NOT LISTED FOR SALE

357 N Vecino Dr Covina, CA 91723

7 Beds
4 Baths
13,885 Sq Ft
0.36 Acres

Last Sold April 26, 2016

Last sale price $2,250,000 $162 Per Sq Ft

33 Days on Market

About This Home

As of April 2016

The Vecino Drive Apartments is located north of E Badillo St and east of N Barranca Ave. The property is conveniently located north of the 10 Freeway and a mile and a half away from IKEA and other major retail neighborhood shopping centers. Built in 1962, the Vecino Drive Apartments contains 13 sizable units on a 15,750 square foot lot. The lot is two connected parcels with one building on each parcel. The Vecino Drive Apartments has an excellent unit mix of 4 two-bedroom/one-bathroom units, 8 two-bedroom/one-and-a-half bathroom units, and 1 three-bedroom/two-bathroom units. The building size for this property totals 13,885 square feet with an average unit size of 1,068 square feet. The Vecino Drive Apartments is a stable income-producing property and a great long-term investment. It is located in a desirable, non-rent controlled area and offers growth and stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or for a 1031 exchange opportunity.

Last Agent to Sell the Property

Eric Chen

CB RICHARD ELLIS Listed on: 03/24/2016

Last Buyer's Agent

Eric Chen

CB RICHARD ELLIS Listed on: 03/24/2016

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 0.36 Acre Lot
  • Two or More Common Walls
  • Density is 36-40 Units/Acre

Home Design

  • 13,885 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 4 Bathrooms

Parking

  • 13 Parking Spaces
  • Parking Available
  • Assigned Parking

Location

  • Suburban Location

Listing and Financial Details

  • Tax Lot 28
  • Tax Tract Number 21003
  • Assessor Parcel Number 8429033016

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 13 Units

Building Details

  • 13 Separate Electric Meters
  • 13 Separate Gas Meters
  • 2 Separate Water Meters
  • Electric Expense $1,193
  • Insurance Expense $3,931
  • Maintenance Expense $6,183
  • Other Expense $2,600
  • Trash Expense $2,948
  • Water Sewer Expense $5,665
  • New Taxes Expense $32,411
  • Gross Income $13,160
  • Net Operating Income $96,242

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Listing Details

  • CapRate: 3.85
  • Property Attached: Yes
  • Water Sewer Expenses: 5665.00
  • Property Type: Residential Income
  • Parcel Number: 8429033016
  • Year Built: 1962
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 162.05

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 13.00

Utilities

  • Utilities: Sewer Connected
  • Trash Expense: 2948.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Curbs, Sidewalks, Suburban

Lot Info

  • Lot Features: 36-40 Units/Acre
  • Lot Size Sq Ft: 15750.00
  • Price Per Lot Square Foot: 142.86

Multi Family

  • Average2 Bed Area: 1035
  • Average3 Bed Area: 1365
  • Electric Expense: 1193.00
  • Gross Income: 13160.00
  • Gross Multiplier: 15.69
  • Gross Scheduled Income: 157920.00
  • Insurance Expense: 3931.00
  • Maintenance Expense: 6183.00
  • Maintenance Percent: 4.00
  • Net Operating Income: 96242.00
  • Number Of Separate Electric Meters: 13
  • Number Of Separate Gas Meters: 13
  • Number Of Separate Water Meters: 2
  • Number Of Units Total: 13
  • Operating Expense: 58345.00
  • Operating Expense Percent: 37.74
  • Other Expense: 2600.00
  • Other Expense Description: Reserves
  • Rent Control: No
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 32411.00
  • Taxes Percent: 20.97
  • Tax Lot: 28
  • Tax Rate: 1.14
  • Tax Tract Number: 21003
  • Tax Year: 2016

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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
04/26/2016 04/26/16 Sold $2,250,000 -10.0% $162 / Sq Ft
04/26/2016 04/26/16 Pending -- -- --
03/24/2016 03/24/16 For Sale $2,500,000 -- $180 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Eric Chen

    Seller's Agent in 2016

    Eric Chen

    CB RICHARD ELLIS

    (909) 418-2030

    65 Total Sales

    Eric Chen
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV16061313

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

357 N Vecino Dr, Covina, CA

Not Listed for Sale

MultiFamily

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California Regional Multiple Listing Service (CRMLS) 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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