West Covina (669) Homes with Multi Family Subtype

Welcome to West Covina, a vibrant city nestled in the heart of Los Angeles County, California. Known for its rich cultural diversity and family-friendly atmosphere, West Covina is a thriving community that offers a perfect blend of suburban charm and urban convenience. With its picturesque neighborhoods, excellent schools, and a wide array of shopping and dining options, it’s no wonder that West Covina is a sought-after destination for families and professionals alike.

One of the standout features of West Covina’s real estate market is its multi-family housing options. Whether you’re an investor looking to expand your portfolio or a homeowner seeking a property with rental income potential, West Covina has a variety of multi-family homes that cater to different needs and budgets. These properties range from duplexes and triplexes to larger apartment complexes, providing ample opportunities for both living and investment.

Living in a multi-family home in West Covina not only offers financial advantages but also fosters a sense of community. Many of these properties are situated in peaceful neighborhoods, allowing residents to enjoy a close-knit environment while still being just a short drive away from the bustling city life of Los Angeles. With easy access to major highways, public transportation, and an array of recreational parks, residents can enjoy the best of both worlds.

Explore the charm and opportunities that West Covina has to offer. Discover your dream multi-family home today and become a part of this dynamic community that truly feels like home.

Newest West Covina (669) Homes with Multi Family Subtype

1127 1131 E Garvey Avenue N, West Covina

$6,800,000

P1-28578 MLS ⋅ Active Status

Exceptional opportunity to acquire West Covina Terrace Apartments, a well-located 28-unit multifamily apartment community situated at 1127-1131 E Garvey Ave N in West Covina. Built in 1958, the two-story property encompasses approximately 18,382 square feet of building area on an approximately 33,829-square-foot (0.78-acre) lot.The property is currently generating approximately $539,000 in annual gross income, providing an investor with substantial in-place revenue from day one. With an asking price of $6,800,000, the property is offered at approximately $243,000 per unit, an attractive basis for a 28-unit multifamily asset in the San Gabriel Valley. In addition to its current income stream, the property offers the potential for future revenue growth through continued professional management and the opportunity to increase rents over time as permitted.West Covina Terrace features a desirable and diversified unit mix consisting of 4 studio units, 20 one-bedroom/one-bathroom units, and 4 two-bedroom/one-bathroom units. The strong concentration of highly marketable one-bedroom apartments, complemented by studio and two-bedroom residences, appeals to a broad tenant base and provides a balanced rental mix.Additional property features include a gated courtyard-style setting, community laundry facilities, 28 separately metered electrical services, and designated on-site parking for every unit. Providing each residence with assigned parking is a particularly desirable amenity in the Southern California rental market and further enhances the property's tenant appeal.Strategically positioned along the Garvey Avenue corridor, the property offers excellent access to the I-10 Freeway and is conveniently located near Plaza West Covina, shopping, restaurants, employment centers, schools and everyday services. Its central San Gabriel Valley location provides convenient connectivity to surrounding communities and the greater Los Angeles area.The surrounding area also benefits from attractive demographics, with approximately 23,000 residents and more than 7,000 households within a one-mile radius, along with a median household income of approximately $89,000.

1127 1131 E Garvey Avenue N, West Covina

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