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Sold for $3,402,000
    • Listed by: RE/MAX MASTERS REALTY • Nicholas Abbadessa • Contact: 909-445-8100
    Bought with: Realty Investment Advisors, Inc.
    $3,402,000

    221 W Dexter St, Covina, CA 91723

    22beds
    8baths
    11,096sqft
    Multi Family
    Built in 1960
    -- sqft lot
    $3,303,300 Zestimate®
    $307/sqft
    $2,695 Estimated rent

    Home value

    $3,303,300

    $2.97M - $3.67M

    $2,695/mo

    Zestimate® history
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    What's special

    Great opportunity to purchase a 14 unit apartment building near downtown Covina. The building offers eight 2-bedroom/1-bathroom units and six 1-bedroom/1-bathroom units. The exterior has been recently and completely repainted, and the parking and asphalt areas have been fully redone. The property features manicured grounds with a spacious interior courtyard for residents to enjoy. 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%.

    Zillow last checked:

    Listing updated:

    Listed by:

    Nicholas Abbadessa DRE #01398872 909-292-7888,

    RE/MAX MASTERS REALTY

    Bought with:

    Benjamin J. Hsiang, DRE #01438644

    Realty Investment Advisors, Inc.

    Source: CRMLS,MLS#: CV24238095MLS LogoOriginating MLS: California Regional MLS

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 22
    • Bathrooms: 8
    Heating
    • Wall Furnace
    Cooling
    • Wall/Window Unit(s)
    Appliances
    • Included: Disposal, Gas Range
    • Laundry: Common Area
    Features
    • Has fireplace: No
    • Fireplace features: None
    • Common walls with other units/homes: No Common Walls
    Interior area
    • Total structure area: 11,096
    • Total interior livable area: 11,096 sqft

    Property

    Parking
    • Total spaces: 23
    • Parking features: Garage, Carport
    • Garage spaces: 8
    • Carport spaces: 10
    • Covered spaces: 18
    • Uncovered spaces: 5
    Features
    • Levels: Two
    • Stories: 2
    • Entry location: 1
    • Pool features: None
    • Spa features: None
    • Has view: Yes
    • View description: None
    Lot
    • Size: 0.47 Acres
    • Features: Sprinkler System
    Details
    • Parcel number: 8444007025
    • Zoning: CVR3-RD1250*
    • Special conditions: Trust

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    Materials
    • Stucco
    • Foundation: Slab
    • Roof: Composition
    Condition
    • New construction: No
    • Year built: 1960

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & HOA

    Community
    • Features: Curbs, Street Lights, Sidewalks
    Location
    • Region: Covina

    Financial & listing details

    • Price per square foot: $307/sqft
    • Date on market: 11/22/2024
    • Cumulative days on market: 28 days
    • Listing terms: Cash,Cash to New Loan,Conventional,Submit
    • Total actual rent: 19560
    • Road surface type: Paved

    Price history

    DateEventPrice
    1/30/2025Sold$3,402,000+0.1%$307/sqft
    Source: CRMLS #CV24238095 Report a problem
    12/20/2024Pending sale$3,400,000$306/sqft
    Source: CRMLS #CV24238095 Report a problem
    12/11/2024Price change$3,400,000-8.1%$306/sqft
    Source: CRMLS #CV24238095 Report a problem
    11/23/2024Listed for sale$3,700,000$333/sqft
    Source: CRMLS #CV24238095 Report a problem

    Public tax history

    Tax history is unavailable.

    Neighborhood: 91723

    Nearby schools

    GreatSchools rating
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    Estimated market value
    $3,303,300
    Get a cash offer in 3 minutes
    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $3,303,300

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