SOLD 08/01/2023
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Commercial sold for $1,990,000 in 37 days
322 N Prospero Dr Covina, CA, 91723
Off the market Other
We are pleased to offer for sale this 6 unit, one of a kind, multi-family investment property in the city of Covina. The subject property is comprised of 5 two-story townhouse style units and one traditional apartment unit. The unit mix consists of 1(3Bed/2.5Bath) Town-House “Owner’s Unitâ€, 3(3Bed/1.5Bath) Town-Houses, 1(2Bed/1.5Bath) Town-House, 1(2Bed/1.5Bath) unit. Tenants enjoy an onsite laundry facility and covered car-port parking. The current owner has kept the rents quite modest for the area allowing a new investor the ability to “substantially improve†the subject property and increase the rental rates by as much as 60+%. By repositioning the property, a new investor can realize an 8+% cash on cash return when utilizing the private seller financing available. Private seller financing terms: 30% Down Payment, 6.5% Interest Only Payments, Due and Payable in 5 years.
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Property details
7,154 sqft interior area
Land area
7,780 sqft (0.18 acres)
Address
322 N Prospero Dr, Covina, CA, 91723
City of California
Covina
County
Los Angeles
Year Built
1963
District
Covina
Nearby major retailers
Costco
Lowe's
ALDI
Albertsons
Aldi
Trader Joe's
T-Mobile
Walmart Supercenter
Walmart Neighborhood Market
Wholesale: 2
Do it yourself: 2
Supermarket: 11
Mobile phone: 2
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Interior Features
—
Garage & Parking
Assigned
Listed by
Kristopher German, RE/MAX 2000 REALTY
Name
Kristopher German
License number
01800021
Brokerage company
RE/MAX 2000 REALTY
MLS #
CRCV23113471
Buyer agent
Name
Kristopher German
Brokerage company
RE/MAX 2000 REALTY
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Mortgage
$6,110
Taxes
$0
HOA dues
$0
Mortgage
$398,000 / 20%
2.28%
30 years
Your amount
$6,110 / month
Lot details
TMK #8429033007
Parcel nr.
8429033007
91723 info
Essentials nearby
Neighborhood stats
Walkability
Coffee shops
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no data
Bus stop
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no data
Supermarket
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no data
Costco
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no data
Hospital
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no data
Park
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no data
Beach
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no data
Elementary school
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no data
Middle school
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no data
High school
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no data
Local airport
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no data
People living in 91723
41%
Families with children
National average: 39%
23%
Non family households
355,502
Population
$99,221
Average Income
Age & gender
Median age 37 years
More info
Commute types
89% commute by car
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Education level
25% have high school education
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Number of employees
2% work in education and healthcare
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Vehicles available
36% have 2 vehicle
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Vehicles by gender
36% have 2 vehicle
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Housing market insights for
$801.83k
Neighborhood average
sales price*
sales price*
$756.5k
Neighborhood median
sales price*
sales price*
454
Number
of sales*
of sales*
Housing type
64% are single detacheds
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Rooms
37% of the houses have 4 or 5 rooms
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Bedrooms
64% have 2 or 3 bedrooms
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Owners vs Renters
65% are owners
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10.33 / 20
Below 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 Aug 1, 2023
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| Aug 1, 2023 | Sold | $1,990,000 | 0 | Public Record |
| Aug 1, 2023 | Price Increase | $1,990,000 +10.86% | 0 | MLS #CRCV23113471 |
| Jul 18, 2023 | Pending | $1,795,000 | 0 | MLS #CRCV23113471 |
| Jun 26, 2023 | New Listing | $1,795,000 | 0 | MLS #CRCV23113471 |
Taxes of 322 N Prospero Dr, Covina, CA, 91723
CVRD zoning / MLS #CRCV23113471
Zoning
CVRD
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Frequently Asked Questions about 322 N Prospero Dr
What is 322 N Prospero Dr?
322 N Prospero Dr is a Commercial/Industrial propertywith 7,154 sqft interior space.
What is the rental income?
-
What is the full address of this Commercial?
322 N Prospero Dr, Covina, CA, 91723.
What comparable properties are nearby?
Comparable nearby commercial properties include 663 E Ruddock St, 845 E Edna Pl, 316 E Orlando Way, 607 S Barranca Ave, 233 W Badillo St, 1463 N Hollenbeck Ave.
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: Aug 01, 2023
Verhouse Last checked 4 minutes ago
The closest grocery stores are Vons, 0.46 miles away and Stater Bros., 0.7 miles away.
The 91723 zip area has a population of 355,502, and 41% of the families have children. The median age is 37.75 years and 89% commute by car. The most popular housing type is "single detached" and 65% is owner.
