For more information regarding the value of a property, please contact us for a free consultation.
20628 East Arrow hwy Covina, CA 91724
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Key Details
Sold Price $2,500,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID TR-22037959
Sold Date 09/28/22
Year Built 1980
Property Description
Current Rent Roll shows approximately $11,400 per month. Most tenants are month by month and extremely below market rent. Owners have own the property for over 38 years. Over the years owner form friendships with tenants; thus, they never increase their rent year over year but most tenants with way below market rent is month by month. Some tenants have been occupying for close to 20 years now. Pro forma rent is about $16k NNN. ($1.25 NNN for RETAIL UNITS and $1.25 gross for offices) Very good location and condition. The building was built in 1980, Lot size: 33,106 sq ft and Building Size: 12,222 sq ft. Total 15 units 7 retail store with individual restrooms 8 office, share 2 men and 2 women restrooms Parking spaces: 48 + 2 handicap
Location
State CA
County Los Angeles
Interior
Laundry None
Building
Lot Description Lot 20000-39999 Sqft, Rectangular Lot, 0-1 Unit/Acre
Read Less