1033 Cypress Street
$2,200,000
9
9
5,133
5,133
$429
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...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.
- Listed by Edward Pan • DRE #01894476 • Brokerage DRE #01895979 • Colliers International Greater Los Angel
Property Details for 1033 Cypress Street
Zoning
LCR3*
Parcel Number8420014052
Total Units6.0
Living Area5133
Source Living AreaVendor Enhanced
AreaCovina (614)
Vacancy Rate0
Lot Size Area7716
LISTING UPDATED: 11/09/2024 12:01 AM
Property Details for 1033 Cypress Street
Status | Active |
---|---|
MLS # | 24-459205 |
Days on Market | 51 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1963 |
Lot Size | 0.18 AC / 7,716 SF |
County | Los Angeles County |
Building Information for 1033 Cypress Street
Stories2Residences-Year Built1963Building Size-Lot Size0.18 AC / 7,716 SF
Property Information for 1033 Cypress Street
Property History for 1033 Cypress Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1033 Cypress Street
Taxable ValueLand$1,173,374Additions$426,880Total$1,600,254
Tax Record2024$21,006 ($1,750 / month)
Home Facts
Total Finished SqFt5,133 SqFtAbove Grade Finished SqFt5,133 SqFtLot Size7,713 SqFtStyleMulti-Family Res (5+ Units)Year Built1963ZoningLCR3*CountyLOS ANGELESAPN8420-014-052
Schools near 1033 Cypress Street
This home is within Covina-Valley Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Cypress Elementary School PublicK to 5 | ||
Las Palmas Middle School Public6 to 8 | ||
Northview High School Public9 to 12 | ||
Fairvalley High (Continuation) School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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