Vicky Maliszewski
KALEO REAL ESTATE COMPANY
(951) 800-3156
63 Total Sales
2 in Covina
$615K - $825K Price Range
348 N Prospero Dr Covina, CA 91723
Covina Area
6
Beds
4
Baths
13,862
Sq Ft
0.38
Acre Lot
Highlights
- Private Pool
- 0.38 Acre Lot
- Wood Flooring
- South Hills High School Rated A-
- Property is near park
- Landscaped
About This Home
As of June 2014The Prospero Apartments has an excellent unit mix of 1 - one bedroom one bath unit, 9 - two bedroom one bath units, and 4 - three bedroom two bath units. Currently, the rent for the one bedroom one bath unit is $75 or 8% below the market rate of $925/month. The two bedroom one bath units are $125-$175 or 10%-14% below the market rate of $1,225/month. The three bedroom two bath units are $100 or 7% below the market rate of $1,400/month. Upon bringing up the current rents to the market level, this property will generate an additional $1,650/month income, and the annual gross income is targeted at $213,960. The Prospero Apartments is situated on a 16,358 square foot lot, with 14 carport parking, one for each unit. Historically, this apartment building has always had the occupancy rate of 100%. This is an ideal opportunity for owners who enjoy stable cash flow in a solid rental neighborhood with healthy rent increases to apply for higher returns in the next 12 months.
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1963
Lot Details
- 16,358 Sq Ft Lot
- No Common Walls
- Landscaped
- Front Yard
- Density is 36-40 Units/Acre
Home Design
- Frame Construction
- Composition Roof
- Wood Siding
- Stucco
Interior Spaces
- 13,862 Sq Ft Home
- Blinds
- Wood Flooring
- Leased Washer and Dryer
Kitchen
- Gas Cooktop
- Disposal
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Bathrooms
Parking
- 14 Parking Spaces
- 14 Carport Spaces
- Parking Available
Pool
- Private Pool
- Fence Around Pool
Location
- Property is near park
- Suburban Location
Utilities
- Cooling System Mounted To A Wall/Window
- Wall Furnace
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas
- Tax Lot 22
- Tax Tract Number 21003
- Assessor Parcel Number 8429033032
Community Details
Recreation
- Community Pool
Building Details
- 14 Leased Units
- 14 Separate Electric Meters
- 15 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,345
- Gardener Expense $1,200
- Insurance Expense $2,942
- Maintenance Expense $7,533
- Pool Expense $1,680
- Professional Management Expense $6,592
- Trash Expense $4,471
- Water Sewer Expense $8,682
- New Taxes Expense $27,892
- Gross Income $16,180
- Net Operating Income $119,158
Additional Features
- 14 Units
- Laundry Facilities
Ownership 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
Name
Owned For
Owner Type
Purchase Details
Listed on
Mar 25, 2014
Closed on
Jun 19, 2014
Sold by
Chu Wen Mei
Bought by
Seller's Agent
Eric Chen
CB RICHARD ELLIS
Buyer's Agent
Robert Huang
DYNASTY REAL ESTATE
List Price
$2,450,000
Sold Price
$2,350,000
Premium/Discount to List
-$100,000
-4.08%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,525,000
Interest Rate
4.17%
Mortgage Type
Future Advance Clause Open End Mortgage
Purchase Details
Closed on
Mar 19, 2007
Sold by
Lein Tau Yun
Bought by
Lein Ling Mei
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,440,000
Interest Rate
6.29%
Mortgage Type
Commercial
Purchase Details
Closed on
Mar 15, 2007
Sold by
Bandera Investment Co
Bought by
Chu Wen Mei
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,440,000
Interest Rate
6.29%
Mortgage Type
Commercial
Purchase Details
Closed on
Mar 14, 2007
Sold by
Wu Richard
Bought by
Chu Wen Mei
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,440,000
Interest Rate
6.29%
Mortgage Type
Commercial
Purchase Details
Closed on
Dec 7, 2005
Sold by
Sweeney John A
Bought by
Bandera Investment Co
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,358,000
Interest Rate
6.2%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Nov 3, 1999
Sold by
Trust Sencer, Michael I Co Tr Sencer Fami
Bought by
Sweeney John A
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$510,000
Interest Rate
7.83%
Mortgage Type
Commercial
Purchase Details
Closed on
May 28, 1997
Sold by
Ulrich Charlotte R
Bought by
Sencer Michael I and Sencer Jacqueline J
Purchase Details
Closed on
May 23, 1997
Sold by
Welsh Olivia
Bought by
Welsh Barton
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Covina, CA
-
Vicky Maliszewski
-
Fernando Aguilar Jr.
