19529 Cypress StCovina, CA 91724

Property Details for 19529 Cypress St

Year built

1984

Construction

WOOD

Lot size

0.38 AC

Property size (Sq ft)

9,207 SF

Zone code

LCR3*

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

8404-004-046

APU

8404004046

Description

This 11-unit apartment building, built in 1984, presents a compelling investment opportunity. Located at 19529 E Cypress St, Covina, CA 91724, in unincorporated Los Angeles County, this property boasts 9,207 square feet on a 0.37-acre lot. The building features eleven two-bedroom, one-bathroom units, each with two parking spaces (a mix of tuck-under with storage, carport, and open spaces). Amenities include an on-site laundry room, copper plumbing, central air conditioning and heating, and upgraded dual-pane windows in most units. Selected kitchens and bathrooms have been recently renovated. All units have individual gas and electric meters. The property enjoys a prime location near major freeways (I-210, 10, and CA-57), the Metrolink Covina Station, and numerous shopping and dining options, including Stater Bros Markets, Dollar Tree, and Vons. Nearby schools include Cedargrove Elementary, Sonrise Christian School, Royal Oak Middle School, and Charter Oak High School. Recreational opportunities abound with proximity to Kahler Russell Park and the Via Verde Country Club. The current NOI is $141,403, with a pro-forma NOI of $244,961, representing a significant upside potential. An existing loan is assumable at a fixed rate of 3.07% until October 2026. The asking price is $3,288,000, representing a price per unit of $298,909.09 and a price per square foot of $357.12. The current cap rate is 4.30%, with a pro-forma cap rate of 7.45%. The average household income within a 5-mile radius exceeds $116,000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,059,200

  6.5%

  $2,823,877

  7%

  $2,622,171

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,702,446

  Geo Method

  $2,713,745

• Alternative Use

  Use

  Valuation

  Residential

  $2,823,877

  Hospitality

  $2,586,656

  Educational

  $2,152,068

  Medical

  $2,226,080

  Retail

  $3,347,660

Location Insight

City

Covina

County

Los Angeles

State

California

Latitude

34.0962

Longitude

-117.872

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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