819 N. Grandview Avenue
Covina, CA 91723
Located in Covina, California, this low maintenance triplex offers (3)-1 bed / 1 bath units and offers an incoming cap rate north of 4%. Two of the three units have been fully renovated with washer/dryer hook-ups and new split system air-conditioners. With the rear unit in need of a renovation, the new owner may realize a rental bump of approximately $275 per month.
The property sits on a quiet residential street and has easy access to restaurants, retailers, and Stater Bros. market. Furthermore, the property is in proximity to Kahler Russell Park and Charter Oak High School.
This property is ideal for a buyer looking for the possibility to lock in a low interest rate thirty year loan with great cash flow for an investment of this size. With the upside presented in the back unit, the project offers promise of growth in a great neighborhood.
Listing Price: $750,000
Price per Unit: $250,000
Price per SF: $397.88
Cap Rate: 4.02%
Great, low maintenance investment with 30 year financing available
Non-rent control-City of Covina, CA
Two units have been fully renovated and outfitted with washer/dryer and updated split system air-conditioners
The rear unit maintains a private back yard. Upon remodel, the unit may capture a market rent of $1,475
Within proximity to Kahler Russell Park and Charter Oak High School
Surrounded by many quick service restaurants and retailers-Farmer Boys, Stater Bros, Dollar Tree, Little Caesar's Pizza, Starbucks, and 7-11
Wide and quiet residential street
Low price point allows for lower barrier of entry
Three covered parking spaces