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***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.
Property Type(s):
Residential Income
| Last Updated | 8/12/2024 | Year Built | 1961 |
|---|---|---|---|
| Community | Covina | Garage Spaces | 3.0 |
| County | Los Angeles |
Price History
| Prior to May 20, '24 | $7,280,000 |
|---|---|
| May 20, '24 - Today | $6,880,000 |
Additional Details
| AREA | Covina |
|---|---|
| GARAGE | Yes |
| LOT | 1.03 acre(s) |
| LOT DESCRIPTION | Lot Over 40000 Sqft |
| POOL | Yes |
| POOL DESCRIPTION | Community,Fenced |
| SEWER | Public Sewer |
| STORIES | 2 |
| WATER | Public |
| ZONING | CVR3-RD2000* |
Location
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Listed with MacroReal Inv Grp Inc.
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