Covina, CA 91722,1171 W Badillo ST
Covina, CA 91722,1171 W Badillo ST
Covina, CA 91722,1171 W Badillo ST
12
$3,830,000
$3,975,000
3.6%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

0.75 Acres Lot

1171 W Badillo ST Covina, CA 91722

Est. payment /mo
SOLD DATE : 10/25/2024

Want to know what your home might be worth? Contact us for a FREE valuation!

Submit

Our team is ready to help you sell your home for the highest possible price ASAP

Key Details

Sold Price $3,830,000

Property Type Commercial

Listing Status Sold

Purchase Type For Sale

MLS Listing ID CRCV24171388

Sold Date 10/25/24

Originating Board California Regional MLS

Year Built 1985

Lot Size 0.753 Acres

Property Description

We are pleased to exclusively offer for sale this unique investment opportunity in the city of Covina featuring all Two-Story Townhouse style units. Constructed in 1985 and well-maintained over time, each town-house is thoughtfully designed with 2 Bedrooms and 2 FULL Bathrooms. Additionally the property offers strong financial fundamentals with a solid 5.2% CAP rate and 13.4 Gross Rent Multiplier, based on current allowable rental increases. Occupying a substantial lot of 32,800 square feet with 12,312 square feet of rentable space, tenants benefit from the comfort and convenience of 2-Car garage parking and interior laundry hookups. The interior of most units has been recently upgraded, featuring modern kitchens, updated bathrooms, and updated flooring throughout, enhancing the aesthetic appeal and functionality of each space. Significant capital improvements have been made, including new roofs for the garages and new water heaters for most units, ensuring a reduction in future maintenance needs. With no local rent control ordinance, the property also presents a compelling 20% upside in rental income, offering an excellent opportunity for investors seeking a desirable asset in a competitive market.

Location

State CA

County Los Angeles

Area 614 - Covina

Interior

Laundry 30, Other, 38, Community Facility

Exterior

Garage Spaces 42.0

Pool None

Building

Water District - Public

Others

Tax ID 8434017081

Special Listing Condition Not Applicable

Read Less


MLS Listing IDX PLUS
Listed by Kristopher German • RE/MAX 2000 REALTY
Bought with Avinash Narang

GET MORE INFORMATION

Paul Locatelli

Broker Associate | License ID: 1348436

+1(831) 750-9795

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.