327 N Prospero DR new Save Request In-Person Tour Request Virtual Tour
Covina,CA 91723
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV25082530
HOA Y/N No
Year Built 1963
Lot Size 7,744 Sqft
Property Sub-Type Apartment
Property Description
We are pleased to exclusively present this rare value-add 7-unit multifamily investment opportunity in the highly sought-after city of Covina. The property is comprised of a desirable unit mix featuring mostly two-story townhouse-style layouts, including (2) 3-bedroom / 1.5-bath units, (2) 2-bedroom / 1.5-bath units, and (3) 2-bedroom / 1.5-bath single-level units. Each unit offers a spacious and functional floor plan, averaging approximately 1,100 square feet—an uncommon feature for buildings of this era.
Residents enjoy a gated entry, covered parking, private patios or balconies, and the convenience of an on-site laundry facility. Each unit is individually metered for gas and electricity, allowing for simplified utility management and reduced operating expenses.
With over 50% rental upside, this asset presents a compelling opportunity for investors to reposition the property and significantly increase cash flow. Located in a strong rental market with consistent demand, this well-located and generously sized property is ideal for the value-driven investor seeking long-term growth and stability.
Location
State CA
County Los Angeles
Area 614 - Covina
Zoning CVRD2000*
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplaces Type Living Room
Fireplace Yes
Laundry Common Area
Exterior
Parking Features Carport
Carport Spaces 6
Fence Wood
Pool None
Community Features Street Lights,Sidewalks
Utilities Available Electricity Available,Natural Gas Available,Sewer Available,Water Available
Roof Type Shingle
Total Parking Spaces 6
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 8429032010
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard