1051 Citrus AveCovina, CA 91722

Property Details for 1051 Citrus Ave

Year built

1927

Construction

WOOD

Lot size

0.35 AC

Property size (Sq ft)

4,094 SF

Zone code

CVC4*

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

8421-026-024

APU

8421026024

Description

This exceptional investment opportunity presents a 4,814 square foot mixed-use building situated on a 0.35-acre lot at 1051 Citrus Avenue, Covina, CA. Priced at $1,750,000, this multi-level property offers a blend of retail and office space, ideal for a diverse range of tenants. The upper floors feature modern office spaces with adaptable layouts, perfect for single or multi-tenant occupancy. Each office boasts high ceilings, large windows, and abundant natural light, creating a productive and inviting atmosphere. Ample on-site parking is available, accommodating 20 vehicles, with designated spaces for both retail customers and office tenants. The building enjoys a highly visible location in a bustling area, easily accessible via major highways and public transportation. The surrounding neighborhood is characterized by high foot traffic and a mix of residential, commercial, and recreational establishments, ensuring consistent visibility and a steady flow of potential customers. Current multi-tenant occupancy generates rental income from both office and retail spaces. The strong demand for retail and office properties in this desirable area suggests significant potential for long-term capital appreciation. This property represents a compelling investment for those seeking a diversified portfolio or a prime location with established rental income.

• CAP approach

  CAP return

  Valuation

  6%

  $1,097,023

  6.5%

  $1,012,637

  7%

  $940,306

• Comparable approach

  Method

  Valuation

  Relative Method

  $775,274

  Geo Method

  $778,515

• Alternative Use

  Use

  Valuation

  Residential

  $1,255,670

  Hospitality

  $1,150,187

  Educational

  $956,942

  Medical

  $989,853

  Retail

  $1,488,576

Location Insight

City

Covina

County

Los Angeles

State

California

Latitude

34.0986

Longitude

-117.891

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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