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Multifamily

316 E Orlando Way

316 E Orlando Way, Covina, CA 91723

Listing Price: $1,700,000

Cap Rate
4.33%
Number of Units
6
GRM
14.98
Occupancy
100.0%
Price/Unit
$283,333

Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to acquire 316 East Orlando Way, a 6-unit multifamily investment property in the city of Covina, California. The property is a two-story building constructed in 1962 with a building size of 4,692 square feet and is situated on a 7,956 square feet parcel. The property consists of five one-bedroom/one-bathroom and one two-bedroom/two-bathroom floor plans. The property features a secured entrance, on-site laundry room, two storage rooms, covered stairwell, and eight carport parking spaces with storage units. Selected units offer a fireplace in the living room. The units are individually metered for gas and electricity.

The offering is conveniently located just one mile north from the closest on and off ramp of Interstate 10 Freeway, providing residents with east access to cities in San Gabriel Valley and Inland Empire. With a very walkable score of 73 out of 100, the apartment building has an ideal rental location in a stable residential neighborhood of Covina. The property is surrounded by major retail and grocery stores including Walmart, Target, Sprouts, IKEA, and Stater Bros. Markets. Six of the many Covina-Valley Unified Schools are within a two-mile radius of the subject property, attracting long-term residents. The Covina-Valley Unified School District was recently presented with the California Gold Ribbon Schools Award, ranked the Best Elementary Schools by U.S. News and World Report, and awarded the Golden Bell Winner by the California School Boards Association. For higher education, both Mt. San Antonio College and California State Polytechnic University are a short ten-minutes’ drive away from the subject property. Ranked the top 3% of community colleges in the country, Mt. San Antonio College is a public community college that offers more than 400 degree and certificate programs, 36 support programs, and more than 50 student clubs and athletic programs. Situated on more than 1,700 acres of land, Cal Poly Pomona is one of three polytechnic universities in the California State University system devoted primarily to the instruction of technical arts and applied sciences, and the university has been recognized as a U.S. Fulbright Scholar Top Producing Institution for STEM fields.

316 East Orlando Way is less than a mile from Downtown Covina, which has a remarkable variety of unique shops, beauty salons, restaurants, and live entertainment venues. Also known as the “Covina Old Town”, Downtown Covina nestled in a three-block radius along Citrus Avenue and has a charming and nostalgic ambiance, attracting locals and visitors alike. One of the prominent features of downtown Covina is its central plaza, which hosts events such as the weekly farmer’s markets, Thunderfest Car & Music Festival, and the Christmas Parade. With its convenience of urban amenities and its small-town charm, the city of Covina is an attractive place to live for many residents.

Investment Highlights

  • Excellent Location – Less Than One Mile to Downtown Covina & I-10 Freeway
  • On-Site Laundry | Secured Entrance
  • Eight Carport Parking with Storage Units
  • Individually Metered for Gas and Electricity
  • Close Proximity to Mt. San Antonio & Cal Poly Pomona
  • Population Over 442,000 within a 5-Mile Radius
  • Average Household Income Exceeding $106,000 within a 5-Mile Radius

Exclusively Listed By

Multifamily

316 E Orlando Way

Listing Price: $1,700,000

Cap Rate
4.33%
Number of Units
6
GRM
14.98
Occupancy
100.0%
Price/Unit
$283,333

Investment Highlights

  • Excellent Location – Less Than One Mile to Downtown Covina & I-10 Freeway
  • On-Site Laundry | Secured Entrance
  • Eight Carport Parking with Storage Units
  • Individually Metered for Gas and Electricity
  • Close Proximity to Mt. San Antonio & Cal Poly Pomona
  • Population Over 442,000 within a 5-Mile Radius
  • Average Household Income Exceeding $106,000 within a 5-Mile Radius

Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to acquire 316 East Orlando Way, a 6-unit multifamily investment property in the city of Covina, California. The property is a two-story building constructed in 1962 with a building size of 4,692 square feet and is situated on a 7,956 square feet parcel. The property consists of five one-bedroom/one-bathroom and one two-bedroom/two-bathroom floor plans. The property features a secured entrance, on-site laundry room, two storage rooms, covered stairwell, and eight carport parking spaces with storage units. Selected units offer a fireplace in the living room. The units are individually metered for gas and electricity. The offering is conveniently located just one mile north from the closest on and off ramp of Interstate 10 Freeway, providing residents with east access to cities in San Gabriel Valley and Inland Empire. With a very walkable score of 73 out of 100, the apartment building has an ideal rental location in a stable residential neighborhood of Covina. The property is surrounded by major retail and grocery stores including Walmart, Target, Sprouts, IKEA, and Stater Bros. Markets. Six of the many Covina-Valley Unified Schools are within a two-mile radius of the subject property, attracting long-term residents. The Covina-Valley Unified School District was recently presented with the California Gold Ribbon Schools Award, ranked the Best Elementary Schools by U.S. News and World Report, and awarded the Golden Bell Winner by the California School Boards Association. For higher education, both Mt. San Antonio College and California State Polytechnic University are a short ten-minutes’ drive away from the subject property. Ranked the top 3% of community colleges in the country, Mt. San Antonio College is a public community college that offers more than 400 degree and certificate programs, 36 support programs, and more than 50 student clubs and athletic programs. Situated on more than 1,700 acres of land, Cal Poly Pomona is one of three polytechnic universities in the California State University system devoted primarily to the instruction of technical arts and applied sciences, and the university has been recognized as a U.S. Fulbright Scholar Top Producing Institution for STEM fields. 316 East Orlando Way is less than a mile from Downtown Covina, which has a remarkable variety of unique shops, beauty salons, restaurants, and live entertainment venues. Also known as the “Covina Old Town”, Downtown Covina nestled in a three-block radius along Citrus Avenue and has a charming and nostalgic ambiance, attracting locals and visitors alike. One of the prominent features of downtown Covina is its central plaza, which hosts events such as the weekly farmer’s markets, Thunderfest Car & Music Festival, and the Christmas Parade. With its convenience of urban amenities and its small-town charm, the city of Covina is an attractive place to live for many residents.

Exclusively Listed By

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