NOT LISTED FOR SALE

275 E Orlando Way Covina, CA 91723

3 Beds
3 Baths
3,944 Sq Ft
8,007 Sq Ft Lot

Last Sold October 17, 2017

Last sale price $1,125,000 $285 Per Sq Ft

8 Days on Market

About This Home

As of October 2017

We are pleased to exclusively offer for sale this 6 unit investment property located in the highly desirable rental community of the city of Covina. The current owner has made a number of improvements to the subject property such as new vinyl windows, updated kitchens, updated bathrooms, and new flooring where needed. Tenants enjoy onsite covered parking as well as an onsite laundry facility. The subject property is separately metered for electricity and gas while the owner pays for water and trash. The current rental rates are well below market levels, thus providing a new investor the opportunity to substantially increase the overall gross income of the subject property. Tenants are long term, the property has been well maintained, and the location is grade A, making this a lucrative investment for the next investor.

Last Agent to Sell the Property

Kristopher German

RE/MAX 2000 REALTY License #01800021 Listed on: 06/21/2017

RE/MAX 2000 REALTY

Last Buyer's Agent

Kristopher German

RE/MAX 2000 REALTY License #01800021 Listed on: 06/21/2017

RE/MAX 2000 REALTY

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1957

Lot Details

  • 8,007 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 2 Car Garage

Home Design

  • 3,944 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 5
  • Tax Tract Number 19876
  • Assessor Parcel Number 8445022013

Community Details

Building Details

  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $500
  • Fuel Expense $300
  • Insurance Expense $1,578
  • Maintenance Expense $5,630
  • Other Expense $900
  • Trash Expense $1,260
  • Water Sewer Expense $1,620
  • New Taxes Expense $12,398
  • Operating Expense $24,186
  • Gross Income $81,720
  • Net Operating Income $56,247

Additional Features

  • 6 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1957

Lot Details

0

Parking

2

Listing Details

  • CapRate: 5.23
  • Property Attached: Yes
  • Water Sewer Expenses: 1620.00
  • Zoning: CVR3-RD1250*
  • Property Type: Residential Income
  • Parcel Number: 8445022013
  • Year Built: 1957
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 285.24

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 1260.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 8007.00

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 500.00
  • Fuel Expense: 300.00
  • Gross Income: 81720.00
  • Gross Multiplier: 12.96
  • Gross Operating Income: 81720.00
  • Gross Scheduled Income: 81720.00
  • Insurance Expense: 1578.00
  • Laundry Income: 1200.00
  • Maintenance Expense: 5630.00
  • Net Operating Income: 56247.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 24186.00
  • Other Expense: 900.00
  • Other Expense Description: Reserves
  • Rent Control: No
  • Total Expenses: 24186.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 12398.00
  • Tax Census Tract: 4061.02
  • Tax Lot: 5
  • Tax Tract Number: 19876

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/17/2017 10/17/17 Sold $1,125,000 0.0% $285 / Sq Ft
06/29/2017 06/29/17 Pending -- -- --
06/29/2017 06/29/17 Off Market $1,125,000 -- --
06/21/2017 06/21/17 For Sale $1,075,000 -- $273 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Kristopher German

    Seller's Agent in 2017

    Kristopher German

    RE/MAX

    (909) 645-0443

    10 in this area

    125 Total Sales

    Kristopher German
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV17140462

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Covina 91723

275 E Orlando Way, Covina, CA

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