We are pleased to exclusively present this rare value-add 7-unit multifamily investment opportunity in the highly sought-after city of Covina. The property is comprised of a desirable unit mix featuring mostly two-story townhouse-style layouts, including (2) 3-bedroom / 1.5-bath units, (2) 2-bedroom / 1.5-bath units, and (3) 2-bedroom / 1.5-bath single-level units. Each unit offers a spacious and functional floor plan, averaging approximately 1,100 square feet—an uncommon feature for buildings of this era.
Residents enjoy a gated entry, covered parking, private patios or balconies, and the convenience of an on-site laundry facility. Each unit is individually metered for gas and electricity, allowing for simplified utility management and reduced operating expenses.
With over 50% rental upside, this asset presents a compelling opportunity for investors to reposition the property and significantly increase cash flow. Located in a strong rental market with consistent demand, this well-located and generously sized property is ideal for the value-driven investor seeking long-term growth and stability.
Residents enjoy a gated entry, covered parking, private patios or balconies, and the convenience of an on-site laundry facility. Each unit is individually metered for gas and electricity, allowing for simplified utility management and reduced operating expenses.
With over 50% rental upside, this asset presents a compelling opportunity for investors to reposition the property and significantly increase cash flow. Located in a strong rental market with consistent demand, this well-located and generously sized property is ideal for the value-driven investor seeking long-term growth and stability.
Property Details
Price:
$1,975,000
MLS #:
CV25082530
Status:
Active
Baths:
0
Address:
327 N Prospero Drive
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
614covina
City:
Covina
Listed Date:
Apr 15, 2025
State:
CA
ZIP:
91723
Lot Size:
7,745 sqft / 0.18 acres (approx)
Year Built:
1963
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Schools
Interior
Cooling
Wall/ Window Unit(s)
Fireplace Features
Living Room
Heating
Wall Furnace
Exterior
Community Features
Sidewalks, Street Lights
Fencing
Wood
Garage Spaces
0.00
Lot Features
0-1 Unit/ Acre
Parking Features
Carport
Parking Spots
6.00
Pool Features
None
Roof
Shingle
Sewer
Public Sewer
Spa Features
None
Stories Total
2
Water Source
Public
Financial
Association Fee
0.00
Tenant Pays
Electricity, Gas
Utilities
Electricity Available, Natural Gas Available, Sewer Available, Water Available
Map
Community
- Address327 N Prospero Drive Covina CA
- Area614 – Covina
- CityCovina
- CountyLos Angeles
- Zip Code91723
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327 N Prospero Drive
Covina, CA
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