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708 E Ruddock ST Covina, CA 91723
28 Beds
26 Baths
14,999 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 14,999 sqft
Price per Sqft $273
MLS Listing ID 26993819
Bedrooms 28
HOA Y/N No
Year Built 1978
Lot Size 0.787 Acres
Property Description
708 E Ruddock Street, Covina offers investors a compelling combination rarely found in Southern California multifamily: a 14-unit asset with no local rent control, central air conditioning, and a below market basis. Set on a quiet cul-de-sac in one of Covina's most established neighborhoods, this pride-of-ownership community sits on an expansive 34,279 square foot lot.The freedom from local rent control is significant. While many nearby submarkets cap owners' ability to push rents toward market, Covina gives ownership full flexibility to reposition the property as units turn, with only state level regulatory ceiling on the upside. Unit sizes stand out too, averaging over 1,000 square feet, well above the norm for this submarket. Six of the fourteen units are townhouse-style, offering a true two-story living experience that drives tenant loyalty and premium rents. Each unit also has its own individual water heater, keeping utility costs low and operations simple. Parking is another strength: 40 spaces across two-car garages, one-car garages, covered parking, and on-grade parking, well above typical ratios nearby. A gated entrance and quiet cul-de-sac setting round out the property's appeal and keep turnover low. The rent roll reflects a stable, well-run asset at 100% occupancy with many long-term tenants in place.Current rents span a wide range, from the $1,300s to nearly $2,200 for similarly configured units, pointing to clear upside as units turn.For investors seeking dependable in-place income paired with an easy to realize path to rent growth, 708 E Ruddock Street is the most compelling multifamily investment opportunity available in Covina today.
Location
State CA
County Los Angeles
Area 614 - Covina
Zoning CVR3-RD1250*
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance Disposal, Refrigerator
Exterior
Parking Features Attached Carport, Door-Multi, Door-Single, Garage
Building
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 8429033025
Special Listing Condition Standard
Listed by Nicholas Hayner Maywood Property Group #02090908