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531 S 1st Ave, Covina, CA 91723
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531 S 1st Ave Covina, CA 91723

$1,168,000 Sold Price as of 06/14/2019
  • 7 Beds
  • 5 Baths
  • 3,894 Sq.Ft.
Sold
$1,168,000 Sold Price as of 06/14/2019 Refinance Your Mortgage
Map preview of 531 S 1st Ave, Covina, CA 91723

Property Overview: 531 S 1st Ave Covina, CA has 7 bedrooms, 5 bathrooms, 3,894 living square feet and 7,813 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: EXCELLENT INVESTMENT OPPORTUNITY IN THE CITY OF COVINA!!! This five unit property features two 2 bedroom 1 bathroom and three 1 bedroom 1 bathroom units and is close to shopping, restaurants and nightlife. There are six covered carports in the back, one belonging to each unit, as well as a community laundry room. All units are on separate gas and electric utilities, with water and trash paid through one bill. There is additional street parking in front of the building just past a greenbelt and bushes. Each unit has been updated with new carpet or paint as necessary when a new tenant has moved in. Don't miss this tremendous opportunity!

Listed by MICHAEL WALLACE | BRE #01998572 | BETTER HOME FINANCIAL, INC
Last checked: 7 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 7

Home details

Lot Sq. Ft
7,813
HOA Dues
$0/mo
Year built
1960
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
CV19077658
City
Covina
County
Los Angeles
Time on Site
1521 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 1
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,300
  • Total Rent: $1,300
  • Pro Forma/Market Rent: $1,300
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,175
  • Total Rent: $1,175
  • Pro Forma/Market Rent: $1,300
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,100
  • Total Rent: $1,100
  • Pro Forma/Market Rent: $1,200
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,100
  • Total Rent: $1,100
  • Pro Forma/Market Rent: $1,200
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,200
  • Total Rent: $1,200
  • Pro Forma/Market Rent: $1,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $70,500
  • Net Operating Income: $44,264
  • Gross Operating Income: --
  • # of Rented Garages: 0
  • Garage Rental Rate: $0
  • Garage Rental Income: $0
  • Laundry Income: $0
  • Laundry Own/Lease: Own
Annual Expense Breakdown
  • Total Operating Expense: $26,236
  • Electric: $3,000
  • Gas/Fuel: $138
  • New Taxes: $14,850
  • Trash: $556
  • Insurance: $1,572
  • Professional Management: $3,120
  • Water/Sewer: $1,000
  • Other Expenses: $2,000
  • Other Expense Description: maintena

Property Details for 531 S 1st Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Laundry Information
  • Has Laundry
  • Common Area
Room Information
  • Flooring: Carpet, Tile
  • Kitchen, Living Room
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 6
Lot Information
  • Lot Features: Greenbelt
  • Lot Size Source: Assessor
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 5
  • Parcel Number: 8445027005
  • Year Built Source: Public Records
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • Has Assessments
  • Assessments: Unknown
Location / Neighborhood
Location Information
  • Directions: East of Citrus Ave, North of Rowland St to 531 S 1st Avenue on the left.
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Suburban
View more facts & features

Local Covina Agent

Sale History for 531 S 1st Ave

Last sold for $1,168,000 on June 14th, 2019

  • June, 2019

  • Jun 15, 2019

    Date

    Sold

    CRMLS: CV19077658

    $1,168,000

    Price

  • May 6, 2019

    Date

    Pending

    CRMLS: CV19077658

    $1,188,000

    Price

  • Apr 13, 2019

    Date

    Active Under Contract

    CRMLS: CV19077658

    $1,188,000

    Price

  • Apr 6, 2019

    Date

    Active

    CRMLS: CV19077658

    $1,188,000

    Price

  • June, 2019

  • Jun 14, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,168,000

    Price

  • June, 2009

  • Jun 29, 2009

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 531 S 1st Ave

Assessed Value (2020): $1,191,360
Year Land Value Improved Value Assessed Value
2020 $612,000 $579,360 $1,191,360

Home Value Compared to the Market

This property vs the competition

531 S 1st Ave sold on June 14, 2019 for 51.66% 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 $305.08 per/sqft which puts the price per square foot 39.23% lower than the current median sale per square foot for the city of Covina.

About 531 S 1st Ave

Detailed summary of property

531 S 1st Ave is a multi family that recently sold in Covina, CA 91723. This multi family property offered 7 bedrooms, 5 bathrooms, roughly 3,894 living square feet, and sits on an approximately 7,813 square foot lot. 531 S 1st Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $1,168,000. 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 51.66% higher than the current median priced home. Local homes that are currently for sale include 434 E Truslow Ave, 11607 Fidel Ave and 11607 Fidel Ave. While the average home in Covina, CA is selling in 52 days, 531 S 1st Ave has a days on market of 7 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 531 S 1st Ave Covina, CA 91723 contact Ardent Real Estate Group and we will put you in touch with one of our Covina agents.

Public Facts for 531 S 1st Ave

Public county record property details
Beds
7
Baths
5
Year built
1960
Sq. Ft.
3,894
Lot Size
7,768
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
5
APN
8445-027-005

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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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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