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224 N Vecino Dr, Covina, CA 91723
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224 N Vecino Dr Covina, CA 91723

$1,200,000 Sold Price as of 04/02/2024
  • 8 Beds
  • 4 Baths
  • 3,084 Sq.Ft.
Sold
$1,200,000 Sold Price as of 04/02/2024 Refinance Your Mortgage
Map preview of 224 N Vecino Dr, Covina, CA 91723

Property Overview: 224 N Vecino Dr Covina, CA has 8 bedrooms, 4 bathrooms, 3,084 living square feet and 8,406 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to exclusively offer for sale a prime investment opportunity located in the city of Covina offering a unit mix of four spacious 2-Bed/1-Bath units. This property boasts ample onsite carport and open-space parking, enhancing tenant convenience. An added benefit is the onsite coin-operated laundry facility, contributing to both tenant satisfaction and additional revenue. Significant capital improvements have been made to increase the property's value and appeal. A new roof was installed in 2022, interior upgrades include; new kitchens, bathrooms, and flooring in most units, reflecting modern tastes and standards. Furthermore, two units have been upgraded with copper piping, emphasizing the commitment to quality infrastructure. Situated in an excellent rental location, the property offers easy access to transportation and shopping, ensuring sustained tenant demand. This investment opportunity offers 35% upside in rental income for a savvy investor familiar with repositioning tenancy. The property is currently tenant occupied (all units) and will be sold with the tenants in place.

Listed by Kristopher German | BRE #01800021 | RE/MAX 2000 REALTY
Last checked: 5 minutes ago | Last updated: April 2nd, 2024 | Source CRMLS | DOM: 5

Home details

Lot Sq. Ft
8,406
HOA Dues
$0/mo
Year built
1958
Garage
--
Property Type:
Apartment
Status
Sold
MLS#
CV24027715
City
Covina
County
Los Angeles
Time on Site
233 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
  • # of Leased Units: 4
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,550
  • Total Rent: $1,550
  • Pro Forma/Market Rent: $2,095
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,550
  • Total Rent: $1,550
  • Pro Forma/Market Rent: $2,095
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,550
  • Total Rent: $1,550
  • Pro Forma/Market Rent: $2,095
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,650
  • Total Rent: $1,650
  • Pro Forma/Market Rent: $2,095
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $77,160
  • Net Operating Income: $48,843
  • Gross Operating Income: $74,845
  • Vacancy Allowance: $2,315
  • Laundry Income: $1,560
Annual Expense Breakdown
  • Total Operating Expense: $26,003
  • Electric: $1,200
  • Gas/Fuel: $960
  • New Taxes: $14,059
  • Trash: $2,142
  • Insurance: $2,500
  • Maintenance: $3,000
  • Water/Sewer: $2,142

Property Details for 224 N Vecino Dr

Interior Features
Laundry Information
  • Has Laundry
  • Community
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 9
Lot Information
  • Lot Features: 2-5 Units/Acre, Lot 6500-9999
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 4
  • Parcel Number: 8429027008
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: North of I-10, West of CA-57; Near the Intersection of E Kenoak Dr & N Grandview Ave
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks
View more facts & features

Local Covina Agent

Sale History for 224 N Vecino Dr

Last sold for $1,200,000 on April 2nd, 2024

  • April, 2024

  • Apr 2, 2024

    Date

    Sold

    CRMLS: CV24027715

    $1,200,000

    Price

  • Feb 8, 2024

    Date

    Active

    CRMLS: CV24027715

    $1,200,000

    Price

  • June, 2015

  • Jun 24, 2015

    Date

    Sold (Public Records)

    Public Records

    $664,000

    Price

Show More

Tax History for 224 N Vecino Dr

Assessed Value (2020): $729,693
Year Land Value Improved Value Assessed Value
2020 $439,575 $290,118 $729,693

Home Value Compared to the Market

This property vs the competition

224 N Vecino Dr sold on April 2, 2024 for 53.2% higher than the current median sold price for the city of Covina which is $783,315. The median sold price per/sqft for Covina is $502 and this home is sold at $389.11 per/sqft which puts the price per square foot 22.49% lower than the current median sale per square foot for the city of Covina.

About 224 N Vecino Dr

Detailed summary of property

224 N Vecino Dr is a apartment that recently sold in Covina, CA 91723. This apartment offered 8 bedrooms, 4 bathrooms, roughly 3,084 living square feet, and sits on an approximately 8,406 square foot lot. 224 N Vecino Dr was first listed on ArdentRealEstateGroup.com on February 8, 2024. The homeowner sold the property for $1,200,000. Home in Covina are selling for a median price of $783,315 and a median price per square foot of $502. Based on Ardent Real Estate Group's Covina Market Data, this home is sold 53.2% higher than the current median priced home. Local homes that are currently for sale include 10344 Parise Dr, 308 N Begonia Ave and 110 Orange Grove Ave. While the average home in Covina, CA is selling in 49 days, 224 N Vecino Dr has a days on market of 5 days. There are currently 110 homes for sale in the Covina real estate market and 81 of them are single family homes while 18 of them are condos and 11 are townhomes. For more information on this home for sale at 224 N Vecino Dr Covina, CA 91723 contact Ardent Real Estate Group and we will put you in touch with one of our Covina agents.

Public Facts for 224 N Vecino Dr

Public county record property details
Beds
8
Baths
4
Year built
1958
Sq. Ft.
3,084
Lot Size
8,405
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
7
APN
8429-027-008

The source for these homes facts are from public records.

91723 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$725,000
Median List Price/Sq.Ft.
$528
Median Sold Price
$770,000
Median Sold Price/Sq.Ft.
$490
Total Inventory
21
Median Sale to List Price %
100%
Avg Days on Market
34
Loan Type
Conventional (57.14%), FHA (14.29%), VA (0%), Cash (14.29%), Other (14.29%)

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Homes for Sale Near 224 N Vecino Dr

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Recently Sold Homes Near 224 N Vecino Dr

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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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