221 W Dexter ST Covina, CA 91723
11,096 SqFt
UPDATED:
11/23/2024 01:04 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 11,096 sqft
Price per Sqft $333
MLS Listing ID CV24238095
HOA Y/N No
Year Built 1960
Lot Size 0.469 Acres
Acres 0.4694
Property Description
One of the two-bedroom units is completely remodeled and currently unrented, with an estimated rental income of $2,200 per month. The remaining seven two-bedroom units are currently rented at $1,400 per month, and the one-bedroom units are rented at $1,240 per month.
The current gross income is $239,520, and with rent increases due in May, this will rise to $257,725.44. The operating income, factoring in the new property taxes at a rate of 1.25%, will be $69,225.60. Calculating with a 3% vacancy rate, the cap rate for this building is currently at 4.4%, which, with the upcoming rent increases in May, will increase to 4.9%.
Location
State CA
County Los Angeles
Area 614 - Covina
Zoning CVR3-RD1250*
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplaces Type None
Appliance Disposal, Gas Range
Laundry Common Area
Exterior
Garage Spaces 8.0
Pool None
Community Features Curbs, Sidewalks, Street Lights
View None
Roof Type Composition
Private Pool No
Building
Lot Description Sprinkler System
Story 2
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Special Listing Condition Trust
Confidential INFO
TERMS Cash,Cash To New Loan,Conventional,Submit
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE See Remarks
SHOW CONTACT NAME Drive By Only
SHOW INSTRUCTIONS Drive by only, please do not disturb the tenants.
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