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5505 N Traymore Avenue, Covina, California 91722, Covina, 91722 - 3 bed, 3 bath

5505 N Traymore Avenue, Covina, California 91722 home-pic-0
ACTIVE$899,000$1,578/sqft
Est. Value: $879,430
-2%
FairlyEstimate
5505 N Traymore Avenue, Covina, California 91722
3Beds
3Baths
1,578Sqft
7,617Lot

Price Vs. Estimate

The estimated value ($879,429.735) is $19,570.265 (2%) lower than the list price ($899,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7617, living area = 1578.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7617, other record lot size in square feet = 7550. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1578, other record living area = 948.

Compared to the nearby listings

Price:$899.0K vs avg $780.0K (+$119,000)91%
Size:1,578 sqft vs avg 1,386 sqft69%
Price/sqft:$570 vs avg $55255%

More Insights

Built in 1954 (72 years old).
Condition: Despite being built in 1954, this property has undergone extensive and recent renovations, including newly built ADUs, brand-new roofing, copper repiping, new landscaping, concrete driveway, fences, and gated entry. The kitchens and bathrooms in both the main house and ADUs feature modern cabinets, countertops, appliances, and fixtures, appearing virtually new. Flooring is consistent LVP/laminate throughout, and mini-split AC units provide modern cooling. All components meet current quality standards with no visible deferred maintenance.
Year Built
1954
Close
-
List price
$899K
Original List price
$899K
Price/Sqft
$570
HOA
-
Days on market
-
Sold On
-
MLS number
WS26011080
Home ConditionExcellent
Features
Spa
Patio
View-

About this home

A rare high-income, fully renovated multi-unit property ideal for investors or owner-users seeking strong cash flow. This turnkey property features three separate units, each with its own private entrance, offering maximum flexibility and rental appeal. The main house offers 3 bedrooms and 1 bathroom with 2 newly built ADUs converted from the garage, each featuring an open space studio with 1 bathroom, creating an excellent live-in-one, rent-out-two opportunity or a fully income-producing investment. In total there are 3 units on this property. Recent upgrades include brand-new roofing, all new copper repiping, newly constructed ADUs, fresh landscaping, a new concrete driveway, smoothed out popcorn ceilings, brand new fences, and a new gated entry. Thoughtfully updated throughout, the property is designed for low maintenance and long-term performance. With multiple income streams, separate entrances, and extensive renovations already completed, this is a true cash-flow property in a desirable Covina location—perfect for investors looking to maximize returns or homeowners wanting to offset their mortgage with rental income.

Y
Yu Ting Huang
Listing Agent

Price History

Date
Event
Price
10/10/24
Sold
$720,000
Condition Rating
Excellent
Despite being built in 1954, this property has undergone extensive and recent renovations, including newly built ADUs, brand-new roofing, copper repiping, new landscaping, concrete driveway, fences, and gated entry. The kitchens and bathrooms in both the main house and ADUs feature modern cabinets, countertops, appliances, and fixtures, appearing virtually new. Flooring is consistent LVP/laminate throughout, and mini-split AC units provide modern cooling. All components meet current quality standards with no visible deferred maintenance.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7617, living area = 1578.
High Income Multi-Unit Property: Features three separate units (main house + 2 ADUs) with private entrances, explicitly marketed for 'high-income' and 'strong cash flow,' ideal for investors or owner-users.
Extensive Turnkey Renovations: Recently underwent comprehensive upgrades including new roofing, copper repiping, ADU construction, landscaping, concrete driveway, and gated entry, ensuring a low-maintenance, ready-to-occupy property.
Flexible Investment/Owner-User Model: Offers versatile options for buyers, allowing for a 'live-in-one, rent-out-two' scenario to offset mortgage costs or a fully income-producing investment.
Modernized Infrastructure: Key updates like new copper repiping and roofing significantly reduce the risk of major deferred maintenance issues typically associated with properties built in 1954.
Desirable Covina Location: Situated in a 'desirable Covina location,' which generally supports strong rental demand and potential for property value appreciation.

Cons

MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7617, other record lot size in square feet = 7550. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1578, other record living area = 948.
Original Construction Age: Despite extensive renovations, the main structure dates back to 1954, which could lead to concerns about unseen issues or the overall longevity of non-renovated components.
Limited Main House Bathroom Count: The main 3-bedroom unit only features one bathroom, which may be inconvenient for larger families or multiple occupants and could impact rental appeal for that specific unit.
Compact ADU Layouts: The two ADUs are described as 'open space studio' units. While functional, this layout might limit the tenant pool compared to one-bedroom units and could feel restrictive for long-term occupancy.
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