2225 W Merced Avenue, West Covina, California 91790, West Covina, 91790 - bed, bath
ACTIVE$1,000,000
2225 W Merced Avenue, West Covina, California 91790
0Bed
0Bath
1,714Sqft
19,972Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Consistent Rental Income: Both units are tenant-occupied with reliable, on-time payments, generating a total of $4,600/month, ensuring immediate and stable cash flow for an investor.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1714, other record living area = 1164.
Compared to the nearby listings
Price:$1.00M vs avg $905.0K (+$95,000)50%
Size:1,714 sqft vs avg 1,264.5 sqft50%
Price/sqft:$583 vs avg $78950%
More Insights
Built in 1939 (86 years old).
Condition: Despite being built in 1939, the front unit of this duplex has undergone significant recent renovations, particularly in the kitchen and bathrooms. The kitchen features modern white shaker cabinets, quartz countertops, subway tile backsplash, and stainless steel appliances. Bathrooms show updated tiling and fixtures. New LVP flooring and fresh paint are present throughout the visible areas, making the front unit move-in ready. However, the property's age, the 'partial' nature of the renovations (implying not all systems were updated), and the suboptimal HVAC (wall AC/heater and mini-split, not central) prevent it from reaching an 'Excellent' score.
Year Built
1939
Close
-
List price
$1M
Original List price
$1M
Price/Sqft
$583
HOA
-
Days on market
-
Sold On
-
MLS number
TR25260157
Home ConditionGood
Features
View-
About this home
Prime duplex investment opportunity in West Covina, conveniently located near the 10 Freeway. The front unit features 3 bedrooms and 2 bathrooms with partial renovations, a wall AC unit, and wall heater. The rear unit offers 1 bedroom and 1 bathroom, ideal for additional rental income. Both units are tenant-occupied with reliable, on-time payments. Current rents are $3,000/month (front) and $1,600/month (rear), generating a total of $4,600/month with a 3.5% cap rate. The property also boasts a gigantic yard, offering excellent potential for future development or expansion. Don’t miss this rare chance to acquire a well-located, income-producing duplex with long-term upside.
Price History
Date
Event
Price
10/31/18
Sold
$650,000
Condition Rating
Good
Despite being built in 1939, the front unit of this duplex has undergone significant recent renovations, particularly in the kitchen and bathrooms. The kitchen features modern white shaker cabinets, quartz countertops, subway tile backsplash, and stainless steel appliances. Bathrooms show updated tiling and fixtures. New LVP flooring and fresh paint are present throughout the visible areas, making the front unit move-in ready. However, the property's age, the 'partial' nature of the renovations (implying not all systems were updated), and the suboptimal HVAC (wall AC/heater and mini-split, not central) prevent it from reaching an 'Excellent' score.
Pros & Cons
Pros
Consistent Rental Income: Both units are tenant-occupied with reliable, on-time payments, generating a total of $4,600/month, ensuring immediate and stable cash flow for an investor.
Significant Lot Size & Development Potential: The property boasts a gigantic 19,972 sqft lot, offering excellent potential for future expansion, additional units, or redevelopment, adding long-term value.
Strategic Freeway Access: Conveniently located near the 10 Freeway, providing easy commuting for tenants and enhancing the property's accessibility and appeal.
Dedicated Income Property: As a duplex, it is a prime residential income investment opportunity, ideal for portfolio diversification and consistent revenue generation.
Long-Term Upside: The combination of a strong location, existing income stream, and significant development potential positions the property for long-term appreciation and value growth.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1714, other record living area = 1164.
Advanced Property Age: Built in 1939, the property's age suggests potential for outdated infrastructure, higher maintenance costs, and the need for significant capital expenditures for system upgrades.
Low Stated Capitalization Rate: The reported 3.5% cap rate indicates a relatively modest return on investment for the list price, potentially implying high operating expenses or a premium valuation for the market.
Suboptimal HVAC Systems: The front unit relies on less efficient wall AC and a wall heater, and the rear unit's HVAC is unspecified, suggesting a lack of modern central heating and cooling, which could impact tenant comfort and energy efficiency.