West Covina (669) Homes with Multi Family Subtype

Welcome to West Covina, a vibrant city nestled in the heart of Los Angeles County, California. Known for its diverse community and rich cultural tapestry, West Covina is a place where urban convenience meets suburban charm. With a population of over 100,000 residents, this city is renowned for its family-friendly atmosphere, excellent schools, and a plethora of parks and recreational facilities.

One of the most appealing aspects of West Covina is its real estate market, particularly the availability of multi-family homes. These properties offer a unique opportunity for both investors and families looking to maximize their living space. Multi-family homes in West Covina provide the perfect blend of comfort and functionality, accommodating larger families or generating rental income through additional units.

Imagine owning a charming duplex or a spacious triplex, where you can live in one unit while renting out the others. This not only helps offset your mortgage but also fosters a sense of community among neighbors. The multi-family homes in West Covina are strategically located, providing easy access to major highways, shopping centers, and local amenities.

Whether you're a first-time homebuyer, an experienced investor, or simply looking for a place to call home, West Covina's multi-family properties offer an array of options to suit your needs. With its sunny California weather, friendly neighborhoods, and a wealth of opportunities, West Covina is truly a place to thrive. Explore the possibilities today and discover your dream home in this dynamic city!

Newest West Covina (669) Homes with Multi Family Subtype

1127 1131 E Garvey Avenue N, West Covina

$6,800,000

P1-28578 MLS ⋅ Active Status

Exceptional opportunity to acquire West Covina Terrace Apartments, a well-located 28-unit multifamily apartment community situated at 1127-1131 E Garvey Ave N in West Covina. Built in 1958, the two-story property encompasses approximately 18,382 square feet of building area on an approximately 33,829-square-foot (0.78-acre) lot.The property is currently generating approximately $539,000 in annual gross income, providing an investor with substantial in-place revenue from day one. With an asking price of $6,800,000, the property is offered at approximately $243,000 per unit, an attractive basis for a 28-unit multifamily asset in the San Gabriel Valley. In addition to its current income stream, the property offers the potential for future revenue growth through continued professional management and the opportunity to increase rents over time as permitted.West Covina Terrace features a desirable and diversified unit mix consisting of 4 studio units, 20 one-bedroom/one-bathroom units, and 4 two-bedroom/one-bathroom units. The strong concentration of highly marketable one-bedroom apartments, complemented by studio and two-bedroom residences, appeals to a broad tenant base and provides a balanced rental mix.Additional property features include a gated courtyard-style setting, community laundry facilities, 28 separately metered electrical services, and designated on-site parking for every unit. Providing each residence with assigned parking is a particularly desirable amenity in the Southern California rental market and further enhances the property's tenant appeal.Strategically positioned along the Garvey Avenue corridor, the property offers excellent access to the I-10 Freeway and is conveniently located near Plaza West Covina, shopping, restaurants, employment centers, schools and everyday services. Its central San Gabriel Valley location provides convenient connectivity to surrounding communities and the greater Los Angeles area.The surrounding area also benefits from attractive demographics, with approximately 23,000 residents and more than 7,000 households within a one-mile radius, along with a median household income of approximately $89,000.

1127 1131 E Garvey Avenue N, West Covina

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.