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$6,880,000
Est. payment /mo
1.03 Acres Lot
UPDATED:
12/05/2024 02:28 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID TR24074689
HOA Y/N No
Year Built 1961
Lot Size 1.035 Acres
Property Description
***PRICE IMPROVED*** We are pleased to present the rare opportunity to acquire a garden style 24-unit multi-family investment in Covina, California. Located at 826 North Barranca Avenue, the subject property is part of the portfolio of The Bahamas Apartment. This multi-family Asset is in a market with solid demographics and unique accessibility to major employment hubs, easy to access freeway I-10 and I-210, close to downtown Covina. The property is within minutes to essential city frequented locations—Costco, Walmart Supercenter, Home Depot, Plaza West Covina, Ikea, Azusa Pacific University, Citrus College, Cal Poly Pomona, and Kaiser Permanente Baldwin Park Medical Center. The spacious unit mix consists of studio, one-bedroom, Two-bedroom and Four-bedroom units with large floor plan, patio, Central AC. This property portfolio offers value-add opportunity for investors to invest in a prime asset with well-maintained condition. Two Units are nonconforming units (1 Studio and 1 one becroom unit). Investor has opportunity to legalize those unit and potentially add ADU. Buyer to verify. Ideal for exchange with potential upside on rent. The property will be delivered free and clear.
Location
State CA
County Los Angeles
Area 614 - Covina
Zoning CVR3-RD2000*
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 3.0
Garage Description 3.0
Pool Community, Fenced
Community Features Urban, Pool
Total Parking Spaces 3
Private Pool No
Building
Lot Description Lot Over 40000 Sqft
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 8429031016
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
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Listed by Grady Liu • MacroReal Inv Grp Inc. • gradyl@macroreal.com