Residential Income — 19550 E Cienega Avenue, Covina, CA

$22,500,000

19550 E Cienega Avenue, Covina, CA

19550 E Cienega Avenue, Covina, CA 91724 — $22,500,000 · Multi-Family Home for Sale — photo 3

19550 E Cienega Avenue, Covina, CA 91724 — $22,500,000 · Multi-Family Home for Sale — photo 4

19550 E Cienega Avenue, Covina, CA 91724 — $22,500,000 · Multi-Family Home for Sale — photo 5

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About this property

Villa Christina Apartments is a well-maintained, resort-style 78-unit multifamily community located in the Charter Oak neighborhood of Covina, in unincorporated Los Angeles County. Family owned and operated for 37 years, the property consists of four two-story buildings situated on 3.35 acres and offers a highly desirable mix of 49 two-bedroom/two-bath units and 29 three-bedroom/two-bath units. The community features a gated pool and spa, barbecue areas, ample on-site parking with 177 spaces, and a property-owned laundry facility. Approximately 68% of the units have received full interior upgrades,, or kitchen upgrades only, including stone countertops, custom cabinetry, and full appliance packages. Recent capital improvements include a comprehensive pool and spa renovation completed in 2024 and the replacement of Building B’s roof in 2026. The property is subject to the LA County Rent Stabilization Ordinance. There is the potential to add ADU's, buyer to further evaluate. Villa Christina presents a compelling value-add opportunity with 38% upside in current rents. Villa Christina offers a buyer a stabilized multifamily platform in the Charter Oak neighborhood of Covina with clear mark-to-market upside and long-term hold fundamentals.

Property details

Year built

1988

Property type

Residential Income

Lot size

146,057 sqft

Location

19550 E Cienega Avenue • Covina, CA 91724

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Listed by

KEVIN LUTZ · Keller Williams Realty/Pasadena

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