$ 6,588,000
19531 E Cienega Avenue Covina, CA 91724
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$ 6,588,000
Est. payment | /mo
16,191 SqFt
$ 6,588,000
Est. payment | /mo
16,191 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 16,191 sqft
Price per Sqft $406
MLS Listing ID CL24433699
HOA Y/N No
Year Built 1988
Lot Size 0.940 Acres
Acres 0.94
Property 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 pro
Location
State CA
County Los Angeles
Area Listing
Zoning LCA1
Interior
Heating Other
Cooling Central Air
Fireplace No
Laundry Community Facility
Exterior
Parking Type Other
Building
New Construction No
Others
Tax ID 8404002038
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Edward Pan • Colliers International Greater Los Angel
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "