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1033 W Cypress St
Covina, CA 91722

$2,200,000 USD

Apartments For Sale  •  5,132 SF

Property Details

  • Property Type Apartments
  • Total Building Size 5,132 SF
  • Lot Size 0.18 AC
  • Building Class C
  • Year Built 1963
  • Cap Rate 3.86 %
  • Zoning LCR3*
33 Transit Score
41 Walk Score

Highlights

Well-maintained 6-unit multifamily property with a desirable mix of studio, one-bedroom, and two-bedroom units
Rental upside with current rents below market, offering potential for increased returns
Most units have been upgraded, providing additional appeal to tenants and reducing future capital expenditures
No local rent control in Covina, allowing rent increases under California AB1482
Prime location across from Northview High School and walking distance to local schools, shops, and restaurants
Convenient access to Covina Metrolink station and major freeways (10 and 210), enhancing tenant commute options

Financial Summary (Actual)

Net Operating Income: $84,964 USD (2024)
Cap Rate: 3.86 %
Total Expenses: $52,231 USD

Amenities

  • Laundry Facilities

Public Transportation

Commuter RailDriveWalkDistance
Covina (San Bernardino Line - Southern California Regional Rail Authority (Metrolink)) 3 min - 1.5 mi
Baldwin Park (San Bernardino Line - Southern California Regional Rail Authority (Metrolink)) 6 min - 3.4 mi
AirportDriveWalkDistance
Ontario International 27 min - 21.2 mi
Long Beach (Daugherty Field) 40 min - 30.6 mi
Bob Hope 42 min - 33.0 mi

Parking Details

Parking Available: Yes
Reserved: No
Type: Covered
Included in Rent: Yes
David Lin 626-257-8502 Colliers
David Lin 626-257-8502 Colliers