231 231-1/2 E Dexter Street, Covina, California 91723, Covina, 91723 - 4 bed, 2 bath
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Covina, California 91723
This Dual-Unit Residential Income Property is listed at $1,050,000, offering a stable investment opportunity closely aligned with its $1,037,243 Fair Market Value. The asset features two separate well-maintained homes on a massive 8,721 sq ft R3-zoned lot, earning a Good Condition Rating for its updated kitchens, central A/C, and private deck. Located within the Covina Valley Unified district, the property provides immediate rental income or multi-generational flexibility with separately metered utilities. This is a premier choice for Buy-and-Hold Investors or Owner-Occupants looking to leverage house-hacking potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 231 231-1/2 E Dexter Street Subject | $1,050,000* List Price | 4 | 2 | 1,920 | $540 | - |
A 316 E School Sold | $870,000 | 0 | 0 | 1,796 | $484 | 0.4 mi |
B 316 E Puente Street Sold | $885,000 | 0 | 0 | 1,848 | $479 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and appears well-maintained. Although built in 1951, it features several updates including stainless steel kitchen appliances, recessed lighting, and central A/C in the front unit. The flooring is a functional mix of tile and original hardwood in good condition. While the kitchen cabinetry and tile countertops reflect an older style, the overall cleanliness and lack of deferred maintenance visible in the photos justify a 'good' rating.
The property features two separate single-family homes on a single lot, providing an excellent opportunity for multi-generational living or dual rental income streams.
Situated on a generous 8,721 sq ft R3-zoned lot, the property offers significant long-term value through potential high-density residential development or expansion.
Both units are equipped with separately metered utilities and individual laundry hookups, significantly reducing owner oversight and simplifying tenant management.
Both the front and back houses feature only one bathroom each, which may limit appeal for larger families or tenants seeking modern ensuite configurations.
Built in 1951, the property may require more frequent maintenance or capital improvements to aging systems compared to newer residential income properties.
231 & 231-1/2 E Dexter: Two separate single-family house on one 8,721 sq ft R3 lot—ideal for multi-generational living, rental income, or future development. Front House: Approx. 1,054 sq ft, 2 bed/1 bath home featuring tile flooring in main areas, wood floors in bedrooms and hallway, a spacious gourmet kitchen with indoor laundry, and central A/C for year-round comfort. Garage & Bonusroom: Detached two-car garage with an approx. 170 sq ft bonus room—ideal for storage, an office, or hobby space. Back House: Approx. 700 sq ft with private alley entrance, 2 bed/1 bath, laminate flooring in living areas and bedrooms, and tile in the kitchen, indoor laundry. Yard: Beautifully maintained front, middle, and backyards create a tranquil setting, with separately metered utilities, individual trash account, and concrete driveways offering ample parking. Note: Do not disturb occupants. Please do not walk the property. Showings by appointment only. The pictures in the living room, dining room, bedrooms and bonus room are virtual staging. All photos were taken before the tenant moved in.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 0.0 | 67% |
| Baths | 2.0 | 0.0 | 67% |
| Square foot | 1,920 | 2,415 | 50% |
| Lot Size | 8,721 | 8,311.5 | 50% |
| Price | $1.05M | $1.05M | 50% |
| Price per sq ft | $547 | $483 | 83% |
| Built year | 1951 | 1957 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 61 | 235 | 17% |
Feb 20, 2026
$1,050,000
Initial Listing