Seller's Agent in 2025
Kristopher German
RE/MAX
(909) 645-0443
10 in this area
127 Total Sales
544 S 1st Ave Unit 3 Covina, CA 91723
7
Beds
5
Baths
3,788
Sq Ft
7,827
Sq Ft Lot
Highlights
- No HOA
- Cooling System Mounted To A Wall/Window
- 6 Attached Carport Spaces
- South Hills High School Rated A-
- Laundry Room
- Central Heating
About This Home
As of July 2025Probate Sale! 5 Units in Covina! We are pleased to exclusively offer for sale this value-add opportunity which is comprised of of two (2-Bedroom/1-Bathroom) units and three (1-Bedroom/1-Bathroom) units, totaling 3,788 rental square feet on a 7,827 square foot lot. This asset provides desirable tenant amenities including an onsite laundry facility and covered car-port parking, enhancing the living experience and convenience for residents. Each unit is individually metered for electricity (all electric building), offering efficiency in utility management while the owner covers the water and trash expenses. Notably, three of the units will be delivered vacant, presenting an immediate opportunity to adjust rental rates to current market levels. The property boasts a potential 6.78% market CAP Rate and an 10.67 market Gross Rent Multiplier (GRM), illustrating its profitability and appeal as an investment. This probate sale requires court confirmation and is to be sold in "as-is" condition. Importantly, no loan contingency is allowed and the terms stipulate the need to close escrow in 30 days or less. This property represents a prime investment with significant upside potential in a sought-after Covina location.
Last Agent to Sell the Property
RE/MAX 2000 REALTY Brokerage Phone: 909-645-0443 License #01800021 Listed on: 02/24/2025
Last Buyer's Agent
RE/MAX 2000 REALTY Brokerage Phone: 909-645-0443 License #01800021 Listed on: 02/24/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1962
Lot Details
- 7,827 Sq Ft Lot
- Two or More Common Walls
- Brick Fence
- Density is up to 1 Unit/Acre
Home Design
- Apartment
- Entry on the 1st floor
- Shingle Roof
Interior Spaces
- 3,788 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 7 Bedrooms
- 5 Bathrooms
Parking
- 6 Parking Spaces
- 6 Attached Carport Spaces
- Parking Available
Outdoor Features
- Exterior Lighting
Utilities
- Cooling System Mounted To A Wall/Window
- Central Heating
Listing and Financial Details
- Tenant pays for electricity
- Tax Lot 13
- Tax Tract Number 17368
- Assessor Parcel Number 8445026005
- Seller Considering Concessions
Community Details
Overview
- No Home Owners Association
- 5 Units
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 5 Separate Electric Meters
- 1 Separate Water Meter
- Electric Expense $225
- Insurance Expense $3,840
- Trash Expense $3,600
- Water Sewer Expense $1,560
- New Taxes Expense $13,978
- Operating Expense $27,703
- Gross Income $112,044
- Net Operating Income $81,387
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/22/2025 07/22/25 | Sold | $1,250,000 | +4.2% | $330 / Sq Ft |
| 03/22/2025 03/22/25 | Pending | -- | -- | -- |
| 02/24/2025 02/24/25 | For Sale | $1,200,000 | -- | $317 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
| 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 |
|---|---|---|---|---|
| 2025 | $9,504 | $650,303 | $291,120 | $359,183 |
| 2024 | $9,504 | $637,553 | $285,412 | $352,141 |
| 2023 | $9,382 | $625,053 | $279,816 | $345,237 |
| 2022 | $9,270 | $612,798 | $274,330 | $338,468 |
| 2021 | $9,134 | $600,783 | $268,951 | $331,832 |
| 2019 | $8,948 | $583,236 | $260,975 | $322,261 |
| 2018 | $8,554 | $571,806 | $255,858 | $315,948 |
| 2016 | $8,051 | $549,345 | $245,924 | $303,421 |
| 2015 | $7,836 | $569,054 | $266,597 | $302,457 |
| 2014 | $8,064 | $557,908 | $261,375 | $296,533 |
Source: Public Records
Agents Affiliated with this Home
-
Kristopher German
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV25040761
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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