544 S 1st Avenue #3, Covina, CA 91723 - Berkshire Hathaway HomeServices California Properties

544 S 1st Avenue #3, Covina, CA 91723

$1,200,000 Approx. USD 0 beds, 0 baths

Listing Agent


Kristopher German | kris@theapartmentdealer.com
Lic#: 01800021
Broker: Courtesy of RE/MAX 2000 REALTY

Agent Remarks

Probate Sale! 5 Units in Covina! We are pleased to exclusively offer for sale this value-add opportunity which is comprised of of two (2-Bedroom/1-Bathroom) units and three (1-Bedroom/1-Bathroom) units, totaling 3,788 rental square feet on a 7,827 square foot lot. This asset provides desirable tenant amenities including an onsite laundry facility and covered car-port parking, enhancing the living experience and convenience for residents. Each unit is individually metered for electricity (all electric building), offering efficiency in utility management while the owner covers the water and trash expenses. Notably, three of the units will be delivered vacant, presenting an immediate opportunity to adjust rental rates to current market levels. The property boasts a potential 6.78% market CAP Rate and an 10.67 market Gross Rent Multiplier (GRM), illustrating its profitability and appeal as an investment. This probate sale requires court confirmation and is to be sold in "as-is" condition. Importantly, no loan contingency is allowed and the terms stipulate the need to close escrow in 30 days or less. This property represents a prime investment with significant upside potential in a sought-after Covina location.

Listing Details

Property type: Apartment (Multi-Family)
Status: Pending
MLS# CV25040761
Price: $1,200,000
HOA Fee is $0.00
Beds: 0
Baths: 0
None fireplaces
Built in 1962
2 stories
0.18 acres
Lot size: 0.1797
County: Los Angeles
Zoning: CVR3-RD1250*
Parking description: Attached Carport
Lot description: ZeroToOneUnitAcre
Heating/cooling: Wall/Window Unit(s)
Heating description: Central
MLS area: 614 - Covina

Last Updated: 5/30/2025

 Days On Market (DOM): 26

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This listing belongs to the 614 - Covina MLS area

Lat/Long: 34.079825, -117.884954.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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