Covina Multifamily Investment
254 W Dexter, Covina, CA 91723
Apartment - Covina, CA
Type:Apartment
Property size:
13,000 SFLot size:
16,921.00 AcresPrice / SF:
$307/SF- Added:
- May 22, 2026
- Days on Market:
- 9
- Last Refresh:
- May 30 at 10:06 am
Property Features for 254 W Dexter
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Bedrooms
- 24
- Bathrooms
- 9
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Kitchen, Living Room
- Parking
- 15
- Parking features
- Carport
- Interior features
- Granite Counters, Carbon Monoxide Detector(s)
- Exterior features
- Community Features Included: Suburban, Sprinklers In Front
- Appliances
- Range
- Standard status
- Active
- APN
- 8444010018
- Size
- 13,000 SF
- Lot size
- 16,921.00 Acres
Utilities
- Heating system
- Wall Furnace
- Cooling system
- Multi Units, Wall/Window Unit(s), Window Unit(s)
Building Details
- Year built
- 1963
- Floors in Building
- 2
- Number of units
- 13
- Architectural style
- Other
Listing agent Lauren Davis License #01245985 (626) 255-1576
Listing office MARK ANDERSEN & ASSOCIATES 1037 Park View Dr. #B, Covina, CA (626) 967-2486
Listing date May 22, 2026
MLS# CV26112129
Listing URL
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Rare, fully occupied multifamily asset with predominantly large 3‑bedroom units, appealing to families.
- Central Covina location with convenient access to transportation, retail, schools, and employment centers.
- Most units extensively upgraded with updated flooring, kitchens, bathrooms, and fixtures, reducing capital expenditure.
- Strong rental demand and potential for continued rental upside.
- Desirable commuter access to employment centers throughout Los Angeles County.
- Carport parking amenity for tenants.
Overview
This property features 12 spacious 3-bedroom, 1.75-bathroom apartment homes, and one studio unit. Most units have undergone interior upgrades, enhancing tenant appeal. 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, proximity to major transportation corridors, retail amenities, schools, and regional employment centers. The large floor plans appeal to a variety of households seeking affordable alternatives to single-family housing in the San Gabriel Valley. The property is located in Los Angeles County, CA, with a lot size of 0.3884527089072544 acres and a property size of 13000 Square Feet. Carport parking is available for tenants, and there is a coin-operated laundry onsite for extra income. The property offers desirable commuter access to employment centers throughout Los Angeles County and potential continued rental upside.
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.
Property Profile
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 apartments with upgraded units and rental 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.; Central Covina location with convenient access to transportation, retail, schools, and employment centers.; Most units extensively upgraded with updated flooring, kitchens, bathrooms, and fixtures, reducing capital expenditure.
