327 Prospero Drive, Covina, CA 91723
  • MLS#: CV25082530 ( Apartment )
  • Street Address: 327 Prospero Drive
  • Viewed: 2
  • Price: $1,975,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1963
  • Bldg sqft: 0
  • Days On Market: 11
  • Additional Information
  • County: LOS ANGELES
  • City: Covina
  • Zipcode: 91723
  • Provided by: RE/MAX 2000 REALTY
  • Contact: Kristopher Kristopher
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    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 feetan 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.
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Features
Assessments
  1. None
Association Fee
  1. 0.00
Building Area Total
  1. 7876.00
Carport Spaces
  1. 6.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Cooling
  1. Wall/Window Unit(s)
Country
  1. US
Current Financing
  1. None
Fencing
  1. Wood
Fireplace Features
  1. Living Room
Garage Spaces
  1. 0.00
Heating
  1. Wall Furnace
Insurance Expense
  1. 6500.00
Laundry Features
  1. Common Area
Laundry Income
  1. 70.00
Levels
  1. Two
Lockboxtype
  1. None
Lot Features
  1. 0-1 Unit/Acre
Netoperatingincome
  1. 90925.00
Newtaxesexpense
  1. 22895.00
Parcel Number
  1. 8429032010
Parking Features
  1. Carport
Pool Features
  1. None
Postalcodeplus4
  1. 2357
Professionalmanagementexpense
  1. 0.00
Property Type
  1. Apartment
Roof
  1. Shingle
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 436436539:CRM
Spa Features
  1. None
Tenant Pays
  1. Electricity
  2. Gas
Totalactualrent
  1. 11375.00
Totalexpenses
  1. 42295.00
Trash Expense
  1. 3300.00
Utilities
  1. Electricity Available
  2. Natural Gas Available
  3. Sewer Available
  4. Water Available
Vacancyallowance
  1. 4120
Water Sewer Expense
  1. 3300.00
Water Source
  1. Public
Year Built
  1. 1963
Year Built Source
  1. Assessor
Zoning
  1. CVRD2000*