Fernando Aguilar Jr.
Responds QuicklyKeller Williams Pacific Estates
(562) 667-3107
41 Total Sales
1 in Covina
$395,000 Price
-
Jovon Yanez
Jovon Yanez
Price Real Estate Group Inc
(424) 541-1012
37 Total Sales
2 in Covina
$680,000 Price Range
-
Naomi Hsiao
Naomi Hsiao
CENTURY 21 Affiliated
(562) 358-5073
33 Total Sales
1 in Covina
$660,000 Price
-
Leticia Sotomayor
Leticia Sotomayor
Real Brokerage Technologies, I
(909) 479-2558
78 Total Sales
1 in Covina
$870,000 Price
-
Mitchell Stein
Mitchell Stein
KW College Park
(424) 332-1466
41 Total Sales
2 in Covina
$820,000 Price Range
Purchase 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 | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $2,350,000 | First American Title Ins Co | ||
| Lein Ling Mei | -- | New Century Title Company | |
| Chen Ngan Thu | -- | New Century Title Company | |
| Chu Wen Mei | $2,150,000 | New Century Title Company | |
| Chu Wen Mei | -- | New Century Title Company | |
| Bandera Investment Co | $1,940,000 | Lawyers Title | |
| Sweeney John A | $680,000 | Southland Title Corporation | |
| Sencer Michael I | -- | Title Land Company | |
| Welsh Barton | -- | Title Land Company | |
| Ulrich Charlotte R | -- | Title Land Company |
Source: Public Records
Mortgage 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 | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $1,310,000 | ||
| Closed | Sogo Global Investment Inc | $1,525,000 | |
| Previous Owner | Chu Wen Mei | $1,440,000 | |
| Previous Owner | Bandera Investment Co | $1,358,000 | |
| Previous Owner | Sweeney John A | $510,000 |
Source: Public Records
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 |
|---|---|---|---|---|
| 06/30/2014 06/30/14 | Sold | $2,350,000 | -4.1% | $170 / Sq Ft |
| 05/16/2014 05/16/14 | Pending | -- | -- | -- |
| 03/25/2014 03/25/14 | For Sale | $2,450,000 | -- | $177 / 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 | $40,562 | $2,938,384 | $1,062,818 | $1,875,566 |
| 2025 | $40,562 | $2,880,770 | $1,041,979 | $1,838,791 |
| 2024 | $38,401 | $2,824,286 | $1,021,549 | $1,802,737 |
| 2023 | $37,885 | $2,768,909 | $1,001,519 | $1,767,390 |
| 2022 | $37,413 | $2,714,618 | $981,882 | $1,732,736 |
| 2021 | $36,851 | $2,661,391 | $962,630 | $1,698,761 |
| 2019 | $36,053 | $2,583,280 | $934,079 | $1,649,201 |
| 2018 | $34,585 | $2,532,644 | $915,764 | $1,616,880 |
| 2016 | $32,627 | $2,433,506 | $880,204 | $1,553,302 |
| 2015 | $31,714 | $2,396,953 | $866,983 | $1,529,970 |
| 2014 | $31,305 | $2,349,811 | $1,092,935 | $1,256,876 |
Source: Public Records
Agents Affiliated with this Home
-
Eric Chen
Seller's Agent in 2014
Eric Chen
CB RICHARD ELLIS
(909) 418-2030
66 Total Sales
-
Robert Huang
RH
Buyer's Agent in 2014
Robert Huang
DYNASTY REAL ESTATE
(909) 373-2505
10 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV14060791
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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