11,096 sqft

$3,402,000

221 W Dexter Street, Covina CA, 91723

Price per sqft$306.60

Built in1960

Property size11,096 sqft

Property typeCondominium

Bought with Benjamin J. Hsiang with Realty Investment Advisors, Inc. and Listed by Nicholas Abbadessa CA DRE# 01398872 with RE/MAX MASTERS REALTY 909-292-7888

Overview

Sold

Closed

Listed Nov 22, 2024

Updated Jun 19

Great opportunity to purchase a 14 unit apartment building near downtown Covina. The building offers eight 2-bedroom/1-bathroom units and six 1-bedroom/1-bathroom units. The exterior has been recently and completely repainted, and the parking and asphalt areas have been fully redone. The property features manicured grounds with a spacious interior courtyard for residents to enjoy. One of the two-bedroom units is completely remodeled and currently unrented, with an estimated rental income of $2,200 per month. The remaining seven two-bedroom units are currently rented at $1,400 per month, and the one-bedroom units are rented at $1,240 per month. The current gross income is $239,520, and with rent increases due in May, this will rise to $257,725.44. The operating income, factoring in the new property taxes at a rate of 1.25%, will be $69,225.60. Calculating with a 3% vacancy rate, the cap rate for this building is currently at 4.4%, which, with the upcoming rent increases in May, will increase to 4.9%.

Additional information

MLS^® ID: CV24238095

Interior Features

Cooling: Yes
Heating: Yes
Basement: No

Exterior Features

Lot Size: 0.47 Acres

Other Property Details

Maintenance Expense: $3,144
Garage: Yes
55+/Senior Community: No

Bought with Benjamin J. Hsiang with Realty Investment Advisors, Inc. and Listed by Nicholas Abbadessa CA DRE# 01398872 with RE/MAX MASTERS REALTY 909-292-7888

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 6/19/2026. 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 6/19/2026 at 1:20 PM UTC Last Checked: 1:20 PM UTC