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109 N Fairway Ln, West Covina, CA 91791
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109 N Fairway Ln West Covina, CA 91791

$9,950,000 Sold Price as of 12/17/2021
  • 49 Beds
  • 36 Baths
  • 26,232 Sq.Ft.
Sold
$9,950,000 Sold Price as of 12/17/2021 Refinance Your Mortgage
Map preview of 109 N Fairway Ln, West Covina, CA 91791

Property Overview: 109 N Fairway Ln West Covina, CA has 49 bedrooms, 36 bathrooms, 26,232 living square feet and 43,995 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The Covina Gardens Apartment Homes is an attractive garden style 36-unit investment opportunity in the desirable City of West Covina. The Covina Gardens Apartments is a very well-maintained property situated on over an acre of land. The property has a very desirable unit mix consisting of (24) one bedroom/one bath units, (11) two/one bath units and (1) three bedroom/one bath units. Property amenities include covered carport parking, laundry facilities, wall air conditioning units, ceiling fans, and microwaves. Covina Gardens Apartments has been owned in the same family for many years and is a unique investment opportunity due to its high-quality location and significant upside potential.

Listed by Jay Skenderian | BRE #01220368 | Morgan Skenderian
Last checked: 31 seconds ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 15

Home details

Lot Sq. Ft
43,995
HOA Dues
$0/mo
Year built
1959
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
PW21215353
City
West Covina
County
Los Angeles
Time on Site
1087 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 36
  • Total # of Buildings: 2
  • # of Electric Meters: 36
  • # of Gas Meters: 36
  • # of Water Meters: 36
Unit Breakdown 1
  • # of Units: 24
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,325
  • Total Rent: $37,275
  • Pro Forma/Market Rent: $40,680
Unit Breakdown 2
  • # of Units: 11
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $18,820
  • Pro Forma/Market Rent: $20,845
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,150
  • Total Rent: $2,150
  • Pro Forma/Market Rent: $2,150
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4%
  • Gross Rent Multiplier: 14.07
  • Gross Scheduled Income: $707,340
  • Net Operating Income: $396,948
  • Gross Operating Income: $686,119
  • Vacancy Allowance: $21,220
Annual Expense Breakdown
  • Total Operating Expense: $289,171
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $11,500
  • Professional Management: $21,600
  • Water/Sewer: $0

Property Details for 109 N Fairway Ln

Interior Features
Laundry Information
  • Has Laundry
  • Community
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 31-35 Units/Acre
  • Lot Size Source: Public Records
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 36
  • Parcel Number: 8451015019
  • Year Built Source: Public Records
  • Property is Attached
  • Has Additional Parcels
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • Has Assessments
  • Assessments: Special Assessments
Location / Neighborhood
Location Information
  • Directions: North of the 10 Fwy and West of S. Grand Ave
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local West Covina Agent

Sale History for 109 N Fairway Ln

Last sold for $9,950,000 on December 17th, 2021

  • October, 2021

  • Oct 13, 2021

    Date

    Pending

    CRMLS: PW21215353

    $9,950,000

    Price

Tax History for 109 N Fairway Ln

Assessed Value (2020): $2,221,191
Year Land Value Improved Value Assessed Value
2020 $1,496,416 $724,775 $2,221,191

Home Value Compared to the Market

This property vs the competition

109 N Fairway Ln sold on December 17, 2021 for 1134.97% higher than the current median sold price for the city of West Covina which is $805,685. The median sold price per/sqft for West Covina is $520 and this home is sold at $379.31 per/sqft which puts the price per square foot 27.06% lower than the current median sale per square foot for the city of West Covina.

About 109 N Fairway Ln

Detailed summary of property

109 N Fairway Ln is a multi family that recently sold in West Covina, CA 91791. This multi family property offered 49 bedrooms, 36 bathrooms, roughly 26,232 living square feet, and sits on an approximately 43,995 square foot lot. 109 N Fairway Ln was first listed on ArdentRealEstateGroup.com on September 28, 2021. The homeowner sold the property for $9,950,000. Home in West Covina are selling for a median price of $805,685 and a median price per square foot of $520. Based on Ardent Real Estate Group's West Covina Market Data, this home is sold 1134.97% higher than the current median priced home. Local homes that are currently for sale include 115 Apolena Ave, 207 E Edgewater Ave and 1215 N Sycamore Ave. While the average home in West Covina, CA is selling in 58 days, 109 N Fairway Ln has a days on market of 15 days. There are currently 117 homes for sale in the West Covina real estate market and 82 of them are single family homes while 25 of them are condos and 10 are townhomes. For more information on this home for sale at 109 N Fairway Ln West Covina, CA 91791 contact Ardent Real Estate Group and we will put you in touch with one of our West Covina agents.

Public Facts for 109 N Fairway Ln

Public county record property details
Beds
--
Baths
18
Year built
1959
Sq. Ft.
12,928
Lot Size
23,350
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
8
APN
8451-015-019

The source for these homes facts are from public records.

91791 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$999,999
Median List Price/Sq.Ft.
$484
Median Sold Price
$800,000
Median Sold Price/Sq.Ft.
$450
Total Inventory
43
Median Sale to List Price %
114.45%
Avg Days on Market
35
Loan Type
Conventional (40%), FHA (0%), VA (0%), Cash (50%), Other (10%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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