19531 East Cienega Avenue
$6,588,000
40
40
16,191
16,191
$407
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.
- Listed by Edward Pan • DRE #01894476 • Brokerage DRE #01895979 • Colliers International Greater Los Angel
Property Details for 19531 East Cienega Avenue
Zoning
LCA17500*
Parcel Number8404002038
Total Units20.0
Living Area16191
Source Living AreaVendor Enhanced
AreaCovina (614)
Vacancy Rate0
Lot Size Area40957
LISTING UPDATED: 09/24/2024 11:00 PM
Property Details for 19531 East Cienega Avenue
Status | Active |
---|---|
MLS # | 24-433699 |
Days on Market | 66 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1988 |
Lot Size | 0.94 AC / 40,957 SF |
County | Los 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
Property History for 19531 East Cienega Avenue
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 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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