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645 S Eremland Dr, Covina, CA 91723
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645 S Eremland Dr Covina, CA 91723

$1,525,000 Sold Price as of 05/09/2024
  • 8 Beds
  • 5 Baths
  • 3,690 Sq.Ft.
Sold
$1,525,000 Sold Price as of 05/09/2024 Refinance Your Mortgage
Map preview of 645 S Eremland Dr, Covina, CA 91723

Property Overview: 645 S Eremland Dr Covina, CA has 8 bedrooms, 5 bathrooms, 3,690 living square feet and 7,107 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Lee & Associates Apartment Advisors is pleased to present Eremland Apartments in Covina, CA. Located at 645 S. Eremland Drive, the five unit apartment community was built in 1956. The unit mix is comprised of two x one bedroom/one bath and three x two bedroom/one bath units. The property is located on a quiet cul de sac street and situated on a 7,105 square foot parcel. The units are separately metered and the on-site laundry machines are owned. A new central water heater was installed in 2022, and the staircase was recently replaced. The property is subject to AB 1482 state rent caps which allow for annual rent increases of a minimum of 5% and maximum of 10%. Long term tenants. Please do not disturb tenants or walk on property.

Listed by Robert Leveen | BRE #01476685 | Robert Leveen
Last checked: 15 minutes ago | Last updated: May 9th, 2024 | Source CRMLS | DOM: 74

Home details

Lot Sq. Ft
7,107
HOA Dues
$0/mo
Year built
1956
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
24359121
City
Covina
County
Los Angeles
Time on Site
84 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,848
  • Total Rent: $3,696
  • Pro Forma/Market Rent: $4,190
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,790
  • Total Rent: $1,790
  • Pro Forma/Market Rent: $2,095
Unit Breakdown 3
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,732
  • Total Rent: $3,464
  • Pro Forma/Market Rent: $3,790
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.4%
  • Gross Rent Multiplier: 14.2
  • Gross Scheduled Income: --
  • Net Operating Income: $67,145
  • Gross Operating Income: $105,190
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 645 S Eremland Dr

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Community
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 5
  • Has Parking
  • Parking Features: Community Structure
Property Information
  • Total # of Units: 5
  • Parcel Number: 8451003026
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Rowland to Eremland
View more facts & features

Local Covina Agent

Sale History for 645 S Eremland Dr

Last sold for $1,525,000 on May 9th, 2024

  • May, 2024

  • May 9, 2024

    Date

    Sold

    CRMLS: 24359121

    $1,525,000

    Price

  • Feb 16, 2024

    Date

    Active

    CRMLS: 24359121

    $1,525,000

    Price

  • December, 2023

  • Dec 20, 2023

    Date

    Canceled

    CRMLS: 23296825

    $1,550,000

    Price

  • Aug 1, 2023

    Date

    Active

    CRMLS: 23296825

    $1,600,000

    Price

  • Listing provided courtesy of CRMLS

    Lee & Associates Apartment Advisors is pleased to present Eremland Apartments in Covina, CA. Located at 645 S. Eremland Drive, the five unit apartment community was built in 1956. The unit mix is comprised of two x one bedroom/one bath and three x two bedroom/one bath units. The property is located on a quiet cul de sac street and situated on a 7,105 square foot parcel. The units are separately metered and the on-site laundry machines are owned. A new central water heater was installed in 2022. The property is subject to AB 1482 state rent caps which allow for annual rent increases of a minimum of 5% and maximum of 10%.Eremland Apartments benefits from its close proximity to retailers on Rowland Street and Citrus Avenue. Further, the Eastland Center power mall with Walmart Supercenter and Target is located within a five minute drive, as well as I-10, providing convenient access to destinations in Los Angeles county.Covina is a thriving submarket in the San Gabriel Valley, with high occupancy rates, and continued upward pressure on rents. Drive by only.

