221 West Dexter Street
$3,700,000
5
8
11,096
11,096
$333
New
Description
Great opportunity to purchase a 14 unit apartment building near downtown Covina. The building offers eight 2-bedroom/1-bathroom units and six 1-bedroom/1-bathroom units. The exterior has been recently and completely repainted, and the parking and asphalt areas have been fully redone. The property features manicured grounds with a spacious interior courtyard for residents to enjoy. One of the two-bedroom units is completely remodeled and currently unrented, with an estimated rental income of $2,200...Great opportunity to purchase a 14 unit apartment building near downtown Covina. The building offers eight 2-bedroom/1-bathroom units and six 1-bedroom/1-bathroom units. The exterior has been recently and completely repainted, and the parking and asphalt areas have been fully redone. The property features manicured grounds with a spacious interior courtyard for residents to enjoy. One of the two-bedroom units is completely remodeled and currently unrented, with an estimated rental income of $2,200 per month. The remaining seven two-bedroom units are currently rented at $1,400 per month, and the one-bedroom units are rented at $1,240 per month. The current gross income is $239,520, and with rent increases due in May, this will rise to $257,725.44. The operating income, factoring in the new property taxes at a rate of 1.25%, will be $69,225.60. Calculating with a 3% vacancy rate, the cap rate for this building is currently at 4.4%, which, with the upcoming rent increases in May, will increase to 4.9%.
- Listed by Nicholas Abbadessa • DRE #01398872 • Brokerage DRE #01064901 • RE/MAX MASTERS REALTY • 909-292-7888
Property Details for 221 West Dexter Street
View
None
Parking Spaces Total23
Private PoolNo
Cooling TypeWall/Window
Total Units14.0
Building TypeDetached
Lot Size SourceAssessor
Living Area11096
LISTING UPDATED: 11/22/2024 10:04 AM
Property Details for 221 West Dexter Street
Status | Active |
---|---|
MLS # | CV24238095 |
Days on Market | 1 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1960 |
County | Los Angeles County |
Building Information for 221 West Dexter Street
Building/Complex221 W Dexter StFloor-Stories2Residences-Pet Policy-Year Built1960Building Size-
Property Information for 221 West Dexter Street
Property History for 221 West Dexter 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 221 West Dexter Street
Taxable ValueLand$400,382Additions$1,318,737Total$1,719,119
Tax Record2024$25,059 ($2,088 / month)
Home Facts
Total Finished SqFt11,096 SqFtAbove Grade Finished SqFt11,096 SqFtLot Size20,440 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningCVR3-RD125CountyLOS ANGELESAPN8444-007-025
Schools near 221 West Dexter 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 |
---|---|---|
Workman Avenue Elementary School PublicK to 5 | ||
Traweek Middle School Public6 to 8 | ||
Covina 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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