248 Rowland StCovina, CA 91723
- Office properties
- 5,400 SF
Property Details for 248 Rowland St
- Year built
- 1963
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.27 AC
- Property size (Sq ft)
- 5,400 SF
- Zone code
- CVC3YY
- Property type
- Office properties
- Property subtype
- Office buildings
- APN
- 8451-003-020
- APU
- 8451003020
Description
This exceptional 5,400 square foot office building presents a compelling investment opportunity in the thriving city of Covina, California. Situated on a 0.27-acre lot at 248 Rowland Street, this property enjoys a highly visible location on a busy thoroughfare. The building is currently divided into two separate units, each equipped with its own utilities and restrooms. Both units are fully leased to long-term tenants, providing immediate and consistent cash flow. The property includes 14 dedicated parking spaces, a significant advantage in this area. Rowland Street is experiencing a surge in development activity, with notable high-end retail and restaurant projects underway nearby. This positive trend underscores the property's strategic location within a dynamic and expanding market, making it an attractive asset for both investors seeking redevelopment potential and owner-users looking for a well-established presence in a growing commercial corridor. The strong tenant occupancy and the area's revitalization efforts combine to create a promising investment with significant upside potential. This is a rare opportunity to acquire a well-positioned, income-producing property in a rapidly developing area of Covina.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,446,978
- 6.5%
- $1,335,672
- 7%
- $1,240,266
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,022,588
- Geo Method
- $1,026,864
-
Alternative Use
- Use
- Valuation
- Residential
- $1,656,233
- Hospitality
- $1,517,100
- Educational
- $1,262,210
- Medical
- $1,305,619
- Retail
- $1,963,437
Location Insight
- City
- Covina
- County
- Los Angeles
- State
- California
- Latitude
- 34.0786
- Longitude
- -117.887
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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