  • October, 2018

  • Oct 22, 2018

    Date

    Sold

    CRMLS: TR18122395

    $1,300,000

    Price

  • May 24, 2018

    Date

    Active

    CRMLS: TR18122395

    $1,380,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present the rare opportunity to acquire a 5-unit multi-family investment in Covina, California. The building is located on quite residential street. Walking distance to downtown Covina and Eastland Center. 1.2 miles from Metro Covina Station. Very easy to access Interstate 10 Freeway. The subject property features 5-car garage parking spaces, individual meters for gas and electricity, and on-site laundry facilities. Current 100% occupancy with tremendous upside on rent. All two-bedroom units are at first story and all one-bedroom units are at second story. All units are well-maintained condition. There is one upgraded one-bedroom unit with new flooring, new appliances and new painting. Pro Forma over 5% Cap Rate, NOI at $69,179.

  • October, 2018

  • Oct 18, 2018

    Date

    Sold (Public Records)

    Public Records

    $1,300,000

    Price

  • March, 2018

  • Mar 23, 2018

    Date

    Sold (Public Records)

    Public Records

    $950,000

    Price

Show More

Tax History for 645 S Eremland Dr

Assessed Value (2020): $1,326,570
Year Land Value Improved Value Assessed Value
2020 $918,000 $408,570 $1,326,570

Home Value Compared to the Market

This property vs the competition

645 S Eremland Dr sold on May 9, 2024 for 108.9% higher than the current median sold price for the city of Covina which is $730,000. The median sold price per/sqft for Covina is $506 and this home is sold at $413.28 per/sqft which puts the price per square foot 18.32% lower than the current median sale per square foot for the city of Covina.

About 645 S Eremland Dr

Detailed summary of property

645 S Eremland Dr is a multi family that recently sold in Covina, CA 91723. This multi family property offered 8 bedrooms, 5 bathrooms, roughly 3,690 living square feet, and sits on an approximately 7,107 square foot lot. 645 S Eremland Dr was first listed on ArdentRealEstateGroup.com on February 17, 2024. The homeowner sold the property for $1,525,000. Home in Covina are selling for a median price of $730,000 and a median price per square foot of $506. Based on Ardent Real Estate Group's Covina Market Data, this home is sold 108.9% higher than the current median priced home. Local homes that are currently for sale include 12015 Silicon Ave, 7718 Bright Ave and 6340 Pierce Ave. While the average home in Covina, CA is selling in 53 days, 645 S Eremland Dr has a days on market of 74 days. There are currently 93 homes for sale in the Covina real estate market and 61 of them are single family homes while 20 of them are condos and 12 are townhomes. For more information on this home for sale at 645 S Eremland 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 645 S Eremland Dr

Public county record property details
Beds
8
Baths
5
Year built
1956
Sq. Ft.
3,690
Lot Size
7,104
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
26
APN
8451-003-026

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
$685,105
Median List Price/Sq.Ft.
$444
Median Sold Price
$781,000
Median Sold Price/Sq.Ft.
$442
Total Inventory
22
Median Sale to List Price %
101.69%
Avg Days on Market
8
Loan Type
Conventional (50%), FHA (0%), VA (0%), Cash (33.33%), Other (16.67%)

Thinking of Selling?

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Recently Sold Homes Near 645 S Eremland Dr

533 S Eremland Dr, Covina, CA 91723
$1,350,000 Last Sold Price
12 Beds
6 Baths
4888 Sq.Ft.
533 S Eremland Dr
Covina, CA 91723
531 S 1st Ave, Covina, CA 91723
$1,168,000 Last Sold Price
7 Beds
5 Baths
3894 Sq.Ft.
531 S 1st Ave
Covina, CA 91723
525 S Eremland Dr, Covina, CA 91723
$1,350,000 Last Sold Price
11 Beds
6 Baths
5192 Sq.Ft.
525 S Eremland Dr
Covina, CA 91723
265 E Navilla Pl, Covina, CA 91723
$3,600,000 Last Sold Price
22 Beds
14 Baths
11536 Sq.Ft.
265 E Navilla Pl
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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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