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247 E Orlando Way, Covina, CA 91723
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247 E Orlando Way Covina, CA 91723

$1,818,150 Sold Price as of 12/28/2022
  • 10 Beds
  • 8 Baths
  • 4,830 Sq.Ft.
Sold
$1,818,150 Sold Price as of 12/28/2022 Refinance Your Mortgage
Map preview of 247 E Orlando Way, Covina, CA 91723

Property Overview: 247 E Orlando Way Covina, CA has 10 bedrooms, 8 bathrooms, 4,830 living square feet and 7,801 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Incredible opportunity to acquire a multi-family investment property in the highly desirable area of Covina. Very well-maintained, owned by the same owner since 1972! This property is composed of seven units, one of the units features three-bedrooms, two-bathrooms, inside laundry room and a backyard. Another unit features two-bedrooms, one-bathroom, and the rest are one-bedroom, 1-bathroom. Other features include seven carport spaces, all new windows, all around flood lighting, new exterior paint, and newly refinished wood flooring in four of the units. The property is conveniently located near the Eastland Shopping Center, IKEA, and the 10 Freeway! Rents are scheduled to go up as of March 2023, which will make cap rate to be 5.02%. Buyer to complete their own due diligence in regards to all aspects of the property, including income, expenses and potential rents.

Listed by THE MARK AND AL TEAM | BRE #00914322 | CENTURY 21 FULL REALTY SEVICES
Last checked: 7 minutes ago | Last updated: December 28th, 2022 | Source CRMLS | DOM: 21

Home details

Lot Sq. Ft
7,801
HOA Dues
$0/mo
Year built
1957
Garage
--
Property Type:
Mixed Use
Status
Sold
MLS#
CV22225462
City
Covina
County
Los Angeles
Time on Site
700 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 1
  • # of Electric Meters: 8
  • # of Gas Meters: 8
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,720
  • Total Rent: $1,720
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,495
  • Total Rent: $1,495
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,095
  • Total Rent: $1,095
  • Pro Forma/Market Rent: $1,625
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,495
  • Total Rent: $1,495
  • Pro Forma/Market Rent: $1,625
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,595
  • Total Rent: $1,595
  • Pro Forma/Market Rent: $1,625
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,295
  • Total Rent: $1,295
  • Pro Forma/Market Rent: $1,625
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,595
  • Total Rent: $1,595
  • Pro Forma/Market Rent: $1,625
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.62%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $122,280
  • Net Operating Income: $82,884
  • Gross Operating Income: $118,608
  • Vacancy Allowance: $3,672
Annual Expense Breakdown
  • Total Operating Expense: $35,724
  • Electric: $564
  • Gas/Fuel: $432
  • New Taxes: $22,800
  • Trash: $3,156
  • Gardener: $1,200
  • Insurance: $2,076
  • Maintenance: $2,496
  • Professional Management: $0
  • Water/Sewer: $2,340

Property Details for 247 E Orlando Way

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: 7
Lot Information
  • Lot Features: Front Yard, Lot 6500-9999
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 7
  • Parcel Number: 8445022010
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Unknown
  • Water Source: See Remarks
Location / Neighborhood
Location Information
  • Directions: E/Citrus, S/Puente St
Neighborhood Information
  • Community Features: Sidewalks, Street Lights
View more facts & features

Local Covina Agent

Sale History for 247 E Orlando Way

Last sold for $1,818,150 on December 28th, 2022

  • December, 2022

  • Dec 28, 2022

    Date

    Sold

    CRMLS: CV22225462

    $1,818,150

    Price

  • Oct 20, 2022

    Date

    Active

    CRMLS: CV22225462

    $1,900,000

    Price

Tax History for 247 E Orlando Way

Assessed Value (2020): $162,871
Year Land Value Improved Value Assessed Value
2020 $35,384 $127,487 $162,871

Home Value Compared to the Market

This property vs the competition

247 E Orlando Way sold on December 28, 2022 for 142.56% 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 $393.37 per/sqft which puts the price per square foot 21.64% lower than the current median sale per square foot for the city of Covina.

About 247 E Orlando Way

Detailed summary of property

247 E Orlando Way is a mixed use that recently sold in Covina, CA 91723. This mixed use property offered 10 bedrooms, 8 bathrooms, roughly 4,830 living square feet, and sits on an approximately 7,801 square foot lot. 247 E Orlando Way was first listed on ArdentRealEstateGroup.com on October 20, 2022. The homeowner sold the property for $1,818,150. 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 142.56% higher than the current median priced home. Local homes that are currently for sale include 1715 Cherry Ave, 229 S Catalina St and 2643 S Budlong Ave. While the average home in Covina, CA is selling in 52 days, 247 E Orlando Way has a days on market of 21 days. There are currently 104 homes for sale in the Covina real estate market and 75 of them are single family homes while 19 of them are condos and 10 are townhomes. For more information on this home for sale at 247 E Orlando Way Covina, CA 91723 contact Ardent Real Estate Group and we will put you in touch with one of our Covina agents.

Public Facts for 247 E Orlando Way

Public county record property details
Beds
10
Baths
8
Year built
1957
Sq. Ft.
4,830
Lot Size
7,801
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
2
APN
8445-022-010

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.
$505
Median Sold Price
$770,000
Median Sold Price/Sq.Ft.
$490
Total Inventory
20
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%)

Thinking of Selling?

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Related Resources to 247 E Orlando Way

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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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