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Property profile & analytics
OFF-MARKET Estimated value $1,170,000
Office buildings

248 Rowland St Covina, CA 91723-3148

5,400 SF 0.27 ac lot Built 1963
Entity Owned 3-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US10-0348092
Property summary
AI-generated overview

This exceptional 5,400 square foot office building presents a compelling investment opportunity in the thriving city of Covina, California. Situated on a 0.27-acre lot at 248 Rowland Street, this property enjoys a highly visible location on a busy thoroughfare. The building is currently divided into two separate units, each equipped with its own utilities and restrooms. Both units are fully leased to long-term tenants, providing immediate and consistent cash flow. The property includes 14 dedicated parking spaces, a significant advantage in this area. Rowland Street is experiencing a surge in development activity, with notable high-end retail and restaurant projects underway nearby. This positive trend underscores the property's strategic location within a dynamic and expanding market, making it an attractive asset for both investors seeking redevelopment potential and owner-users looking for a well-established presence in a growing commercial corridor. The strong tenant occupancy and the area's revitalization efforts combine to create a promising investment with significant upside potential. This is a rare opportunity to acquire a well-positioned, income-producing property in a rapidly developing area of Covina.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1963
Construction TILT-UP CONCRETE
Total area 5,400 SF
Lot 0.27 ac (11,735 SF)
Zoning code CVC3YY
APN 8451-003-020
UPID US10-0348092
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • HUB International Insurance Agency
  • MEDWORKS Medical Billing Medical Billing Service Accountant
  • Bellehaven Insurance Services Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$747k
Blend (final) Blend
$1.17M
Owner & transaction history
4834 San Bernardino LLC · 3 yrs held
4834 San Bernardino LLC
since 2023
6 recorded transactions
2023
Price N/A
2016
$1.0M
2012
Price N/A
2008
Price N/A
2007
$879,909
1994
Price N/A
Zoning & alternative use
CVC3YY · Covina, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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