19531 East Cienega Avenue

Covina, CA 91724

$6,588,000
Price
40
Beds
40
Baths
16,191 Sq. Ft.
$407 / Sq. Ft.
16,191
Sq. Ft.
$407
per Sq. Ft.

Description

Price improvement motivated seller bring all offers. We are pleased to present for sale a 20-unit multifamily property situated at 19531 E Cienega Ave in Covina. This property offers investors the opportunity to acquire a pride-of-ownership, value-add real estate asset in the heart of the San Gabriel Valley. Constructed in 1988, the property features a favorable unit mix consisting entirely of large 2-bedroom, 2-bathroom units. The units total approximately 16,191 square feet on a spacious 0.94-acre...Price improvement motivated seller bring all offers. We are pleased to present for sale a 20-unit multifamily property situated at 19531 E Cienega Ave in Covina. This property offers investors the opportunity to acquire a pride-of-ownership, value-add real estate asset in the heart of the San Gabriel Valley. Constructed in 1988, the property features a favorable unit mix consisting entirely of large 2-bedroom, 2-bathroom units. The units total approximately 16,191 square feet on a spacious 0.94-acre lot. Each unit includes its own patio or balcony and is separately metered for gas and electricity, providing added convenience. The property boasts an onsite laundry facility, a swimming pool, and secure gated entries. Parking accommodations include ample carports and uncovered spaces on the large lot. Offered on the market for the first time in over 20 years, the majority of the units have been renovated by the owner. Current rents are significantly below market, providing over 25% upside on rents. Additionally, there is potential for extra rental income by adding accessory dwelling units (ADU), subject to verification by the buyer. Strategically positioned, 19531 E Cienega Ave offers convenient access to a multitude of amenities and attractions. The property is located in close proximity to supermarkets, national retailers, restaurants, and schools, with easy access to major transportation arteries, including the 210 and 10 freeways and the Covina Metrolink Station. This sought-after location provides investors with the prospect of acquiring a lucrative multifamily asset poised to generate substantial cash flow while offering a hedge against inflation in the thriving city of Covina.
  1. Listed by Edward Pan • DRE #01894476 • Brokerage DRE #01895979 • Colliers International Greater Los Angel

Property Details for 19531 East Cienega Avenue

Zoning
LCA17500*
Parcel Number
8404002038
Total Units
20.0
Living Area
16191
Source Living Area
Vendor Enhanced
Area
Covina (614)
Vacancy Rate
0
Lot Size Area
40957
LISTING UPDATED: 09/24/2024 11:00 PM

Property Details for 19531 East Cienega Avenue

StatusActive
MLS #24-433699
Days on Market87
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1988
Lot Size0.94 AC / 40,957 SF
CountyLos Angeles County

Building Information for 19531 East Cienega Avenue

Stories2Residences-Year Built1988Building Size-Lot Size0.94 AC / 40,957 SF

Property Information for 19531 East Cienega Avenue

Community / Development
Community / Development
  • Number Of Units: 20
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartment
  • Security Features: Carbon Monoxide Detector(s), Gated, Smoke Detector
  • Property Condition: Updated/Remodeled
  • Water Heaters: Yes
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $441,410
  • Net Operating Income: $276,871.00
  • Gross Income: $8,366
  • Cap Rate: 4.20%
  • Gross Rent Multiplier: $14.76
  • Actual Annual Gross Rent: $446,437.00
  • Actual Gross Annual Income: $454,803
  • Other Income1: $1,366.00
  • Laundry Income: $7,000
  • Vacancy Allow Dollar: $13,393.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 164538
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.9402
  • Lot Size Square Feet: 40957
  • Lot Size Dimensions: 161x260
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 44
  • Parking Features: Carport
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Central Air
  • Cooling Type: Ceiling Fan, Central
  • Heating: Central
  • Heating Type: Central
  • Equipment: Ceiling Fan, Dishwasher, Range/Oven
  • Interior Features: Ceiling Fan(s)
  • Laundry: Community
Exterior Features
Exterior Features
  • Pool: Yes
  • Pool Description: Fenced, In Ground
  • Pool Features: Fenced, In Ground
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-30-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,860.00
  • Unit Actual Rent: $37,203.00
  • Unit Projected Rent: $47,000.00
  • Like Units: 20
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,129,696.00
  • Assessed Improvement Percent: 49.37
  • Assessed Land Value: $1,158,665.00
  • Assessed Land Percent: 50.63
  • Assessed Total Value: $2,288,361.00

Property History for 19531 East Cienega 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 19531 East Cienega Avenue

Taxable ValueLand$1,181,838Additions$1,154,969Total$2,336,807
Tax Record2024$31,863 ($2,655 / month)
Home Facts
Total Finished SqFt16,191 SqFtAbove Grade Finished SqFt16,191 SqFtStories2Lot Size40,945 SqFtStyleMulti-Family Res (5+ Units)Year Built1988ZoningLCA17500*CountyLOS ANGELESAPN8404-002-038

Schools near 19531 East Cienega Avenue

This home is within Charter Oak Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - K to 12
Rating
School
Distance
Cedargrove Elementary School
PublicK to 6

Royal Oak Middle School
Public7 to 8

Charter Oak High School
Public9 to 12

Oak Knoll Alternative School
PublicK 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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19531 East Cienega Avenue is a multi-family home for sale in Covina, CA 91724. This property was listed for sale on August 29, 2024 by Colliers International Greater Los Angel, it's currently listed at $6,588,000. It has been on the market for a total of 87 days and was last sold on June 1, 2001. This listing's school district is Charter Oak Unified School District. Nearby schools include Cedargrove Elementary School, Royal Oak Middle School and Charter Oak High School. 19531 East Cienega Avenue is a 40-bed, 40-bath, 16,191 sqft multi-family home built in 1988.

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 Colliers International Greater Los Angel, Edward Pan, DRE #01894476

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.