NOT LISTED FOR SALE

663 E Ruddock St Covina, CA 91723

3 Beds
2 Baths
5,656 Sq Ft
7,375 Sq Ft Lot

Last Sold October 01, 2024

Last sale price $1,750,000 $309 Per Sq Ft

109 Days on Market

Highlights

  • Laundry Room
  • South Hills High School Rated A-
  • Rectangular Lot

About This Home

As of October 2024

We are pleased to exclusively present the opportunity to acquire 663 East Ruddock Street, a 7-unit multifamily investment property in the city of Covina, California. The property is a two-story building constructed in 1961 with a building size of 5,656 square feet and sits on a 7,373 square feet parcel. The property consists of two one-bedroom/one-bathroom units and five two-bedroom/one-bathroom units. The property features a fenced well-maintained front lawn, secured entrance, and an on-site laundry room. Parking is accessible via rear alley, and there are three double-car garages and one single-car garage. The front unit offers a private patio. All units are individually metered for gas and electricity. Landlord pays for water and trash. For ease of commute, the offering is conveniently located one and a half mile away from Interstate 10 Freeway and only one mile away from the Metrolink Covina Station which offers the San Bernardino Line, taking travelers west to Union Station in Los Angeles and east to Redlands in the Inland Empire. In addition, the Covina-Valley Unified School District is within a 10-minute walk of the subject property, and more than eight public and private schools are within a one-mile radius of the property. For higher education, both Mt. San Antonio College and California State Polytechnic University are a short drive away from the subject property. Ranked the top 3% of community colleges in the country, Mt. San Antonio College is a public community college that offers more than 400 degree and certificate programs, 36 support programs, and more than 50 student clubs and athletic programs. Situated on more than 1,700 acres of land, Cal Poly Pomona is one of three polytechnic universities in the California State University system devoted primarily to the instruction of technical arts and applied sciences, and the university has been recognized as a U.S. Fulbright Scholar Top Producing Institution for STEM fields. 663 E Ruddock Street is one mile east of Downtown Covina, which has a remarkable variety of unique shops, beauty salons, restaurants, and live entertainment venues. Also known as the “Covina Old Town”, Downtown Covina nestled in a three-block radius along Citrus Avenue and has a charming and nostalgic ambiance, attracting locals and visitors alike.

Last Agent to Sell the Property

Douglas McCauley

MARCUS & MILLICHAP Brokerage Phone: 626-695-6776 Listed on: 05/02/2024

Co-Listed By

David Covarrubias

MARCUS & MILLICHAP Brokerage Phone: 626-695-6776

Last Buyer's Agent

Kristopher German

RE/MAX 2000 REALTY License #01800021

RE/MAX 2000 REALTY

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 7,375 Sq Ft Lot
  • Two or More Common Walls
  • Rectangular Lot

Parking

  • 7 Car Garage

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 5,656 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 39
  • Tax Tract Number 21003
  • Assessor Parcel Number 8429012022

Community Details

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $450
  • Fuel Expense $336
  • Gardener Expense $1,080
  • Insurance Expense $3,500
  • Maintenance Expense $6,750
  • Pest Control $500
  • Trash Expense $4,447
  • Water Sewer Expense $2,861
  • New Taxes Expense $20,855
  • Operating Expense $40,780
  • Gross Income $135,696
  • Net Operating Income $91,938

Additional Features

  • 7 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

7,375 Sq Ft Lot

Parking

7

Listing Details

  • CapRate: 5.11
  • Property Attached: Yes
  • Water Sewer Expenses: 2861.00
  • Zoning: CVRD2000*
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1080.00
  • Parcel Number: 8429012022
  • Year Built: 1961
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 309.41

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 7.00
  • Total Parking Spaces: 7.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Pest Control Expense: 500.00
  • Sewer: Public Sewer
  • Trash Expense: 4447.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot
  • Lot Size Sq Ft: 7375.00
  • Lot Size Acres: 0.1693

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 450.00
  • Fuel Expense: 336.00
  • Gross Income: 135696.00
  • Gross Operating Income: 132717.00
  • Gross Scheduled Income: 135696.00
  • Insurance Expense: 3500.00
  • Laundry Income: 1092.00
  • Lot Size Area: 7375.0000 Square Feet
  • Maintenance Expense: 6750.00
  • Net Operating Income: 91938.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 7
  • Operating Expense: 40780.00
  • Operating Expense Percent: 30.70
  • Other Income1: 513.00
  • Other Income Description: Late Fee
  • Rent Control: No
  • Total Expenses: 40780.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 20855.00
  • Tax Census Tract: 4037.22
  • Tax Lot: 39
  • Tax Tract Number: 21003
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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
10/01/2024 10/01/24 Sold $1,750,000 -2.7% $309 / Sq Ft
08/19/2024 08/19/24 Pending -- -- --
07/23/2024 07/23/24 Price Changed $1,798,000 -4.2% $318 / Sq Ft
05/30/2024 05/30/24 Price Changed $1,876,000 -4.3% $332 / Sq Ft
05/02/2024 05/02/24 For Sale $1,960,000 -- $347 / 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 $10,793 $1,750,000 $1,200,000 $550,000
2024 $10,793 $694,907 $252,737 $442,170
2023 $10,657 $681,282 $247,782 $433,500
2022 $10,531 $667,924 $242,924 $425,000
2021 $10,369 $654,828 $238,161 $416,667
2019 $10,161 $635,607 $231,098 $404,509
2018 $9,761 $623,149 $226,567 $396,582
2016 $9,176 $598,761 $217,770 $380,991
2015 $8,934 $589,768 $214,499 $375,269
2014 -- $578,216 $210,298 $367,918
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV24088476

California Regional Multiple Listing Service (CRMLS)
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