514 E Cypress Street, Covina CA, 91723

Sold

514 E Cypress Street

Covina CA, 91723

$7,025,000

$435.71 per sqft

Sold

16,123 sqft

Residential

Built in 1963

Listed by MARK SANFILIPPO with MARCUS & MILLICHAP 909-456-7000

NOTE: Property must be sold with 826 North Barranca Avenue, Covina under one transaction. $7,600,000 is for BOTH properties. ML Number: 15255177

This investment offering is located at 514 East Cypress Street and 826 North Barranca Avenue is a 40-unit asset located in the City of Covina, California. Built in 1961 and 1963, the property consists of four, two-story buildings that surround two landscaped center courtyards, with pools and two laundry facilities.

The complex is conveniently located between both the Foothill (210) and Pomona (10) Freeways. There is a park and senior center directly across the street from The Bahamas making the property attractive to families.

At a CAP rate of over 4.5%, The Bahamas provides an investor the opportunity to acquire an excellent asset at an exceptional price in an area that is in one of the highest in demand of any in the San Gabriel Valley.

Investment Highlights
| Central Air and Individual Water Heaters
| 62 Parking Spaces with 3 2-Car Garages that can be Rented
| Large Units with Patios
| Gated Communities
| Below Market Rents
| Surrounded by Single Family Residences
| Across from a Park and Senior Center
All Second Bathroom have Tubs which can be Upgraded

CV15255117

MLSⓇ ID

March 18, 2024

Updated

Interior Features

Fireplace: No
Cooling: No
Heating: No

Exterior/Building Features

Lot Size: 0.64 Acres
Lot Features: Corner Lot, Landscaped, Level

Other Property Details

Area Name: 614 - Covina
Days on Market: 108
Garage: No
Parking: Carport
Parking Total: 38
View: No
County: Los Angeles
Water Source: Public
Pool: Yes
Pool Features: Fenced, In Ground
Utilities: Sewer Connected

Listing Contact: 909-456-3400

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/18/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 3/18/2024 at 7:20 PM UTC