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654 E Ruddock St, Covina, CA 91723
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654 E Ruddock St Covina, CA 91723

$1,575,000
  • 12 Beds
  • 7 Baths
  • 6,375 Sq.Ft.
Pending
$1,575,000 Get Pre-Qualified
Map preview of 654 E Ruddock St, Covina, CA 91723

Property Overview: 654 E Ruddock St Covina, CA has 12 bedrooms, 7 bathrooms, 6,375 living square feet and 8,148 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: JUST REDUCED! MOTIVATED SELLER! We are pleased to offer for sale this prime 6 unit multi-family investment nestled in the heart of the city of Covina. Priced at a 5% CAP Rate and 12.85 GRM (with about 30% upside in rental income) the subject property features a compelling unit mix of a Two-Story Townhouse with 2 Bedrooms/1.5 bathrooms, alongside five additional 2-Bedroom/1-Bathroom units. Spanning 6,375 square feet of rental space on an 8,148 square foot lot, the property has been thoughtfully designed to meet the needs of modern living. Each unit is separately metered for electricity and gas, providing ease of utility management and cost efficiency. Tenants are afforded the convenience of covered car-port parking and an onsite laundry facility, adding to the appeal of these units. Located just minutes from the vibrant "Downtown" Covina area, residents have easy access to a variety of shops, restaurants, and entertainment options, enhancing the rental attractiveness of this property. Perhaps most notably, this investment offers a significant opportunity for revenue growth, with a potential 30% upside in rental income. This combination of location, quality, and income potential makes this Covina property an enticing option for investors looking to expand their portfolio in a desirable market.

Listed by Kristopher German | BRE #01800021 | RE/MAX 2000 REALTY
Last checked: 14 minutes ago | Last updated: May 2nd, 2024 | Source CRMLS | DOM: 28
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Home details

Lot Sq. Ft
8,148
HOA Dues
$0/mo
Year built
1962
Garage
--
Property Type:
Apartment
Status
Pending
MLS#
CV24065005
City
Covina
County
Los Angeles
Time on Site
39 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
  • # of Leased Units: 6
  • # of Electric Meters: 6
  • # of Gas Meters: 6
  • # 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: $1,884
  • Total Rent: $1,884
  • Pro Forma/Market Rent: $2,195
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,713
  • Total Rent: $1,713
  • Pro Forma/Market Rent: $2,195
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,496
  • Total Rent: $1,496
  • Pro Forma/Market Rent: $2,195
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,256
  • Total Rent: $1,256
  • Pro Forma/Market Rent: $2,195
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,316
  • Total Rent: $1,316
  • Pro Forma/Market Rent: $2,195
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,450
  • Total Rent: $2,450
  • Pro Forma/Market Rent: $2,495
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $122,580
  • Net Operating Income: $78,677
  • Gross Operating Income: $118,903
  • Vacancy Allowance: $3,677
  • Laundry Income: $1,200
Annual Expense Breakdown
  • Total Operating Expense: $40,226
  • Electric: $540
  • Gas/Fuel: $2,640
  • New Taxes: $18,346
  • Trash: $4,800
  • Insurance: $4,500
  • Maintenance: $4,500
  • Professional Management: $0
  • Water/Sewer: $4,000
  • Other Expenses: $900
  • Other Expense Description: Reserves

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Property Details for 654 E Ruddock St

Interior Features
Laundry Information
  • Has Laundry
  • Community, Inside
Interior Features
  • Levels: Two
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: 6-10 Units/Acre, Lot 6500-9999
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 6
  • Parcel Number: 8429033014
  • 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: South of I-210, West of CA-57; Near the Intersection of N Vecino Dr & E Ruddock St
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks
View more facts & features

Local Covina Agent

Sale History for 654 E Ruddock St

View property's historical transactions

  • May, 2024

  • May 2, 2024

    Date

    Pending

    CRMLS: CV24065005

    $1,575,000

    Price

  • Apr 2, 2024

    Date

    Active

    CRMLS: CV24065005

    $1,625,000

    Price

Tax History for 654 E Ruddock St

Assessed Value (2020): $211,114
Year Land Value Improved Value Assessed Value
2020 $45,006 $166,108 $211,114

Home Value Compared to the Market

This property vs the competition

654 E Ruddock St is listed 110% higher than the median list price for the city of Covina which has a median list price of $750,000. The median price per/sqft for Covina is $479 and this home is listed at $247.06 per/sqft which puts the price per square foot 48.42% lower than the median price per square foot for the city of Covina.

About 654 E Ruddock St

Detailed summary of property

654 E Ruddock St is a apartment located in Covina, CA 91723 and is currently in escrow to be sold. This apartment offers 12 bedrooms, 7 bathrooms, roughly 6,375 living square feet, and sits on an approximately 8,148 square foot lot. 654 E Ruddock St was first listed on ArdentRealEstateGroup.com on April 2, 2024. The homeowner is currently asking $1,575,000 and was originally asking $1,625,000. The median priced home in Covina is $750,000 with a median price per square foot of $479. Based on Ardent Real Estate Group's Covina Market Data, this home is listed 110% higher than the median priced home. Local competing homes currently for sale include 602 Karesh Ave, 1379 S Gibbs St and 2325 Angela St. While the average home in Covina, CA is selling in 53 days, 654 E Ruddock St has a days on market of 28 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 654 E Ruddock St Covina, CA 91723 contact Ardent Real Estate Group and we will put you in touch with one of our Covina agents.

Public Facts for 654 E Ruddock St

Public county record property details
Beds
12
Baths
7
Year built
1962
Sq. Ft.
6,375
Lot Size
8,147
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
26
APN
8429-033-014

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%)

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Recently Sold Homes Near 654 E Ruddock St

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$1,990,000 Last Sold Price
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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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