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1553 Dennis Pl 3 Unit Apartment Building $1,499,000 ($499,667/Unit) 5.31% Cap Rate West Covina, CA 91790
EXECUTIVE SUMMARY
Price Just Dropped! Back on the market subject to cancellation of previous escrow. Discover a rare investment opportunity with this gated triplex located on a quiet cul-de-sac in the heart of West Covina. Each of the three well-maintained, two-story units offers central A/C, in-unit laundry, and separate gas and electric meters, providing comfort, privacy, and efficiency for residents. Unit A boasts 1,541 sq. ft., while Units B and C each offer 1,020 sq. ft. All units are two stories with no one living above or below, eliminating noise concerns and enhancing the peaceful living experience. The property is ideal for investors or owner-occupants looking to live in one unit while renting out the others, with strong rental potential in a highly desirable neighborhood. The gated entrance adds extra security, and the tranquil cul-de-sac setting boosts residential appeal. No HOA fees and low operating costs. There’s also potential to add several ADUs for additional income—buyer to verify with the city. Conveniently located near the West Covina Mall, major freeways, schools, and dining, this property combines prime location, flexibility, and long-term value—don’t miss out on this exceptional opportunity!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$103,800
|
$28.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$103,800
|
$28.99
|
| Taxes |
$19,248
|
$5.38
|
| Operating Expenses |
$8,664
|
$2.42
|
| Total Expenses |
$27,912
|
$7.80
|
| Net Operating Income |
$75,888
|
$21.20
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $103,800 |
| Annual Per SF | $28.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $103,800 |
| Annual Per SF | $28.99 |
| Taxes | |
|---|---|
| Annual | $19,248 |
| Annual Per SF | $5.38 |
| Operating Expenses | |
|---|---|
| Annual | $8,664 |
| Annual Per SF | $2.42 |
| Total Expenses | |
|---|---|
| Annual | $27,912 |
| Annual Per SF | $7.80 |
| Net Operating Income | |
|---|---|
| Annual | $75,888 |
| Annual Per SF | $21.20 |
PROPERTY FACTS Under Contract
| Price | $1,499,000 | Building Class | C |
| Price Per Unit | $499,667 | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 3,580 SF |
| Cap Rate | 5.31% | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1979 |
| Property Subtype | Apartment | Parking Ratio | 0.56/1,000 SF |
| Zoning | WCR3-MF20* | ||
| Price | $1,499,000 |
| Price Per Unit | $499,667 |
| Sale Type | Investment |
| Cap Rate | 5.31% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 3,580 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 0.56/1,000 SF |
| Zoning | WCR3-MF20* |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer Hookup
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2.5 | 1 | $3,250 | 1,541 |
| 2+1.5 | 2 | $2,700 | 1,020 |
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1553 Dennis Pl
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