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$1,575,000
12 bed
7 bath
0 Sqft
8,148 Sqft lot

654 E Ruddock Street, Covina, California 91723

  • Residential Income Property Type
  • 13 Days Time on market
  • 1962 Year Built
Property Description

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.

Basic Details
Residential Income
Buy
CV24065005
$1,575,000
12
7
0 Sqft
1962
8,148 Sqft
Pending
Apartment
Houses
Features
: Sidewalks, Curbs, Gutters
6
$0
: Public Sewer
Address
CA
Los Angeles
Covina
91723
654 E Ruddock Street
654
Street
0
W118° 7' 19.9''
N34° 5' 23''
E
Additional Information
13
1
2
2
: Two
: Common Area, Inside
0
6,375 Sqft
1
0 Sqft
0 Sqft
0.19 Sqft
8,148 Sqft
1
: 2+ Common Walls
0 Sqft
CVRD2000*
8429033014
$0
$0
$0
$4,500
$0
$540
0 Sqft
1
0 Sqft
$0
1
01/05/2024
01/05/2024 00:00:00
$1,625,000
: Standard
Cash,CashtoNewLoan
South of I-210, West of CA-57; Near the Intersection of N Vecino Dr & E Ruddock St
RE/MAX 2000 REALTY
Kristopher German
51247
CV33418
$0
6
28
1
: Item610unitsacre
1
1
: Square Feet
1
: Community Apartment
yes
1
6
6
1
6
6
26
122580
US-06037-N-8429033014-R-N
Apartment
24/04/2024 02:22:54
Ruddock
614 - Covina
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