708 E Ruddock ST, Covina, CA 91723
708 E Ruddock ST, Covina, CA 91723
708 E Ruddock ST, Covina, CA 91723
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Ryan Arita

Ryan Arita

+1(818) 288-8857
$4,100,000
Est. payment /mo
28 Beds
26 Baths
14,999 SqFt
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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

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Listed by Nicholas Hayner Maywood Property Group #02090908

NEARBY SCHOOL & BUSINESS

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