15 days on rocket

1033 W Cypress St, Covina, CA, 91722

$2,200,000

Home List Price

$10,000*

Closing Credit

9 Bedrooms
9 Baths
5,133 SqFt
$429/SqFt
House

Location

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1033 W Cypress St, Covina$2,200,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeOther
ParkingCarport
Year Built1963
HeatingForced Air
MLS #24459205
Lot Size0.18 Acres
StatusActive

About 1033 W Cypress St

We are pleased to present 1033 W Cypress St, a well-maintained 6-unit multifamily property in Covina, California. This prime investment opportunity offers stable tenancy in the sought-after Southern California rental market. Built in 1963, this two-story building features a desirable unit mix, including one studio, two 1-bedroom/1-bath units, and three 2-bedroom/1.5-bath units. The property offers amenities such as an on-site laundry facility, covered parking, and individual gas and electricity meters for each unit. Additionally, all units are equipped with wall-mounted air conditioning, and most have undergone significant upgrades. The property benefits from a solid tenant base, with current rents below market levels, providing great rental upside. With no local rent control in Covina, investors can capitalize on the ability to implement rent increases in line with California AB1482 guidelines. Strategically located, the property is across from Northview High School and within walking distance to other local schools. Tenants enjoy easy access to Covina's charming downtown, which offers a variety of restaurants, shops, and entertainment options. The property is also close to the Covina Metrolink station and major thoroughfares, including the 10 and 210 freeways, providing convenient commutes. This offering presents a rare opportunity to acquire a stable, income-producing asset with significant potential for rental growth and long-term appreciation in one of Southern California's resilient rental markets.

Property Details

Property Features

Property Information:

  • Year Built: 1963
  • Stories: 2
  • Living Area: 5,133 SqFt

Listing Office:

  • Office Name: Colliers International Greater Los Angel
  • Office Phone: (949) 724-5500
  • Listing Agent: Edward Pan

Interior Features

Interior Information:

  • Appliances: Microwave

Bedroom and Bathroom Information:

  • Total Bedroom Count: 9

Exterior Features

Parking Information:

  • Parking: Carport

Lot Features

Lot Information:

  • Lot Size: 0.18 Acres

Utilities

Utilities Information:

  • Heating: Forced Air

Other

Directions Information:

  • Directions: North side of Cypress St between N Azusa Ave & N Lark Ellen Ave (Across street from Northview High School)

Price Information

Listing Price Info

Price Summary:

  • List Price: $2,200,000
  • Price Per SqFt: $429/SqFt

Tax Information:

  • Annual Amount: $20,159
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Covina, CA.

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Covina, CA

City

Med. Sold Price

$760K

Med. Price/SqFt

$511

Avg. Days On Market

20

# of Sold Homes

24

1033 W Cypress St vs Covina

15 DAYS ON ROCKET

-5 Days

$2,200,000

+$1.4M More

$429/SqFt

-$83 Less

KEY TAKEAWAY

This property is $1.4M more than the Median Sold Price and $83/SqFt less than other homes in Covina, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #24459205

Listing Office:

  • Office Name: Colliers International Greater Los Angel
  • Office Phone: (949) 724-5500
  • Listing Agent: Edward Pan

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/17/2024, 7:20:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Mar 03, 2020Home Sold
$1,500,000
May 30, 2014Home Sold
$900,000
Sep 27, 2000Home Sold
$318,000

Tax History

YEARPROP. TAXASSESSMENT
2021$20,159$1,507,969
2020$14,100$1,008,801
2019$13,516$989,021
2018$13,226$969,630
2017$13,226$950,619

History based on county public records data.

Payment Calculator

$11K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$6,662

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-366419
8
/10

  • Grovecenter Elementary School

  • 775 N Lark Ellen Ave

  • 0.82 miles

  • Public District Grades KG-5

school-card-donut-366420
7
/10

  • Cypress Elementary School

  • 351 W Cypress St

  • 0.89 miles

  • Public District Grades KG-5

school-card-donut-366421
4
/10

  • Valleydale Elementary School

  • 700 S Lark Ellen Ave

  • 0.95 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $75,765. Most Covina, CA residents have annual incomes between $35k-100k. The most common type of family is married, with kids. The most common level of education of people living in this area is high school diploma.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 1033 W Cypress St

What is the listing price of this property?

The listing price of 1033 W Cypress St property is $2,200,000.

What type of property is this?

The property 1033 W Cypress St is a house located in Covina, California, 91722.

Is this property for sale now?

Active Listing: 1033 W Cypress St is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $20,159 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on March 3, 2020 for $1,500,000. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 1033 W Cypress St has 9 bedrooms and 9 bathrooms.

What is the square footage of this property?

The property 1033 W Cypress St is 5,133 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 1033 W Cypress St is 1963.

Rocket Homes›California›Los Angeles County›Covina›91722›1033 W Cypress St

This home is located at 1033 W Cypress St in Covina, CA and zip code 91722 in the The San Gabriel Valley neighborhood. This 5,133 square foot home, which was built in 1963, sits on a 0.18 acre lot. Features: 9 bedrooms, 9 bathrooms. It has been listed on Rocket Homes since November 01, 2024 and is currently priced at $2,200,000.

In October 2024, from all listings sold in Covina, CA there were more than 17 sold above asking price, over 5 sold below and more than 2 were sold right at the asked price. The inventory of homes for sale in Covina, CA between September 2024 and October 2024 decreased by 9.6%. In October 2024 median list price was $760,000 and the average listing age was 20 days.

From Rocket Homes Real Estate and based on county public records data.

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