4540 N Lark Ellen Ave, Covina, CA 91722

4540 N Lark Ellen Ave, Covina, CA 91722

Covina, CA

Property Description

We are pleased to present this unique opportunity to acquire forty-four two bedroom one bathroom units situated in the thriving Covina market.  This asset extends the opportunity for a new investor to capitalize on healthy current rents with nearly 20% upside potential.  The owner has meticulously maintained the property, it is in outstanding condition. The building features an abundance of parking (73 spaces).  Lush landscaping throughout, inviting pool and spa area, separate barbecue pit and a relaxing gazebo within the common area.  Large laundry room which produces significant income.  The asset is situated within walking distance to Northview High School and Lark Ellen Elementary school.  This outstanding location is also in close proximity to many other local amenities and freeways.

Property Features

  • Sale Price: $11,999,999
  • Year Built: 1984
  • Closing Date: 12/23/2020
  • Units: 44
  • Market GRM: 12.98
  • Market Cap Rate: 5.33%
  • Current NOI: $693,407

Lyon Stahl Investment Real Estate

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