Seller's Agent in 2024
Kristopher German
RE/MAX
(909) 645-0443
10 in this area
121 Total Sales
654 E Ruddock St Covina, CA 91723
12
Beds
7
Baths
6,375
Sq Ft
8,148
Sq Ft Lot
About This Home
As of May 2024JUST REDUCED! MOTIVATED SELLER! We are pleased to offer for sale this prime 6 unit multi-family investment nestled in the heart of the city of Covina. Priced at a 5% CAP Rate and 12.85 GRM (with about 30% upside in rental income) the subject property features a compelling unit mix of a Two-Story Townhouse with 2 Bedrooms/1.5 bathrooms, alongside five additional 2-Bedroom/1-Bathroom units. Spanning 6,375 square feet of rental space on an 8,148 square foot lot, the property has been thoughtfully designed to meet the needs of modern living. Each unit is separately metered for electricity and gas, providing ease of utility management and cost efficiency. Tenants are afforded the convenience of covered car-port parking and an onsite laundry facility, adding to the appeal of these units. Located just minutes from the vibrant "Downtown" Covina area, residents have easy access to a variety of shops, restaurants, and entertainment options, enhancing the rental attractiveness of this property. Perhaps most notably, this investment offers a significant opportunity for revenue growth, with a potential 30% upside in rental income. This combination of location, quality, and income potential makes this Covina property an enticing option for investors looking to expand their portfolio in a desirable market.
Last Agent to Sell the Property
RE/MAX 2000 REALTY Brokerage Phone: 909-645-0443 License #01800021 Listed on: 04/02/2024
Last Buyer's Agent
RE/MAX 2000 REALTY Brokerage Phone: 909-645-0443 License #01800021 Listed on: 04/02/2024
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1962
Lot Details
- 8,148 Sq Ft Lot
- Two or More Common Walls
- Density is 6-10 Units/Acre
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 6,375 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 12 Bedrooms
- 7 Bathrooms
Parking
- 6 Parking Spaces
- 6 Carport Spaces
Outdoor Features
- Rain Gutters
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 26
- Tax Tract Number 21003
- Assessor Parcel Number 8429033014
- $2,530 per year additional tax assessments
Community Details
Building Details
- 6 Leased Units
- Rent Control
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $540
- Fuel Expense $2,640
- Insurance Expense $4,500
- Maintenance Expense $4,500
- Other Expense $900
- Trash Expense $4,800
- Water Sewer Expense $4,000
- New Taxes Expense $18,346
- Operating Expense $40,226
- Gross Income $122,580
- Net Operating Income $78,677
Additional Features
- 6 Units
- Laundry Facilities
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/15/2024 05/15/24 | Sold | $1,625,000 | +3.2% | $255 / Sq Ft |
| 05/01/2024 05/01/24 | Pending | -- | -- | -- |
| 04/23/2024 04/23/24 | For Sale | $1,575,000 | -3.1% | $247 / Sq Ft |
| 04/22/2024 04/22/24 | Off Market | $1,625,000 | -- | -- |
| 04/02/2024 04/02/24 | For Sale | $1,625,000 | -- | $255 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Kristopher German
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV24065005
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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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