2517 E Walnut Creek, West Covina, CA 91791

$950,000
Sold Price
$950,000
List Price
$926,000
Closing Date
Apr 14, 2023
Status
CLOSED
MLS#
TR23031203
Year Built
1954
Lot Size
7,603
Acres
0.17
Lot Location
Back Yard, Flag Lot, Front Yard, Garden, Sprinklers In Rear, Sprinklers In Front, Lawn, Landscaped, Near Park, Near Public Transit, Sprinkler System, Street Level, Yard
Days on Market
6
Property Type
Multifamily
Style
Ranch
Property Sub Type
Duplex
Stories
One Level

Property Description

This charming duplex nestled in the heart of West Covina, California. This property is a fantastic investment opportunity for both owner/users and investors looking to grow their portfolios. The front unit features 3 bedrooms and 1.5 bathrooms, while the second unit in the back boasts 3 bedrooms and 1 bathroom. Both units are spacious, with large living rooms and dining areas perfect for entertaining guests. The total living space is 1,891 square feet and the lot size is an ample 7,603 square feet. Built in 1954, this single-story duplex has been beautifully maintained with professional landscaping and features a sparkling swimming pool situated between the two units. The property is located within walking distance to South Hills High School and is conveniently located near shopping centers, parks, schools, and has easy access to freeways. This duplex comes with central air conditioning and the owner occupies the front unit, while the tenant occupies the back unit with under-market rent on a month-to-month basis. The up-to-date solar system save you huge electricity bill for hot summer in California. This presents an opportunity for a new owner to increase rent and maximize their return on investment. The gross scheduled income is estimated to be $63,960 with a CAP rate of 5.10%. Don't miss out on this once-in-a-lifetime opportunity to own this stunning duplex in the heart of West Covina, with excellent investment potential and better returns than traditional bank accounts or risky stock market investments. This property is a must-see!

Additional Information

Appliances
Built-In Range, Dishwasher, Gas Cooktop, Gas Oven, Range Hood, Water Heater, Warming Drawer
Pool
Yes
Pool Description
In Ground, Permits, Private
Heat
Central
Cooling
Yes
Cooling Description
Central Air
View
Mountain(s), Neighborhood, Trees/Woods
Exterior Construction
Asphalt, Brick, Block, Cement Siding, Drywall, Frame, Concrete, Plaster, Stucco
Roof
Composition, Tar/Gravel
Sewer
Sewer Tap Paid
Water
Private
Interior Features
Brick Walls, Ceiling Fan(s), Granite Counters, Pantry, Recessed Lighting, Unfurnished, All Bedrooms Down, Bedroom on Main Level
Attached Structure
Detached
Number Of Units Total
2
Gross Scheduled Income
$63,960
Operating Expense
17129

Listing courtesy of Listing Agent: Steven Cheng (manbun@hotmail.com) from Listing Office: Re/Max Champions.

Listing sold by Jeannie Madali from REdefine Realty Group

Mortgage Calculator

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Calculator source: Real Geeks

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.