248 Rowland StCovina, CA 91723

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 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.

• 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

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