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Multifamily

663 E Ruddock St

663 E Ruddock St, Covina, CA 91723

Listing Price: $1,960,000

Cap Rate
4.44%
Number of Units
7
GRM
12.04
Occupancy
100.0%
Price/Unit
$280,000

Investment Overview

Seller Financing at 5% Interest Only - Marcus & Millichap is pleased to exclusively present the opportunity to acquire 663 East Ruddock Street, a 7-unit multifamily investment property in the city of Covina, California. The property is a two-story building constructed in 1961 with a building size of 5,656 square feet and sits on a 7,373 square feet parcel. The property consists of two one-bedroom/one-bathroom units and five two-bedroom/one-bathroom units. The property features a fenced well-maintained front lawn, secured entrance, and an on-site laundry room. Parking is accessible via rear alley, and there are three double-car garages and one single-car garage. The front unit offers a private patio. All units are individually metered for gas and electricity. Landlord pays for water and trash. Seller offers an assumable loan at 3.10% interest rate.
For ease of commute, the offering is conveniently located one and a half mile away from Interstate 10 Freeway and only one mile away from the Metrolink Covina Station which offers the San Bernardino Line, taking travelers west to Union Station in Los Angeles and east to Redlands in the Inland Empire. In addition, the Covina-Valley Unified School District is within a 10-minute walk of the subject property, and more than eight public and private schools are within a one-mile radius of the property. 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 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.
663 E Ruddock Street is one mile east of 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

  • Seller Financing at 5% Interest Rate
  • Over 20% Rental Upside
  • Double and Single-Car Garages
  • On-Site Laundry Facility | Gated Entry
  • Individually Metered for Gas and Electricity
  • Close Proximity to Mt. San Antonio College & Col Poly Pomona
  • Population In Excess of 390,000 Within a 5-Mile Radius
  • Average Household Income Over $109,000 Within a 5-Mile Radius

Exclusively Listed By

Multifamily

663 E Ruddock St

Listing Price: $1,960,000

Cap Rate
4.44%
Number of Units
7
GRM
12.04
Occupancy
100.0%
Price/Unit
$280,000

Investment Highlights

  • Seller Financing at 5% Interest Rate
  • Over 20% Rental Upside
  • Double and Single-Car Garages
  • On-Site Laundry Facility | Gated Entry
  • Individually Metered for Gas and Electricity
  • Close Proximity to Mt. San Antonio College & Col Poly Pomona
  • Population In Excess of 390,000 Within a 5-Mile Radius
  • Average Household Income Over $109,000 Within a 5-Mile Radius

Investment Overview

Seller Financing at 5% Interest Only - Marcus & Millichap is pleased to exclusively present the opportunity to acquire 663 East Ruddock Street, a 7-unit multifamily investment property in the city of Covina, California. The property is a two-story building constructed in 1961 with a building size of 5,656 square feet and sits on a 7,373 square feet parcel. The property consists of two one-bedroom/one-bathroom units and five two-bedroom/one-bathroom units. The property features a fenced well-maintained front lawn, secured entrance, and an on-site laundry room. Parking is accessible via rear alley, and there are three double-car garages and one single-car garage. The front unit offers a private patio. All units are individually metered for gas and electricity. Landlord pays for water and trash. Seller offers an assumable loan at 3.10% interest rate. For ease of commute, the offering is conveniently located one and a half mile away from Interstate 10 Freeway and only one mile away from the Metrolink Covina Station which offers the San Bernardino Line, taking travelers west to Union Station in Los Angeles and east to Redlands in the Inland Empire. In addition, the Covina-Valley Unified School District is within a 10-minute walk of the subject property, and more than eight public and private schools are within a one-mile radius of the property. 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 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. 663 E Ruddock Street is one mile east of 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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