1161 Park View DrCovina, CA 91724

Property Details for 1161 Park View Dr

Year built

1983

Construction

WOOD

Lot size

0.73 AC

Property size (Sq ft)

14,466 SF

Zone code

CVE5&PCD*

Property type

Office buildings

APN

8448-019-050

APU

8448019050

Description

This exceptional 14,112 square foot, two-story medical office building in Covina, California, presents a unique investment opportunity. Located in the Village Oaks Office Park, this Class C property boasts a prime location directly off Interstate 10, offering excellent freeway access, high visibility, and convenient proximity to local amenities. Completely renovated in 2023, the building features two contiguous suites: a first-floor suite of approximately 5,009 square feet and a second-floor suite of approximately 7,333 square feet. Currently housing two tenants, the property offers the potential for lease-up or owner-occupancy. Significant recent improvements, totaling nearly $1 million, include renovated lobbies and restrooms, enhanced building security, exterior finishing and paint, and new landscaping. A newly finalized long-term lease with Dish Wireless for rooftop antennas will generate an additional $36,000 in annual income. The property sits on a 0.73-acre lot and offers ample surface parking (4 spaces per 1,000 square feet). The permitted zoning is CVE5 & PCD. Built in 1983, this building represents a rare opportunity for a high-quality office investment in the heart of the San Gabriel Valley. The asking price is $5,500,000. APN: 8448-019-050.

• CAP approach

  CAP return

  Valuation

  6%

  $4,574,310

  6.5%

  $4,222,440

  7%

  $3,920,840

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,760,520

  Geo Method

  $2,750,850

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $8,113,410

  Retail / Commercial

  $4,199,590

  Mixed-Use / Specialty

  $4,215,410

  Hospitality / Lodging

  $3,132,800

  Institutional / Educational

  $4,393,340

  Residential Income

  $5,140,200

  Multifamily

  $5,994,170

  Automotive / Energy

  $3,765,720

  Parking / Income-Based Land

  $1,269,080

  Restaurant / Food Service

  $2,258,190

  Healthcare / Senior Housing

  $4,291,250

Location Insight

City

Covina

County

Los Angeles

State

California

Latitude

34.0688

Longitude

-117.86

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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