CA > Covina
Covina, CA 91722,1033 W Cypress St
Covina, CA 91722,1033 W Cypress St
Covina, CA 91722,1033 W Cypress St
10
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$2,200,000
Est. payment /mo
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9 BD
9 BA
5,133 SqFt
Active

1033 W Cypress St Covina, CA 91722

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Jason Tomei

Jason Tomei

+1(702) 802-8142

UPDATED:

11/09/2024 07:01 AM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,133 sqft

Price per Sqft $428

MLS Listing ID 24-459205

Bedrooms 9

Year Built 1963

Lot Size 7,716 Sqft

Acres 0.1771

Property Description

We are pleased to present 1033 W Cypress St, a well-maintained 6-unit multifamily property in Covina, California. This prime investment opportunity offers stable tenancy in the sought-after Southern California rental market. Built in 1963, this two-story building features a desirable unit mix, including one studio, two 1-bedroom/1-bath units, and three 2-bedroom/1.5-bath units. The property offers amenities such as an on-site laundry facility, covered parking, and individual gas and electricity meters for each unit. Additionally, all units are equipped with wall-mounted air conditioning, and most have undergone significant upgrades. The property benefits from a solid tenant base, with current rents below market levels, providing great rental upside. With no local rent control in Covina, investors can capitalize on the ability to implement rent increases in line with California AB1482 guidelines. Strategically located, the property is across from Northview High School and within walking distance to other local schools. Tenants enjoy easy access to Covina's charming downtown, which offers a variety of restaurants, shops, and entertainment options. The property is also close to the Covina Metrolink station and major thoroughfares, including the 10 and 210 freeways, providing convenient commutes. This offering presents a rare opportunity to acquire a stable, income-producing asset with significant potential for rental growth and long-term appreciation in one of Southern California's resilient rental markets.

Location

State CA

County Los Angeles

Area Covina

Zoning LCR3*

Rooms

Other Rooms None

Interior

Heating Forced Air

Cooling Wall Unit(s)

Equipment Microwave, Range/Oven

Exterior

Garage Carport

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Colliers International Greater Los Angel

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Jason Tomei

Agent | RE.S.0176035

+1(702) 802-8142

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1033 W Cypress St