19531 E Cienega Avenue, Covina, CA 91724

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Property Description

Price improvement motivated seller bring all offers. We are pleased to present for sale a 20-unit multifamily property situated at 19531 E Cienega Ave in Covina. This property offers investors the opportunity to acquire a pride-of-ownership, value-add real estate asset in the heart of the San Gabriel Valley. Constructed in 1988, the property features a favorable unit mix consisting entirely of large 2-bedroom, 2-bathroom units. The units total approximately 16,191 square feet on a spacious 0.94-acre lot. Each unit includes its own patio or balcony and is separately metered for gas and electricity, providing added convenience. The property boasts an onsite laundry facility, a swimming pool, and secure gated entries. Parking accommodations include ample carports and uncovered spaces on the large lot. Offered on the market for the first time in over 20 years, the majority of the units have been renovated by the owner. Current rents are significantly below market, providing over 25% upside on rents. Additionally, there is potential for extra rental income by adding accessory dwelling units (ADU), subject to verification by the buyer. Strategically positioned, 19531 E Cienega Ave offers convenient access to a multitude of amenities and attractions. The property is located in close proximity to supermarkets, national retailers, restaurants, and schools, with easy access to major transportation arteries, including the 210 and 10 freeways and the Covina Metrolink Station. This sought-after location provides investors with the prospect of acquiring a lucrative multifamily asset poised to generate substantial cash flow while offering a hedge against inflation in the thriving city of Covina.


Interior Features

Laundry Information
Location(s) Common Area
Bedroom Information
Bedrooms 40
Bathroom Information
Bathrooms 40
Interior Information
Features Ceiling Fan(s)
Cooling Type Central Air

Listing Information

Address 19531 E Cienega Avenue
City Covina
State CA
Zip 91724
County Los Angeles
Listing Agent Edward Pan DRE #01894476
Courtesy Of Colliers International Greater Los Angel
List Price $6,588,000
Status Active
Type Residential Income
Structure Size 16,191
Lot Size 40,957
Year Built 1988

Listing information courtesy of: Edward Pan, Colliers International Greater Los Angel. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 5:51 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.