Covina Multifamily with Upgraded
254 W Dexter, Covina, CA 91723
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Fully occupied Covina multifamily property with upgraded units and upside.
Type:Multifamily
Property size:
13,000 SFPrice / SF:
$307/SF- Added:
- May 21, 2026
- Days on Market:
- 10
- Last Refresh:
- May 27 at 8:14 am
Property Features for 254 W Dexter
General Information
- Standard status
- Active
- Size
- 13,000 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1953
Listing agent Lauren Davis License #01245985
Listing office Mark Andersen Assoc (626) 255-1576
Listing date May 21, 2026
Source Crexi
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 Mark Andersen Assoc
HighLights
- Rare, fully occupied multifamily asset with predominantly large 3‑bedroom units, appealing to families seeking affordable housing.
- Extensively upgraded units minimize near‑term capital expenditure requirements.
- Central Covina location provides strong tenant demand due to proximity to transportation, retail, schools, and employment centers.
- Desirable commuter access to employment centers throughout Los Angeles County.
- Strong rental demand for family‑sized units offers potential for continued rental upside.
- Carport parking amenity and coin‑operated laundry provide tenant convenience and extra income.
Overview
This multifamily property features twelve 3-bedroom, 1.75-bathroom apartment homes and one studio unit. The unit mix is attractive and seldom available. The large floor plans appeal to households seeking affordable alternatives to single-family housing in the San Gabriel Valley. Most units have undergone interior upgrades, enhancing tenant appeal while reducing near-term capital expenditure requirements for a new owner. Improvements may include updated flooring, kitchens, bathrooms, fixtures, and interior finishes. The property benefits from consistent occupancy and strong tenant demand due to its central location within Covina and proximity to major transportation corridors, retail amenities, schools, and regional employment centers. The property is fully occupied with stable tenancy. There is potential for continued rental upside. Tenants have commuter access to employment centers throughout Los Angeles County. Carport parking is available for tenants. A coin-operated laundry is onsite for extra income. The property size is 13000 square feet.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $413.4k | $31.80 |
| − Vacancy | −$33.1k | −$2.54 |
| EGI | $380.3k | $29.26 |
| − OpEx | −$171.1k | −$13.17 |
| NOI | $209.2k | $16.09 |
13,000 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.99M
$2.61M – $3.49M
NOI $209,180 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.96M
$6.09M – $8.12M
NOI $487,210 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Covina
- County
- Los Angeles
- State
- California
- Longitude
- -117.8864426
- Latitude
- 34.0835134
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Fully occupied Covina multifamily property with upgraded units and upside.
Where is this apartment building located?
The property is located at 254 W Dexter Covina, CA.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: Rare, fully occupied multifamily asset with predominantly large 3‑bedroom units, appealing to families seeking affordable housing.; Extensively upgraded units minimize near‑term capital expenditure requirements.; Central Covina location provides strong tenant demand due to proximity to transportation, retail, schools, and employment centers.
