2847 N Monte Verde, Covina, California 91724, Covina, 91724 - 3 bed, 2 bath
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Covina, California 91724
This property presents a High-Potential Investment Opportunity with a List Price of $1,690,000—positioned well above the $1,301,604 Fair Market Value. While the current structure holds a Fair Condition Rating requiring significant modernization, the expansive 40,181 sqft lot offers Exceptional Development Potential through a pending lot split and ADU opportunities. Featuring Scenic Mountain Views and a prime South Hills location, this asset is a strategic play for those focused on long-term land value. This is an ideal acquisition for Real Estate Developers or Value-Add Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2847 N Monte Verde Subject | $1,690,000* List Price | 3 | 2 | 2,032 | $700 | - |
A 2322 Cameron Avenue Sold | $1,600,000 | 4 | 2 | 2,734 | $585 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1954, the property shows significant age with bathrooms featuring 30-40 year old oak cabinetry and tile. While some rooms have updated laminate flooring and fresh paint, the listing's heavy focus on land value, lot splits, and 'investor opportunity' indicates the structure requires a full rehab to be competitive.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 40181, living area = 2032.
The expansive 40,181 sqft lot is a rare find in South Hills, offering significant upside through a potential lot split, ADU construction, or the development of a custom luxury estate.
Situated in the highly desirable South Hills area of Covina, the property enjoys a quiet, upscale neighborhood setting with convenient access to high-quality schools, shopping, and dining.
Built in 1954, the existing 2,032 sqft home may require extensive modernization or a complete rebuild to meet the standards of today’s luxury buyers, adding to the total investment cost.
While a lot split application has been submitted, approval is not guaranteed, requiring the buyer to navigate city departments and verify feasibility for future development plans.
Rare Opportunity in the Desirable South Hills/Covina Area! Situated in a beautiful and quiet neighborhood, this single-story home built in 1954 features 3 bedrooms, 2 bathrooms, approximately 2,030sqft of living space, and a 2-car garage. Sitting on an expansive approx. 40,000sqft lot with scenic views, the property offers tremendous potential for future development, expansion, possible lot split, ADU opportunities, and more. Seller has submitted a lot split application with the city. Buyer to independently verify the current status, requirements, feasibility, and future development potential with the appropriate city departments. Conveniently located near shopping, dining, schools, parks, and freeway access. Excellent opportunity for investors, developers, or buyers looking to create their dream estate.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 2,032 | 1,440 |
| Lot Size | 40,181 | 7,213 |
| Price | $1.69M | $814.0K |
| Price per sq ft | $832 | $545 |
| Built year | 1954 | 1956 |
| HOA | $0 | $0 |
| Days on market | 68 | 48 |
May 15, 2026
$1,690,000
Initial Listing
Apr 1, 2022
$1,360,000
Public Record