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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

$ 6,298,000

Est. payment -/mo

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Active

19531 E Cienega AVE Covina, CA 91724

40 Beds

40 Baths

16,191 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 16,191 sqft

Price per Sqft $388

MLS Listing ID 25564631

Bedrooms 40

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1988

Property Description

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. The property has been well-maintained under long-term ownership for over 20 years with most units having been renovated. Current rents are more than 25% below market, presenting a clear path for income growth. Located in unincorporated Los Angeles County, the property falls under the county's rent stabilization ordinance. Additionally, there is potential for additional rental income by adding accessory dwelling units (ADUs), 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 in close proximity to supermarkets, national retailers, restaurants, and schools, with easy access to major transportation arteries, including the 210 and 10 freeways and the Covina Metrolink Station. This sought-after location provides investors with the prospect of acquiring a lucrative multifamily asset poised to generate substantial cash flow while offering a hedge against inflation in the thriving city of Covina.

Location

State CA

County Los Angeles

Area 614 - Covina

Zoning LCA17500*

Interior

Interior Features Ceiling Fan(s)

Heating Central

Cooling Central Air

Fireplace No

Appliance Dishwasher

Laundry Common Area

Exterior

Parking Features Carport

Pool Fenced, In Ground

Community Features Gated

Total Parking Spaces 44

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 8404002038

Security Features Carbon Monoxide Detector(s),Gated Community,Smoke Detector(s)

Special Listing Condition Standard

Listed by Edward Pan Colliers International Greater Los Angel

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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Rick Lee

19531 E Cienega AVE Covina, CA 91724

Key Details

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Exterior

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19531 E Cienega AVE