We are pleased to present 1033 W Cypress St, a well-maintained 6-unit multifamily property in Covina, California. This prime investment opportunity offers stable tenancy in the sought-after Southern California rental market. Built in 1963, this two-story building features a desirable unit mix, including one studio, two 1-bedroom/1-bath units, and three 2-bedroom/1.5-bath units. The property offers amenities such as an on-site laundry facility, covered parking, and individual gas and electricity meters for each unit. Additionally, all units are equipped with wall-mounted air conditioning, and most have undergone significant upgrades. The property benefits from a solid tenant base, with current rents below market levels, providing great rental upside. With no local rent control in Covina, investors can capitalize on the ability to implement rent increases in line with California AB1482 guidelines. Strategically located, the property is across from Northview High School and within walking distance to other local schools. Tenants enjoy easy access to Covina’s charming downtown, which offers a variety of restaurants, shops, and entertainment options. The property is also close to the Covina Metrolink station and major thoroughfares, including the 10 and 210 freeways, providing convenient commutes. This offering presents a rare opportunity to acquire a stable, income-producing asset with significant potential for rental growth and long-term appreciation in one of Southern California’s resilient rental markets.
Property Details
Price:
$2,200,000
MLS #:
24459205
Status:
Active
Baths:
0
Address:
1033 W Cypress Street
Type:
Residential Income
Neighborhood:
614covina
City:
Covina
Listed Date:
Nov 1, 2024
State:
CA
ZIP:
91722
Lot Size:
7,716 sqft / 0.18 acres (approx)
Year Built:
1963
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Schools
Interior
Appliances
Microwave
Heating
Forced Air
Exterior
Parking Features
Carport
Parking Spots
0.00
Stories Total
2
Financial
Map
Community
- Address1033 W Cypress Street Covina CA
- Area614 – Covina
- CityCovina
- CountyLos Angeles
- Zip Code91722
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Courtesy of Colliers International Greater Los Angel. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
1033 W Cypress Street
Covina, CA
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