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Sold on 05/15/2024
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654 E Ruddock St, Covina, CA 91723

$1,625,000

Last sold 05/15/2024 after 43 Days

  • —

    bed

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    bath

Multi-family not for sale

About 654 E Ruddock St

Property type Multi-family
Year built 1962
HOA fee $0/month
Lot size 8,148 Sqft
Rental estimate
Property description
JUST REDUCED! MOTIVATED SELLER! We are pleased to offer for sale this prime 6 unit multi-family investment nestled in the heart of the city of Covina. Priced at a 5% CAP Rate and 12.85 GRM (with about 30% upside in rental income) the subject property features a compelling unit mix of a Two-Story Townhouse with 2 Bedrooms/1.5 bathrooms, alongside five additional 2-Bedroom/1-Bathroom units. Spanning 6,375 square feet of rental space on an 8,148 square foot lot, the property has been thoughtfully designed to meet the needs of modern living. Each unit is separately metered for electricity and gas, providing ease of utility management and cost efficiency. Tenants are afforded the convenience of covered car-port parking and an onsite laundry facility, adding to the appeal of these units. Located just minutes from the vibrant "Downtown" Covina area, residents have easy access to a variety of shops, restaurants, and entertainment options, enhancing the rental attractiveness of this property. Perhaps most notably, this investment offers a significant opportunity for revenue growth, with a potential 30% upside in rental income. This combination of location, quality, and income potential makes this Covina property an enticing option for investors looking to expand their portfolio in a desirable market.
Listed by
Listing Agent - Kristopher German
Listing Agent Contact: 909-645-0443
Listing Office - RE/MAX 2000 REALTY
Source: CRMLS mls logo
MLS#CV24065005 • last updated 2 years ago
Movoto checked CRMLS for data 4 minutes ago
Overview
Levels/Style Two
Type Residential Income
SubType Apartment
Status Closed
Lot Size (Acres) 0.1871
Lot Size (SqFt) 8148
Year Built 1962
Interior
Exterior
Building Area Square Feet, 6375
# Carport Spaces 6
# Parking Spaces 6
Lot Description 6-10 Units/Acre, Lot 6500-9999
Amenities / Utilities
Sewer/ Septic Public Sewer
Water Source Public
Pool None
Location
County Los Angeles
Community Features Curbs, Gutters, Sidewalks
Zoning CVRD2000*
Directions South Of I-210, West Of CA-57; Near The Intersection Of N Vecino Dr & E Ruddock St
APN 8429033014
Multifamily Details
Vacancy Allowance 3677
Expense: Trash 4800
Laundry Income 1200
Operating Expense 40226
Expense: Insurance 4500
Total Expenses 40226
Expense: Maintenance 4500
Expense: Water/ Sewer 4000
Gross Income 122580
Gross Operating Income 118903
Expense: Electric 540
Gross Scheduled Income 122580
Expense: Fuel 2640
Rental est.: $1,958/month
Gross rent multiplier: 69.2
  • May 2024
    mls logo MLS # CV24065005
  • May 15, 2024 Sold
    $1,625,000
  • May 2, 2024 Pending
    —
  • Apr 23, 2024 Listed
    $1,575,000 (-3.1%)
  • Apr 2, 2024 Listed
    $1,625,000
  • May 2024
    Public Records
  • May 15, 2024 Sold
    $1,625,000 (+3.2%)
  • Year Property taxes Tax assessment
  • 2024
    $4,813 -5.9%
    $226,353 +2.0%
  • 2023
    $5,115 +1.1%
    $221,915
  • 2022
    $5,061 +1.9%
    $221,915 +4.04%
  • 2021
    $4,967 +0.9%
    $213,300
  • 2020
    $4,924
    $213,300
  • 654 E Ruddock St
    $1.62M
  • —
  • 91723
    $649K -4% y/y
  • Covina
    $699K -1% y/y
No chart available
Statistics calculated by Movoto

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Source: GreatSchools.org © 2026. All rights reserved.

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