654 Ruddock Street

Covina, CA 91723

$1,625,000

Sold Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $254 / sqft

1962

calendar_month Built

Property Description

JUST 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.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 654 Ruddock Street
City Covina
State CA
Zip 91723
County Los Angeles
Listing Agent Kristopher German DRE#01800021
Courtesy Of RE/MAX 2000 REALTY
MLS CV24065005
Close Price $1,625,000
Close Date Wednesday, May 15th, 2024
Status Closed
Type Residential Income
Subtype Apartment
Structure Size N/A
Lot Size 8,148
Year Built 1962
DOM 28

Exterior Information

Maps

Listing information courtesy of: Kristopher German, RE/MAX 2000 REALTY . *Based on information from the Association of REALTORS/Multiple Listing as of May 15th, 2024 at 2:21 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.