221 W Dexter Street

Covina, CA 91723

  • 0 Bed(s)
  • 0 Bath(s)
  • 11,096 Sqft
  • 20446
    Sqft(Lot)
$3,400,000

Description

Great opportunity to purchase a 14 unit apartment building near downtown covina. the building offers eight 2-bedroom/1-bathroom units and six 1-bedroom/1-bathroom units. the exterior has been recently and completely repainted, and the parking and asphalt areas have been fully redone. the property features manicured grounds with a spacious interior courtyard for residents to enjoy.



one of the two-bedroom units is completely remodeled and currently unrented, with an estimated rental income of $2,200 per month. the remaining seven two-bedroom units are currently rented at $1,400 per month, and the one-bedroom units are rented at $1,240 per month.



the current gross income is $239,520, and with rent increases due in may, this will rise to $257,725.44. the operating income, factoring in the new property taxes at a rate of 1.25%, will be $69,225.60. calculating with a 3% vacancy rate, the cap rate for this building is currently at 4.4%, which, with the upcoming rent increases in may, will increase to 4.9%.

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    47772763

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Property Details

  • Water/Sewer

    • Water Source : Public
    • Sewer : Public Sewer

    Interior Features

    • Roof : Composition
    • Property Appliances: Disposal,Gas Range
    • Fireplace: None

    Cooling Features

    • Wall/Window Unit(s)
    • Air Conditioning

    Heating Source

    • Wall Furnace
    • Has Heating

    Fireplace

    • Fireplace Features: None
    • Has Fireplace: 0

  • Building Information

    • Year Built: 1960
    • Building Area Total: 11,096
    • Construction: Stucco
    • Roof: Composition

    Foundation

    • Slab

    Pool Features

    • None

    Laundry Features

    • Common Area

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.4694
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 20446

  • Listing Price Information

    • Original List Price: 3,400,000
    • Listing Contract Date: 2024-11-22

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 8444007025

  • Garage and Parking

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Pending
    • Source Neighborhood: 614 - Covina
    • Postal Code Plus 4: 2538
    • Directions: West of Citrus on Dexter, north side of the street
    • Zoning: CVR3-RD1250*
    • Source Property Type: Residential Income
    • Area: 614 - Covina
    • Property SubType: Apartment

    Building and Construction

    • Property Age: 64
    • Common Walls: No Common Walls
    • Structure Type: Apartment
    • Year Built Source: Assessor
    • Entry Level: 1
    • Entry Location: 1
    • Levels or Stories: Two
    • Building Total Stories: 2
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BuyOwner last updated this listing 12/22/2024 @ 03:39

  • MLS: CV24238095
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 0 bedrooms which is recently sold, it has 11,096 sqft, 20,446 sized lot, and 8 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 91723, this Los Angeles County Home are nearby neighborhoods.