1033 W Cypress Street

Covina, CA 91722

$2,200,000

List Price

9

bed Beds

9

shower Baths

5,133 sqft

straighten / sqft

1963

calendar_month Built

Property Description

We are pleased to present 1033 W Cypress St, a well-maintained 6-unit multifamily property in Covina, California. This prime investment opportunity offers stable tenancy in the sought-after Southern California rental market. Built in 1963, this two-story building features a desirable unit mix, including one studio, two 1-bedroom/1-bath units, and three 2-bedroom/1.5-bath units. The property offers amenities such as an on-site laundry facility, covered parking, and individual gas and electricity meters for each unit. Additionally, all units are equipped with wall-mounted air conditioning, and most have undergone significant upgrades. The property benefits from a solid tenant base, with current rents below market levels, providing great rental upside. With no local rent control in Covina, investors can capitalize on the ability to implement rent increases in line with California AB1482 guidelines. Strategically located, the property is across from Northview High School and within walking distance to other local schools. Tenants enjoy easy access to Covina's charming downtown, which offers a variety of restaurants, shops, and entertainment options. The property is also close to the Covina Metrolink station and major thoroughfares, including the 10 and 210 freeways, providing convenient commutes. This offering presents a rare opportunity to acquire a stable, income-producing asset with significant potential for rental growth and long-term appreciation in one of Southern California's resilient rental markets.

Listing Information

List Price $2,200,000
Status Active
MLS 24459205
Type Residential Income
Year Built 1963
Lot Size 7,716
Structure Size 5,133
Courtesy Of Colliers International Greater Los Angel
Listing Agent Edward Pan DRE#01894476

Interior Features

Total Bedroom
Bedrooms 9
Total Bathroom
Bathrooms 9

Exterior Information

Maps

Listing information courtesy of: Edward Pan, Colliers International Greater Los Angel 213-532-3290. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 1st, 2024 at 6:56 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.