Apartment Building $4,388,000 ($243,778/Unit) 5.53% Cap Rate West Covina, CA 91790
Investment Highlights
- Central location close to 10 Freeway
- Excellent unit mix
- Onsite pool, laundry and parking
Executive Summary
Welcome to Algiers Apartments, an 18-unit multifamily property located at 233 S Bandy Ave, West Covina, CA 91723. This property presents an excellent investment opportunity with a desirable unit mix of ten 1-bedroom/1-bathroom units, and eight studio units located on a 12,559 SF lot. Built in 1957, the two-story building features an onsite pool, 14 parking spots, and laundry facilities, adding to the appeal for tenants. Situated in a prime central location, the property offers easy access to the 10 Freeway and is less than a mile from West Covina High School and Plaza West Covina, home to popular destinations such as Porto’s Bakery, Macy’s, Nordstrom Rack, and Best Buy.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,388,000 | Property Subtype | Apartment |
| Price Per Unit | $243,778 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.53% | Lot Size | 0.29 AC |
| Gross Rent Multiplier | 12.99 | Building Size | 8,556 SF |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1957 |
| Price | $4,388,000 |
| Price Per Unit | $243,778 |
| Sale Type | Investment |
| Cap Rate | 5.53% |
| Gross Rent Multiplier | 12.99 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 8,556 SF |
| No. Stories | 2 |
| Year Built | 1957 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | - | - |
| 1+1 | 10 | - | - |
1 of 1
Walk Score ®
Very Walkable (81)
PROPERTY TAXES
| Parcel Number | 8476-011-019 | Total Assessment | $2,999,403 (2024) |
| Land Assessment | $1,003,965 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,995,438 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
8476-011-019
Land Assessment
$1,003,965 (2024)
Improvements Assessment
$1,995,438 (2024)
Total Assessment
$2,999,403 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | MF-20 (Residential 20 du/ac) |
| MF-20 (Residential 20 du/ac) |
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Algiers Apartments | 233 S Bandy Ave
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