Jerusha Day
Coldwell Banker Envision
(818) 418-8890
25 Total Sales
1 in Covina
$130,000 Price
322 N Prospero Dr Covina, CA 91723
Covina Area
16
Beds
13
Baths
7,154
Sq Ft
7,780
Sq Ft Lot
Highlights
- No HOA
- South Hills High School Rated A-
- Laundry Facilities
About This Home
As of August 2023We are pleased to offer for sale this 6 unit, one of a kind, multi-family investment property in the city of Covina. The subject property is comprised of 5 two-story townhouse style units and one traditional apartment unit. The unit mix consists of 1(3Bed/2.5Bath) Town-House “Owner’s Unit”, 3(3Bed/1.5Bath) Town-Houses, 1(2Bed/1.5Bath) Town-House, 1(2Bed/1.5Bath) unit. Tenants enjoy an onsite laundry facility and covered car-port parking. The current owner has kept the rents quite modest for the area allowing a new investor the ability to “substantially improve” the subject property and increase the rental rates by as much as 60+%. By repositioning the property, a new investor can realize an 8+% cash on cash return when utilizing the private seller financing available. Private seller financing terms: 30% Down Payment, 6.5% Interest Only Payments, Due and Payable in 5 years.
Last Agent to Sell the Property
RE/MAX 2000 REALTY License #01800021 Listed on: 06/26/2023
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1963
Lot Details
- 7,780 Sq Ft Lot
- 1 Common Wall
- Density is 6-10 Units/Acre
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 7,154 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 16 Bedrooms
- 13 Bathrooms
Parking
- 6 Parking Spaces
- 6 Carport Spaces
- Parking Available
- Assigned Parking
Outdoor Features
- Rain Gutters
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 19
- Tax Tract Number 21003
- Assessor Parcel Number 8429033007
- $2,557 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 6 Units
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 7 Separate Electric Meters
- 7 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $360
- Fuel Expense $300
- Insurance Expense $3,500
- Maintenance Expense $4,500
- Other Expense $900
- Trash Expense $3,240
- Water Sewer Expense $2,640
- New Taxes Expense $20,117
- Operating Expense $35,557
- Gross Income $103,380
- Net Operating Income $64,721
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Covina, CA
-
Jerusha Day
-
Aldon Lai
Aldon Lai
High Ten Partners, Inc.
(626) 618-9134
16 Total Sales
1 in Covina
$1,050,000 Price
-
Debra Mason
Debra Mason
Berkshire Hathaway Homeservices California Realty
(951) 221-9081
42 Total Sales
1 in Covina
$630,000 Price
-
Cindy Bosshard
Cindy Bosshard
Responds QuicklyColdwell Banker Envision
(562) 414-5066
26 Total Sales
1 in Covina
$600,000 Price
-
Linda Ojeda
Linda Ojeda
Luxury Collective
(424) 372-0165
110 Total Sales
5 in Covina
$720K - $883K Price Range
-
Rodrigo Suerte Felipe
Rodrigo Suerte Felipe
eXp Realty of California Inc
(661) 592-1144
76 Total Sales
1 in Covina
$1,025,000 Price
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/01/2023 08/01/23 | Sold | $1,990,000 | +10.9% | $278 / Sq Ft |
| 07/17/2023 07/17/23 | Pending | -- | -- | -- |
| 06/26/2023 06/26/23 | For Sale | $1,795,000 | -- | $251 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $27,014 | $2,070,396 | $1,446,156 | $624,240 |
| 2025 | $27,014 | $2,029,800 | $1,417,800 | $612,000 |
| 2024 | $25,660 | $1,990,000 | $1,390,000 | $600,000 |
| 2023 | $9,524 | $596,355 | $212,981 | $383,374 |
| 2022 | $9,410 | $584,662 | $208,805 | $375,857 |
| 2021 | $9,252 | $573,199 | $204,711 | $368,488 |
| 2019 | $9,068 | $556,199 | $198,640 | $357,559 |
| 2018 | $8,701 | $545,295 | $194,746 | $350,549 |
| 2016 | $8,151 | $524,123 | $187,185 | $336,938 |
| 2015 | $7,940 | $516,251 | $184,374 | $331,877 |
| 2014 | $7,863 | $506,139 | $180,763 | $325,376 |
Source: Public Records
Agents Affiliated with this Home
-
Kristopher German
Seller's Agent in 2023
Kristopher German
RE/MAX
(909) 645-0443
127 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV23113471
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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