NOT LISTED FOR SALE

672 S 2nd Ave Covina, CA 91723

Estimated Value: $984,000 - $1,088,000

3 Beds
3 Baths
1,986 Sq Ft
$517/Sq Ft Est. Value

Last Sold November 12, 2013

Last sale price $505,000 $254 Per Sq Ft

Est. 103% increase in value since last sale

Current estimated payment $6,086/month

10 Days on Market

Highlights

  • Corner Lot
  • No HOA
  • Bungalow
  • South Hills High School Rated A-
  • Cooling System Mounted To A Wall/Window
  • Turnkey

About This Home

As of November 2013

Very well Maintained Tri-plex in Covina. Located very close to shopping & freeway. All 3 units are 1 bedroom, 1 bath but are relatively large units for only 1 bedroom. The 2 front units are approximately 600 sq ft each while the rear unit id over 800 sq ft. These units were built with the goal of the owner living in the back unit and using the 2 front units for income. Drive by and check them out.

Last Agent to Sell the Property

Gary Boyer

SOUTHLAND PROPERTIES License #01112549 Listed on: 09/21/2013

Co-Listed By

Daniel Boyer

SOUTHLAND PROPERTIES License #01355369

Last Buyer's Agent

Eduardo Franco

ALTICORE REALTY License #01342548

ALTICORE REALTY

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,405

Year Built

  • Built in 1954

Lot Details

  • 7,480 Sq Ft Lot
  • 1 Common Wall
  • Corner Lot
  • Level Lot
  • Front Yard

Parking

  • 3 Car Garage
  • Parking Available
  • Assigned Parking
  • Unassigned Parking

Home Design

  • Bungalow
  • Property Attached
  • Entry on the 1st floor
  • Turnkey
  • Raised Foundation
  • Shingle Roof
  • Composition Roof
  • Stucco

Interior Spaces

  • 1,986 Sq Ft Home
  • 1-Story Property
  • Living Room with Fireplace

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 11
  • Tax Tract Number 19165
  • Assessor Parcel Number 8451003010

Community Details

Overview

  • No Home Owners Association
  • 3 Units

Building Details

  • 2 Leased Units
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $900
  • Insurance Expense $700
  • Maintenance Expense $3,000
  • Trash Expense $450
  • Water Sewer Expense $1,050
  • New Taxes Expense $5,980
  • Gross Income $2,875
  • Net Operating Income $26,250

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,405

Year Built

Built in 1954

Lot Details

0

Parking

3

Listing Details

  • Assessments: Yes
  • CapRate: 7.50
  • Price Per Unit: 159667
  • Property Attached: Yes
  • View: No
  • Water Sewer Expenses: 1050.00
  • Architectural Style: Bungalow
  • Property Condition: Turnkey
  • Property Type: Residential Income
  • Gardener Expense: 900.00
  • Parcel Number: 8451003010
  • Year Built: 1954
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 1
  • Common Walls: 1 Common Wall
  • Flooring: Carpet, Vinyl
  • Entry Level: 1
  • Fireplace Features: Living Room
  • Levels: One
  • Price Per Square Foot: 254.28
  • Room Type: All Bedrooms Down

Exterior Features

  • Foundation: Raised
  • Pool Private: No
  • Roof: Composition, Shingle
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Assigned, Unassigned
  • Total Parking Spaces: 6.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Heating Type: Wall Furnace
  • Trash Expense: 450.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Lot Features: Front Yard, Level with Street, Corner Lot
  • Lot Size Sq Ft: 7480.00
  • Lot Size Acres: 0.1720

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 650
  • Gross Income: 2875.00
  • Gross Multiplier: 13.80
  • Gross Scheduled Income: 34500.00
  • Gross Spendable Income: 26250.00
  • Insurance Expense: 700.00
  • Lot Size Area: 7480.0000 Square Feet
  • Maintenance Expense: 3000.00
  • Net Operating Income: 26250.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 2
  • Number Of Units Total: 3
  • Number Wall A C: 3
  • Number With Carpet: 3
  • Number With Drapes: 3
  • Number With Range: 3
  • Operating Expense: 8250.00
  • Operating Expense Percent: 23.00
  • Rent Control: No
  • Total Actual Rent: 2875.00

Tax Info

  • New Taxes Expense: 5980.00
  • Tax Lot: 11
  • Tax Tract Number: 19165
  • Tax Year: 2012

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 13, 2016
Sold by
Diaz Jose G and The Jose G Diaz Revocable Trus
Bought by
Diaz Arleen and The Arlenn Diaz Trust
Current Estimated Value
$1,027,039

Purchase Details

Listed on
Sep 21, 2013
Closed on
Oct 11, 2013
Sold by
Simonian Dennis and Dennis Simonian Revocable Trus
Bought by
Diaz Jose G and Jose G Diaz Revocable Trust
Seller's Agent
Gary Boyer
SOUTHLAND PROPERTIES
Buyer's Agent
Eduardo Franco
ALTICORE REALTY
List Price
$479,000
Sold Price
$505,000
Premium/Discount to List
$26,000
5.43%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.12%

Purchase Details

Closed on
Dec 9, 2005
Sold by
Simonian Dennis
Bought by
Simonian Dennis and Dennis Simonian Revocable Trus

Purchase Details

Closed on
Jun 13, 2000
Sold by
Stoddard Sara L and Stoddard James D
Bought by
Simonian Dennis

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$168,000
Interest Rate
8.67%
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Diaz Arleen -- None Available
Diaz Jose G $504,000 Ticor Title Co
Simonian Dennis -- --
Simonian Dennis $210,000 First American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Simonian Dennis $168,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/12/2013 11/12/13 Sold $505,000 +5.4% $254 / Sq Ft
10/01/2013 10/01/13 Pending -- -- --
09/21/2013 09/21/13 For Sale $479,000 -- $241 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $8,405 $644,121 $464,232 $179,889
2024 $8,405 $631,492 $455,130 $176,362
2023 $8,287 $619,110 $446,206 $172,904
2022 $8,182 $606,971 $437,457 $169,514
2021 $8,064 $595,071 $428,880 $166,191
2019 $7,887 $577,422 $416,160 $161,262
2018 $7,532 $566,100 $408,000 $158,100
2016 $6,874 $521,907 $335,512 $186,395
2015 $6,678 $514,069 $330,473 $183,596
2014 $6,593 $504,000 $324,000 $180,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV13194103

California Regional Multiple Listing Service (CRMLS)

APN: 8451-003-010