449 Puente StCovina, CA 91723

Property Details for 449 Puente St

Year built

1964

Construction

WOOD

Lot size

0.25 AC

Property size (Sq ft)

5,022 SF

Zone code

CVR3-RD200

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

8445-015-034

APU

8445015034

Description

This exceptional investment opportunity presents a well-maintained five-unit apartment complex ideally situated in Covina, California, at 449 E Puente Street. The property boasts a total area of 5,022 square feet and sits on a 0.25-acre lot. The complex comprises four two-bedroom units and one three-bedroom unit, offering a diverse range of housing options. Currently operating at 100% occupancy, all tenants are current on their rent, reflecting market-rate values. This translates to a stable and predictable income stream for the investor. The property's prime location near Eastland Shopping Center and Downtown Covina provides convenient access to a wealth of amenities, including shopping, dining, and entertainment. This makes the units highly attractive to renters, ensuring continued high occupancy rates. The strong tenant base and desirable location combine to create a compelling investment opportunity with significant potential for future growth and appreciation. The property is offered at $1,700,000. This represents a rare chance to acquire a well-performing multi-family asset in a thriving California market. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $1,668,654

  6.5%

  $1,540,296

  7%

  $1,430,275

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,474,061

  Geo Method

  $1,480,224

• Alternative Use

  Use

  Valuation

  Residential

  $1,540,296

  Hospitality

  $1,410,903

  Educational

  $1,173,855

  Medical

  $1,214,226

  Retail

  $1,825,997

Location Insight

City

Covina

County

Los Angeles

State

California

Latitude

34.0829

Longitude

-117.882

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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