SOLD 09/29/2023
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Commercial sold for $3,275,000 in 86 days
1011 W Cypress St Covina, CA, 91722
Off the market Other
Cypress Villa is a 12-unit multifamily investment opportunity located in Covina, California. Cypress Villa features a highly desirable mix of 2, 1 bed/1 bath units, 3, 2 bed/1 bath units, 6, 2 bed/1.5 bath units, and 1, 2 bed/2 bath unit. Additionally, the property offers amenities including private patios and balconies (select units), an on-site laundry facility, gated access, a central courtyard, and ample tuck-under parking. Currently, only 25 percent of the units have undergone significant renovations. These unit improvements include fresh paint, hardwood flooring, granite countertops, upgraded cabinetry, new fixtures, modern ceiling fans, and recessed lighting, all of which have allowed current ownership to achieve a rental premium over non-renovated units. Furthermore, a new owner could potentially increase rental income through the continuation of the in-place renovation plan. Cypress Villa benefits from its fantastic Covina location, surrounded by single-family residential neighborhoods and in close proximity to attractive area amenities. Residents enjoy the property’s walkable access to Northview High School as well as an abundance of retailers and restaurants along Azuza Avenue. Additionally, Cypress Villa is located a short drive from the Covina Train Station as well
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Property details
11,867 sqft interior area
Land area
16,988 sqft (0.39 acres)
Address
1011 W Cypress St, Covina, CA, 91722
City of California
Covina
County
Los Angeles
Year Built
1963
District
Covina
Nearby major retailers
Costco
ALDI
Albertsons
Aldi
T-Mobile
Walmart Supercenter
Walmart Neighborhood Market
Lowe's
Wholesale: 2
Supermarket: 8
Mobile phone: 2
Do it yourself: 1
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Listed by
Tyler Leeson, Marcus & Millichap RE Invest
Name
Tyler Leeson
License number
01451551
Brokerage company
Marcus & Millichap RE Invest
MLS #
CROC23120817
Buyer agent
Name
Douglas Mccauley
Brokerage company
MARCUS & MILLICHAP
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Mortgage
$10,055
Taxes
$0
HOA dues
$0
Mortgage
$655,000 / 20%
2.28%
30 years
Your amount
$10,055 / month
Lot details
TMK #8420014057
Lot Description
Level
Parcel nr.
8420014057
91722 info
Essentials nearby
Neighborhood stats
Walkability
Coffee shops
—
no data
Bus stop
—
no data
Supermarket
—
no data
Costco
—
no data
Hospital
—
no data
Park
—
no data
Beach
—
no data
Elementary school
—
no data
Middle school
—
no data
High school
—
no data
Local airport
—
no data
People living in 91722
43%
Families with children
National average: 39%
21%
Non family households
328,041
Population
$88,553
Average Income
Age & gender
Median age 35 years
More info
Commute types
89% commute by car
More info
Education level
28% have high school education
More info
Number of employees
3% work in education and healthcare
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Vehicles available
37% have 3 or more
More info
Vehicles by gender
37% have 3 or more
More info
Housing market insights for
$756.43k
Neighborhood average
sales price*
sales price*
$736.85k
Neighborhood median
sales price*
sales price*
394
Number
of sales*
of sales*
Housing type
65% are single detacheds
More info
Rooms
42% of the houses have 4 or 5 rooms
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Bedrooms
67% have 2 or 3 bedrooms
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Owners vs Renters
62% are owners
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10.5 / 20
Above Average
►
15-20
Most Walkable
10-15
Above Average
5-10
Below Average
1-5
Least Walkable
Walkability according to the National Walkability Index
Price history
Sold Sep 29, 2023
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| Sep 29, 2023 | Sold | $3,275,000 | 0 | Public Record |
| Sep 29, 2023 | Price Decrease | $3,275,000 -0.76% | 0 | MLS #CROC23120817 |
| Jul 31, 2023 | Pending | $3,300,000 | 0 | MLS #CROC23120817 |
| Jul 6, 2023 | New Listing | $3,300,000 | 0 | MLS #CROC23120817 |
Taxes of 1011 W Cypress St, Covina, CA, 91722
LCR3 zoning / MLS #CROC23120817
Zoning
LCR3
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Frequently Asked Questions about 1011 W Cypress St
What is 1011 W Cypress St?
1011 W Cypress St is a Commercial/Industrial propertywith 11,867 sqft interior space.
What is the rental income?
-
What is the full address of this Commercial?
1011 W Cypress St, Covina, CA, 91722.
What comparable properties are nearby?
Comparable nearby commercial properties include 425 E Front St, 316 E Orlando Way, 663 E Ruddock St, 607 S Barranca Ave, 970 S Village Oaks Dr, 16359 Arrow.
Based on information from the bridgeMLS as of 05-18-2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing last updated on: Sep 29, 2023
Verhouse Last checked 3 minutes ago
The closest grocery stores are Walmart Supercenter, 0.46 miles away and ALDI, 0.62 miles away.
The 91722 zip area has a population of 328,041, and 43% of the families have children. The median age is 35.71 years and 89% commute by car. The most popular housing type is "single detached" and 62% is owner.
