$6,880,000 Price Analysis   ♡   Covina, CA 91723 39 bed 38 bath 22,820 SqFt ($301/SqFt) 1.03 acre lot. Built 1961 Listed 2024-04-15, Taxes $70,920 | Ⓧ USDA Ineligible due to price & location near Covina |
PRICE IMPROVED We are pleased to present the rare opportunity to acquire a garden style 24-unit multi-family investment in Covina
California. Located at 826 North Barranca Avenue, the subject property is part of the portfolio of The Bahamas Apartment. This multi-family Asset is in a market with solid demographics and unique accessibility to major employment hubs, easy to access freeway I-10 and I-210, close to downtown Covina. The property is within minutes to essential city frequented locationsCostco, Walmart Supercenter, Home Depot, Plaza West Covina, Ikea, Azusa Pacific University, Citrus College, Cal Poly Pomona and Kaiser Permanente Baldwin Park Medical Center.
The roomy unit mix consists of studio, one-bedroom, Two-bedroom and Four- bedroom units with large floor plan, patio, Central AC. This property portfolio offers value-add opportunity for investors to invest in a prime asset with well-maintained condition. Two Units are nonconforming units (1 Studio and 1 one becroom unit). Investor has opportunity to legalize those unit and potentially add ADU. Buyer to verify. Ideal for exchange with potential upside on rent. The prperty will be delivered free and clear.
Presented by GRADY LIU at
Macroreal Inv Grp Inc.
Property MLS #TR24074689 from CRMLS
Lot Size Acres: 1.0348
Lot Size Source: Assessor
Lot Size Square Feet: 45075
Parking Total: 3
Bedrooms in Unit-2: 1
Bedrooms in Unit-3: 2
Bedrooms in Unit-4: 2
Bedrooms in Unit-5: 4
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 2
Total Bathrooms in Unit-5: 3
County: Los Angeles
Cap Rate: 6.00
Source Property Type: Residential Income
Area: 614 - Covina
Source Neighborhood: 614 - Covina
Number of Separate Electric Meters: 23
Number of Separate Gas Meters: 23
Number of Separate Water Meters: 1
Parcel Number: 8429031016
Zoning: CVR3-RD2000
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $1,421,739 + $3,860,570 $5,282,309 | $70,920 |
| 2021 | $1,393,862 + $3,784,873 $5,178,735 | $69,868 |
| 2020 | $1,379,570 + $3,746,064 $5,125,634 | $68,969 |
| 2019 | $1,352,520 + $3,672,612 $5,025,132 | $68,331 |
| 2018 | $1,326,000 + $3,600,600 $4,926,600 | $65,272 |
| 2017 | $1,300,000 + $3,530,000 $4,830,000 | $63,992 |
| 2016 | $1,465,187 + $407,676 $1,872,863 | $28,644 |
| 2015 | $1,443,179 + $401,553 $1,844,732 | $27,887 |
| 2014 | $1,414,910 + $393,688 $1,808,598 | $27,621 |
| 2013 | $1,408,516 + $391,909 $1,800,425 | $27,018 |
| 2012 | $1,380,899 + $384,225 $1,765,124 | $26,536 |
| 2010 | $1,353,823 + $376,692 $1,730,515 | $24,757 |
| 2009 | $1,346,898 + $374,766 $1,721,664 | $24,098 |
| 2009 | $1,343,705 + $373,877 $1,717,582 | $24,098 |
| 2008 | $1,320,489 + $367,418 $1,687,907 | $22,826 |
| 2007 | $1,294,598 + $360,214 $1,654,812 | $21,765 |
$6,880,000
CRMLS
Listed 2024-04-15
$7,280,000
CRMLS
Sold 2016-12-23
$8,050,000
Public Record
Sold 2016-03-31
$7,025,000
Public Record
Sold 1999-09-02
$2,491,520
Public Record
Sold 1976-11-03
$258,000
Public Record
Year Built: 1961
Building Features: 2
Common Walls: 2+ Common Walls
Entry Level: 1
Entry Location: Gate
Property Age: 63
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Apartment
Year Built Source: Assessor
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.