Covina, CA 91723 327 N Prospero Drive
$1,975,000
Pending
3 more
Presented By: Kristopher German with RE/MAX 2000 REALTY; 909-645-0443
Beds • 16
Full/Half Baths • 7 / 7
SQFT • 7,876
Year Built • 1963
Home Details
We are pleased to exclusively present this rare value-add 7-unit multifamily investment opportunity in the highly sought-after city of Covina. The property is comprised of a desirable unit mix featuring mostly two-story townhouse-style layouts, including (2) 3-bedroom / 1.5-bath units, (2) 2-bedroom / 1.5-bath units, and (3) 2-bedroom / 1.5-bath single-level units. Each unit offers a spacious and functional floor plan, averaging approximately 1,100 square feet—an uncommon feature for buildings of this era.
Residents enjoy a gated entry, covered parking, private patios or balconies, and the convenience of an on-site laundry facility. Each unit is individually metered for gas and electricity, allowing for simplified utility management and reduced operating expenses.
With over 50% rental upside, this asset presents a compelling opportunity for investors to reposition the property and significantly increase cash flow. Located in a strong rental market with consistent demand, this well-located and generously sized property is ideal for the value-driven investor seeking long-term growth and stability.
Presented By: Kristopher German with RE/MAX 2000 REALTY; 909-645-0443
Interior Features for 327 N Prospero Drive
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace FeaturesLivingRoom
Fireplace Y/NYes
Heating Y/NYes
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 327 N Prospero Drive
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Carport Spaces6.0
Carport Y/NYes
CityCovina
Community FeaturesStreetLights, Sidewalks
CoolingWallWindowUnits
CountyLos Angeles
Current FinancingNone
Directions327 N Prospero Drive, Covina, CA
Electric On Property Y/NNo
Entry Location1
Garage Spaces0.0
Garage Y/NNo
Gross Income137340.0
HOANo
HOA Fee$0.0
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense6500.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCashToNewLoan
Lot Size Square Feet7745.0
Lot Size UnitsSquareFeet
MLS Area614 - Covina
MaintenanceExpense5250.0
MobileHomeRemainsYNNo
Net Operating Income90925.0
New ConstructionNo
Number Of Units Total7
Operating Expense42295.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
RoofShingle
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusPending
StatusPending
Stories2
Tax Lot10
Taxes$22,895
Tenant PaysElectricity, Gas
Total Actual Rent11375.0
Trash Expense3300.0
UtilitiesElectricityAvailable, NaturalGasAvailable, SewerAvailable, WaterAvailable
Water Sewer Expense3300.0
Waterfront Y/NNo
Year Built1963
Year Built SourceAssessor
ZoningCVRD2000*
Exterior for 327 N Prospero Drive
Building Area Total7876.0
Crops Included Y/NNo
FencingWood
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesZeroToOneUnitAcre
Lot Size Acres0.1778
Lot Size Area7745.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters7
Number of Separate Gas Meters7
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesCarport
Private PoolNo
SpaNo
Total Parking6.0
Water SourcePublic
Additional Details
Price History
Keegan Cin
Team Lead
