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Jim, Justin and Vickie, Sales Associate
SOLD
$1,990,000
Date 08/01/2023

322 N Prospero Drive
Covina, CA 91723

Apartment
Residence
7,154
Sqft
0.1786
Lot Size
Listing Agent: KRISTOPHER GERMAN CalDRE: 01800021 - RE/MAX 2000 REALTY

Description for 322 N Prospero Drive Covina, CA 91723

We are pleased to offer for sale this 6 unit, one of a kind, multi-family investment property in the city of Covina. The subject property is comprised of 5 two-story townhouse style units and one traditional apartment unit. The unit mix consists of 1(3Bed/2.5Bath) Town-House Owners Unit, 3(3Bed/1.5Bath) Town-Houses, 1(2Bed/1.5Bath) Town-House, 1(2Bed/1.5Bath) unit. Tenants enjoy an onsite laundry facility and covered car-port parking. The current owner has kept the rents quite modest for the area allowing a new investor the ability to substantially improve the subject property and increase the rental rates by as much as 60+%. By repositioning the property, a new investor can realize an 8+% cash on cash return when utilizing the private seller financing available. Private seller financing terms: 30% Down Payment, 6.5% Interest Only Payments, Due and Payable in 5 years.

Property Details

CV23113471
Apartment, 2 Story
Los Angeles
1963
0.1786 Acres
Public
2
Public Sewer
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Listing Agent: KRISTOPHER GERMAN CalDRE: 01800021 - RE/MAX 2000 REALTY
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Jim, Justin and Vickie Dean Stalter, Broker DRE# 00625377 - 30221 Golden Lantern Ste. A-B, Laguna Niguel, CA 92677 | Phone: (949) 464-8136 | Email: [email protected]

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