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Listed By:
Vincent Medina with Lotus Property Services, Inc.; vincent@lotuspropertyservices.net
Address
2601 E Valley Boulevard, West Covina, CA
Price
$ 32,000,000
Property Attributes
  • MLS#AR23208685
  • TypeMulti-Family
  • CountyLOS ANGELES
  • CityWest Covina
  • AreaWest Covina
  • Zip91792
  • StyleApartment
  • Price$ 32,000,000
  • Bedrooms112
  • Full Bathrooms3
  • Half Bathrooms0
  • Sqr Footage73826
  • Lot Size5.2276 Acres
Data Source:
California Regional MLS (CRMLS)
Property Description

Nestled on a sprawling 5-acre expanse of vibrant greenery, Cambridge Garden Apartments welcomes you to an extraordinary residential community. Offering a total of 76 units, this property boasts 40 spacious 1-bedroom + 1-bathroom apartments, each spanning 850 sq. ft., and 36 generously sized 2-bedroom + 2-bathroom units, covering 1,050 sq. ft. This is an compelling investment opportunity with significant upside potential. Its robust construction, scenic grounds, and comprehensive amenities make it an investor's dream come true. Seize this opportunity to invest in an exceptional property that combines quality, convenience, and profitability. Key Features includes: 5 Acres of Natural Beauty: Embrace the serenity of lush, meticulously landscaped surroundings. Enhanced Security: The property is equipped with a comprehensive 24-hour video surveillance system for your peace of mind. Ample Carport Parking: Benefit from plentiful carport spaces, including hanging storage units and spacious walk-in storage. Solid 1978 Construction: Built to enduring 1978 construction standards, ensuring longevity and reliability. Resort-Style Amenities: Dive into relaxation with a generously sized swimming pool, complete with a pool house and a refreshing outdoor shower. Modern Laundry Convenience: A brand-new on-site coin-operated laundry room enhances convenience for residents. Thoughtful Layout: The property is thoughtfully designed with five separate dual-level buildings, each accommodating 12 units, eliminating the need for costly elevators. Picturesque Garden Setting: All these features are nestled within beautifully landscaped gardens, creating an inviting atmosphere. Prime Location: Situated in the northwest corner of West Covina, Cambridge Garden Apartments is adjacent to the City of Walnut and provides convenient access to the 60 & 57 freeways. Cambridge Garden Apartments is your gateway to a prosperous future.

Price History
11/15/2023 Listed $32,000,000

General Features

Sewer PublicSewer
Heating WallFurnace
Cooling WallWindowUnits
Utilities CableAvailable,ElectricityConnected,NaturalGasConnected,SewerConnected,WaterConnected
Possession CloseOfEscrow
Roof Composition,Shingle
Exterior Features Lighting,RainGutters
Zoning WCMF15*
Garage Spaces 0.0
Pool Features Community
Security Features ClosedCircuitCameras,CarbonMonoxideDetectors,ResidentManager,SmokeDetectors
Construction Materials Frame,Stucco
Year Built 1978
Tenant Pays Electricity
View Courtyard,Neighborhood
Stories 2
Levels Two
Property SubType Apartment
Gross Income 1938564.0
Community Features StreetLights,Sidewalks,Pool
County Los Angeles
Net Operating Income 1201216.0
Operating Expense 699057.0
Insurance Expense 61000.0
New Construction No
Property Type ResidentialIncome
HOA / Comm Assn No
Attached Garage No
MaintenanceExpense 76011.0
Garage Y/N No
Special Listing Conditions Standard
Status Active
Directions I-605 S and CA-60 E to S Nogales St. Take exit 20 from CA-60 E. Nogales turns onto Valley Blvd. Property on right hand side.
City West Covina
Entry Location Ground
View Y/N Yes
Senior Community Y/N No
Total Units 76
MLS Area 669 - West Covina
Lot Size Square Feet 227714.0
Private Pool No
Waterfront Y/N No
Carport Y/N Yes
Number of Units Leased 74
Street Name Valley
Listing Terms Cash,Conventional
Spa Features None
Property Attached Y/N Yes
Land Lease Y/N No
Electric Expense 10680.0
Home Warranty Y/N No
Fuel Expense 32016.0
Property Condition Turnkey
Trash Expense 33000.0
Water Sewer Expense 54000.0
Lease Renewal Y/N No
Additional Parcels Y/N No
Lease Considered Y/N No
Rent Control Y/N No
Days on Market 48
Building Area Units SquareFeet
Standard Status Active
Year Built Source Assessor
Tax Lot 2
Virtual Tour www.2601cambridgeapts.com
Total Actual Rent 159547.0
Property Sub Type Additional Apartment
Taxes 371200.0
Cap Rate 3.75
MobileHomeRemainsYN No

Interior Features

Fireplace Features None
Total Stories 2
Common Walls Item1CommonWall
Basement (Y/N) No
Air Conditioning Y/N Yes
Heating Y/N Yes
Fireplace Y/N No
Street Suffix Boulevard
Laundry Features CommonArea
Entry Level 1
Electric On Property Y/N No

Exterior Features

Parking Features Assigned,Covered,Carport,Paved,Storage
Lot Features Item25UnitsAcre
Water Source Public
Total Parking 0.0
Lot Size Area 227714.0
Number of Buildings 5
Spa No
Building Area Total 73826.0
Lot Size Acres 5.2276
Lot Size Units SquareFeet
Lot Size Source Assessor
Pool Charge 5400.0
Number of Separate Water Meters 1
Number of Separate Gas Meters 1
Number of Separate Electric Meters 77
Crops Included Y/N No
Open Parking Y/N No
Horse Y/N No
Irrigation Water Rights Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 91792

Price
AVG $16.78M
$32M
Visits
AVG 156
292
Data Provided by Inside Real Estate®
Year Built
AVG 1978
1978

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