19531 E Cienega Avenue

Covina, CA 91724

  • 40 Bed(s)
  • 0 Bath(s)
  • 16,191 Sqft
  • 40957
    Sqft(Lot)
$6,588,000

Description

Price improvement motivated seller bring all offers. we are pleased to present for sale a 20-unit multifamily property situated at 19531 e cienega ave in covina. this property offers investors the opportunity to acquire a pride-of-ownership, value-add real estate asset in the heart of the san gabriel valley. constructed in 1988, the property features a favorable unit mix consisting entirely of large 2-bedroom, 2-bathroom units. the units total approximately 16,191 square feet on a spacious 0.94-acre lot. each unit includes its own patio or balcony and is separately metered for gas and electricity, providing added convenience. the property boasts an onsite laundry facility, a swimming pool, and secure gated entries. parking accommodations include ample carports and uncovered spaces on the large lot. offered on the market for the first time in over 20 years, the majority of the units have been renovated by the owner. current rents are significantly below market, providing over 25% upside on rents. additionally, there is potential for extra rental income by adding accessory dwelling units (adu), subject to verification by the buyer. strategically positioned, 19531 e cienega ave offers convenient access to a multitude of amenities and attractions. the property is located in close proximity to supermarkets, national retailers, restaurants, and schools, with easy access to major transportation arteries, including the 210 and 10 freeways and the covina metrolink station. this sought-after location provides investors with the prospect of acquiring a lucrative multifamily asset poised to generate substantial cash flow while offering a hedge against inflation in the thriving city of covina.

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    46801128

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Property Details

  • Bedroom Information

    • Total Bedrooms : 40

    Bathroom Information

    • Total Baths: 40
    • Full Baths: 0
    • Half Baths: 0

    Interior Features

    • Interior Features: Ceiling Fan(s)
    • Property Appliances: Dishwasher

    Cooling Features

    • Central Air
    • Air Conditioning

    Heating Source

    • Central
    • Has Heating

  • Building Information

    • Year Built: 1988
    • Building Area Total: 16,191

    Security Features

    • Carbon Monoxide Detector(s),Gated Community,Smoke Detector(s)

    Pool Features

    • Fenced,In Ground

    Laundry Features

    • Common Area

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.9402
    • Lot Size Dimensions: 161x260
    • Lot Size Source: Vendor Enhanced
    • Lot Size Square Feet: 40957

  • Listing Price Information

    • Original List Price: 6,588,000
    • Listing Contract Date: 2024-08-29

    Lease Information

    • Listing Agreement: Seller Reserved

  • Tax Information

    • Parcel Number: 8404002038

  • Garage and Parking

    • Garage Description: Carport

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: 614 - Covina
    • Directions: North side of E Cienega Ave near Grand Ave
    • Zoning: LCA17500*
    • Source Property Type: Residential Income
    • Area: 614 - Covina

    Building and Construction

    • Property Age: 36
    • Property Condition: Updated/Remodeled
    • Year Built Source: Vendor Enhanced
    • Total Square Feet Living: 16191
    • Levels or Stories: Two
    • Building Total Stories: 2
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BuyOwner last updated this listing 11/21/2024 @ 18:05

  • MLS: 24433699
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 40 bedrooms which is for sale, it has 16,191 sqft, 40,957 sized lot, and 0 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Covina , in zip code 91724, this Los Angeles County Home are nearby neighborhoods.