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Listed by Handoko Chen, DRE #01749321 • Growth Investment Group Pasade
$ 4,498,000
Est. payment /mo
Active
21306 E Arrow Covina, CA 91724
0.8 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRAR26165785
Year Built 1963
Lot Size 0.801 Acres
Source California Regional MLS
Property Description
First Time for Sale Since 1975 - Exceptionally Rare 16-Unit Single-Story Value-Add Multifamily across from City of Glendora and at the border of San Dimas, Offering Over 8% Pro Forma CAP Rate (All Month-to-Month Tenants). Centrally Located Near Shopping, Major Freeways, and Minutes from Colleges and Universities. Excellent Unit Mix (All 2-Bed), Situated on a Large, Over-Parked Lot with Clear ADU Upside Potential (Possibly 4 ADUs - Buyer to Verify). Total 4 Units Will Be Delivered Vacant. Copper Plumbing, Roof mostly upgraded recently. 21306-21310 E Arrow Highway, Covina, CA 91724 - a rare single-story layout multifamily investment opportunity located in the City of Covina. This is the first time this property offered for sale since 1975 (50 years). This value-add investment provides an excellent opportunity for savvy investors to increase the return to market level (over 8% CAP Rate - ALL tenants are month-to-month) and add several ADUs on the lot (buyer to verify). The property is strategically located on E Arrow Highway right across from the City of Glendora and at the border of City of San Dimas, and within blocks away from multiple shopping and dining (San Dimas Plaza, Glendora Public Market, etc.). Built in 1963, the property is a single-story garden-style apartment co
Location
State CA
County Los Angeles
Area 614 - Covina
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Flooring Laminate
Laundry Gas Hookup, 30, Washer/Dryer - Owned
Exterior
Parking Features Assigned Spaces, Carport
Garage Spaces 24.0
Pool 31, None
View None
Roof Type Shingle
Building
Lot Description Grade - Level
Story One Story
Foundation Concrete Slab
Water District - Public
Others
Tax ID 8401021060
Special Listing Condition Not Applicable
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