18620 Palo Verde Avenue

Cerritos, CA 90703

$1,850,000
Price
8
Beds
7
Baths
4,084 Sq. Ft.
$453 / Sq. Ft.
4,084
Sq. Ft.
$453
per Sq. Ft.

Description

Highly desired "Covington Home Quadruplex" in an EXCELLENT LOCATION! RARELY on the market! Stand alone 4 Unit Building. Excellent condition with LONG TERM tenants. Beautiful manicured lawn with auto sprinklers. Open walk ways and yard. This 4 unit feels like its own private community! Front unit (A) is single level with 3 bedrooms, 2 baths, fireplace, front porch area, and a 1 car garage. Unit B is a single level with 2 bedroom, 2 baths and 2 single garages. Unit C is a 2 bedroom, 2 bath upper unit...Highly desired "Covington Home Quadruplex" in an EXCELLENT LOCATION! RARELY on the market! Stand alone 4 Unit Building. Excellent condition with LONG TERM tenants. Beautiful manicured lawn with auto sprinklers. Open walk ways and yard. This 4 unit feels like its own private community! Front unit (A) is single level with 3 bedrooms, 2 baths, fireplace, front porch area, and a 1 car garage. Unit B is a single level with 2 bedroom, 2 baths and 2 single garages. Unit C is a 2 bedroom, 2 bath upper unit with a 1 car garage and a balcony. Unit D is a 1 bedroom, 1 bath upper unit with a 1 car garage. Units A, B and C all have Central Air and Forced Heating. Unit D has a wall window AC & Wall Heater. ALL 5 garages have newer roll up doors with auto openers and battery back ups, are deep and have a large storage cabinet inside. There is a coin operated Laundry room-owned by Seller and a large central water Heater for these 4 units-on a separate owner meter. Tenants pay their own gas & electric (4 separate meters). GREAT schools, Cerritos Mall, restaurants and Cerritos Performing Arts Center, all located nearby. An Investors DREAM!
  1. Listed by Cindy Berg • DRE #01190975 • Brokerage DRE #00931171 • Century 21 Discovery • 714-272-0779

Property Details for 18620 Palo Verde Avenue

Parking Spaces Total
5
Private Pool
No
Cooling Type
Central Forced Air, Wall/Window
Total Units
4.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4084
Assessor Parcel Number
7038-006-013
LISTING UPDATED: 12/12/2024 05:05 AM

Property Details for 18620 Palo Verde Avenue

StatusActive
MLS #PW24212013
Days on Market63
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1969
Lot Size0.17 AC / 7,423 SF
CountyLos Angeles County

Building Information for 18620 Palo Verde Avenue

Stories2Residences-Year Built1969Building Size-Lot Size0.17 AC / 7,423 SF

Property Information for 18620 Palo Verde Avenue

Rental Info
Rental Info
  • Tenant Pays: Cable TV, Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $101,640
  • Gross Scheduled Income: $101,640
  • Net Operating Income: $94,711
  • Laundry Income: $840
Expense Details
  • Operating Expense: $6,929
  • Gardener Expense: $960
  • Fuel Expense: $980
  • Electric Expense: $313
  • Insurance Expense: $1,825
  • Trash Expense: $1,207
  • Water Sewer Expense: $1,644
  • Total Expenses: $6,929
Tax / Assessment Info
  • Tax Tract Number: 30548
  • Tax Census Tract: 5545.21
  • CFD/Mello-Roos Fee: $1,110
  • Tax Lot: 2
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Dryer Included, Individual Room, Washer Included
  • Fireplace Features: Family Room
  • Fireplace Rooms: Family Room
  • Cooling: Central Air, Wall/Window Unit(s)
  • Heating Type: Forced Air, Wall
  • Heating: Forced Air, Wall Furnace
  • Heat Equipment: Forced Air Unit
  • Flooring: Carpet, Vinyl
Exterior Features
  • Entry Location: ground + 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Front Yard, Lawn, Level, Sprinkler System, Sprinklers Timer, Yard
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Electric: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 5
  • Parking Garage: Door Opener, Garage, Garage - 1 Car, On street
  • Parking Garage Spaces: 5
  • Carport Spaces: 0
  • Parking Features: Garage, Garage Faces Rear, Garage - Single Door, Garage Door Opener, Street
Property / Structure Info
  • Builder Name: Covington
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,400
  • Unit Type Total Rent: $2,400
  • Unit Type Pro Forma: 2800
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,300
  • Unit Type Total Rent: $2,300
  • Unit Type Pro Forma: 2600
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,025
  • Unit Type Total Rent: $2,025
  • Unit Type Pro Forma: 2400
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,675
  • Unit Type Total Rent: $1,675
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 4
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 4
  • Number With Range: 4
  • Number With Carpet: 4
  • Number With Patio: 2
  • Number Wall AC: 1

Property History for 18620 Palo Verde Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 18620 Palo Verde Avenue

Taxable ValueLand$102,084Additions$494,571Total$596,655
Tax Record2024$7,821 ($652 / month)
Home Facts
Total Finished SqFt4,084 SqFtAbove Grade Finished SqFt4,084 SqFtLot Size7,421 SqFtStyleQuadraplexYear Built1969ZoningCERMCountyLOS ANGELESAPN7038-006-013

Schools near 18620 Palo Verde Avenue

This home is within Bellflower Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 12
Public - K to 12
Public - K to 6
Rating
School
Distance
Esther Lindstrom Elementary School
PublicK to 6

Mayfair High School
Public7 to 12

Intensive Learning Center
PublicK to 6

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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18620 Palo Verde Avenue is a multi-family home for sale in Cerritos, CA 90703. This property was listed for sale on October 12, 2024 by Century 21 Discovery, it's currently listed at $1,850,000. It has been on the market for a total of 63 days and was last sold on August 16, 1994. This listing's school district is Bellflower Unified School District. Nearby schools include Esther Lindstrom Elementary School, Mayfair High School and Las Flores Home Education Independent Study Academy. 18620 Palo Verde Avenue is a 8-bed, 7-bath, 4,084 sqft multi-family home built in 1969.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Century 21 Discovery, Cindy Berg, DRE #01190975

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.