78-Unit Apartment
For Sale
$22,500,000
19550 E Cienega Avenue, Covina, CA 91724
Two-story apartment community with gated pool, spa, upgraded interiors, and on-site laundry facilities.
Property Size65,688 SF
Lot Size3.35 Acres
Days on Market54
Property Features for 19550 E Cienega Avenue
General Information
Standard status
Active
Size
65,688 SF
Total Parking Spaces
177
Lot size
3.35 Acres
Property subtype
Apartment
Units
Unit Mix
49 x 2BR/2BA, 29 x 3BR/2BA
Multifamily Units
78
Taxes and HOA fees
Annual Taxes
$254,703
Amenities
gated pool and spa
barbecue areas
property-owned laundry facility
Building Details
Building Size
65,688 SF
Year Built
1988
Buildings
4
Stories
2
Listing Agency:
Keller Williams Realty/Pasadena
Listed By:
KEVIN LUTZ · License #00925595
(626) 429-0685
Source:
Archetyperealty
Added: Sep 8
Changed: Oct 30
Last Checked: Oct 28 at 1:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty/Pasadena
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Investment Insights
Based on property information with market context.
This 78-unit apartment property comprises four two-story buildings on 3.35 acres. The unit mix includes 49 two-bedroom, two-bath residences and 29 three-bedroom, two-bath residences. Community amenities include a gated pool and spa, barbecue areas, 177 parking spaces, and a laundry facility owned by the property. Interior improvements have been completed in approximately 68% of the units, including stone countertops, custom cabinetry, and full appliance packages in upgraded residences.
The property is located in the Charter Oak neighborhood of Covina within unincorporated Los Angeles County. A pool and spa renovation was completed in 2024, and Building B's roof was replaced in 2026. The asset is subject to the LA County Rent Stabilization Ordinance, and the source information identifies potential for ADU additions, subject to buyer evaluation. The property was built in 1988 and has been family owned and operated for 37 years.
The property is located in the Charter Oak neighborhood of Covina within unincorporated Los Angeles County. A pool and spa renovation was completed in 2024, and Building B's roof was replaced in 2026. The asset is subject to the LA County Rent Stabilization Ordinance, and the source information identifies potential for ADU additions, subject to buyer evaluation. The property was built in 1988 and has been family owned and operated for 37 years.
Key Highlights
- 78 units across four two‑story buildings on 3.35 acres
- Unit mix includes 49 two‑bedroom/two‑bath and 29 three‑bedroom/two‑bath residences
- 177 on‑site parking spaces plus a property‑owned laundry facility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,056,972
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$21,139,440
$21.1M
Cap Rate 7%
$15,099,600
$15.1M
Cap Rate 9%
$11,744,133
$11.7M
Market Conditions
NOI Build-Up for 65,688 SF
Gross rent
$2.09M $31.80/SF
− Vacancy
−$167.1K −$2.54/SF
EGI
$1.92M $29.26/SF
− OpEx
−$864.8K −$13.17/SF
NOI
$1.06M $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$21,139,440
Cap Rate 7%
$15,099,600
Cap Rate 9%
$11,744,133
Alternative Uses
Best Use
Apartment 5plus
$15.10M
$13.21M – $17.62M
NOI $1,056,972 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$35.17M
$30.77M – $41.03M
NOI $2,461,837 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
78
Residential units
Location Intelligence
Trade Area within ½ mile
918
Businesses Nearby
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Business Placement
Demographics for 91724, CA
27,180
Population
9,372
Households
2.9
Avg Household Size
41
Median Age
36%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
4,384
Density / Sq Mi
$102,129
Median Household Income
$49,276
Median Earnings
$2,056
Median Rent
$722,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story apartment community with gated pool, spa, upgraded interiors, and on-site laundry facilities.
Where is this apartment building located?
The property is located at 19550 E Cienega Avenue Covina, CA.
What is the asking price?
The asking price for this property is $22,500,000.
What are key features of this property?
This property features: 78 units across four two‑story buildings on 3.35 acres; Unit mix includes 49 two‑bedroom/two‑bath and 29 three‑bedroom/two‑bath residences; 177 on‑site parking spaces plus a property‑owned laundry facility
