322 N Prospero Drive, Covina, CA 91723

About this property

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 “Owner’s 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.

Listing description from the August 2023 sale, as reported to CRMLS.

Sale history

$1,990,000

Sold August 2023 · listed $1,795,000, on market June 2023 · MLS #CV23113471 · Source: CRMLS

Listing Agent: KRISTOPHER GERMAN · Listing Office: RE/MAX 2000 REALTY · Contact: 626-956-0188 · Bought with: KRISTOPHER GERMAN · RE/MAX 2000 REALTY

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