248 Rowland StCovina, CA 91723

  • Office properties
  • 5,400 SF
For Sale
$2,000,000 View listing

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
248 Rowland St, Covina, California

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$15,452
$682,695
$455,130
$1,137,825
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