Price improvement motivated seller bring all offers. We are pleased to present for sale a 20-unit multifamily property situated at 19531 E Cienega Ave in Covina. This property offers investors the opportunity to acquire a pride-of-ownership, value-add real estate asset in the heart of the San Gabriel Valley. Constructed in 1988, the property features a favorable unit mix consisting entirely of large 2-bedroom, 2-bathroom units. The units total approximately 16,191 square feet on a spacious 0.94-acre lot. Each unit includes its own patio or balcony and is separately metered for gas and electricity, providing added convenience. The property boasts an onsite laundry facility, a swimming pool, and secure gated entries. Parking accommodations include ample carports and uncovered spaces on the large lot. Offered on the market for the first time in over 20 years, the majority of the units have been renovated by the owner. Current rents are significantly below market, providing over 25% upside on rents. Additionally, there is potential for extra rental income by adding accessory dwelling units (ADU), subject to verification by the buyer. Strategically positioned, 19531 E Cienega Ave offers convenient access to a multitude of amenities and attractions. The property is located in close proximity to supermarkets, national retailers, restaurants, and schools, with easy access to major transportation arteries, including the 210 and 10 freeways and the Covina Metrolink Station. This sought-after location provides investors with the prospect of acquiring a lucrative multifamily asset poised to generate substantial cash flow while offering a hedge against inflation in the thriving city of Covina.
Property Details
Property Features
Property Information:
Year Built: 1988
Stories: 2
Living Area: 16,191 SqFt
Listing Office:
Office Name: Colliers International Greater Los Angel
Office Phone: (949) 724-5500
Listing Agent: Edward Pan
Interior Features
Interior Information:
Appliances: Dishwasher
Interior: Ceiling Fan(s)
Bedroom and Bathroom Information:
Total Bedroom Count: 40
Exterior Features
Parking Information:
Parking: Carport
Lot Features
Lot Information:
Lot Size: 0.94 Acres
Utilities
Utilities Information:
Heating: Central
Cooling: Central Air
Other
Directions Information:
Directions: North side of E Cienega Ave near Grand Ave
Price Information
Listing Price Info
Price Summary:
List Price: $6,588,000
Price Per SqFt: $407/SqFt
Tax Information:
Annual Amount: $28,987
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Covina, CA.
This property is $5.8M more than the Median Sold Price and $105/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: #24433699
Listing Office:
Office Name: Colliers International Greater Los Angel
Office Phone: (949) 724-5500
Listing Agent: Edward Pan
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, 9:21:01 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
DATE
EVENT
PRICE
Jun 01, 2001
Jun 01, 2001Home Sold
$1,580,000
Mar 11, 1988
Mar 11, 1988Home Sold
$340,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$28,987
$2,202,184
2020
$28,395
$2,176,952
2019
$26,994
$2,134,268
2018
$26,560
$2,092,420
2017
$26,560
$2,051,393
History based on county public records data.
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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.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
6
/10
Cedargrove Elementary School
1209 N Glendora Ave
Distance between this listing and this school0.44 miles
Public District Grades KG-6
7
/10
Ben Lomond Elementary School
621 E Covina Blvd
Distance between this listing and this school0.46 miles
Public District Grades KG-5
7
/10
Washington Elementary School
325 W Gladstone St
Distance between this listing and this school0.78 miles
Public District Grades KG-6
Nearby Schools
8
/10
Royal Oak Middle School
303 S Glendora Ave
Distance between this listing and this school1.43 miles
Public District Grades 7-8
5
/10
Sierra Vista Middle School
777 E Puente St
Distance between this listing and this school1.43 miles
Public District Grades 6-8
5
/10
Center Middle School
5500 N Cerritos Ave
Distance between this listing and this school1.67 miles
Public District Grades 7-8
Nearby Schools
7
/10
Charter Oak High School
1430 E Covina Blvd
Distance between this listing and this school0.67 miles
Public Charter Grades 9-12
2
/10
Sierra High School
1040 E Gladstone St
Distance between this listing and this school1.10 miles
Public District Grades 9-12
5
/10
Oak Knoll Alternative
1505 Sunflower Ave
Distance between this listing and this school1.47 miles
The neighbors living near this home have an average income of $59,601. Residents of Covina, CA typically earn between $35k-100k each year. The most common type of family is single, no kids. Typical level of education for residents in this area is post secondary degree.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 19531 E Cienega Ave
What is the listing price of this property?
The listing price of 19531 E Cienega Ave property is $6,588,000.
What type of property is this?
The property 19531 E Cienega Ave is a house located in Covina, California, 91724.
Is this property for sale now?
Active Listing: 19531 E Cienega Ave 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 $28,987 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on June 1, 2001 for $1,580,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 19531 E Cienega Ave has 40 bedrooms and 40 bathrooms.
What is the square footage of this property?
The property 19531 E Cienega Ave is 16,191 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 19531 E Cienega Ave is 1988.
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This home is located at 19531 E Cienega Ave in Covina, CA and zip code 91724 in the The San Gabriel Valley neighborhood. This 16,191 square foot home, which was built in 1988, sits on a 0.94 acre lot. Features: 40 bedrooms, 40 bathrooms. It has been listed on Rocket Homes since August 30, 2024 and is currently priced at $6,588,000.
Over 17 listings were sold over their listed price in October 2024 in Covina, CA. In the same period over 5 listings were sold below the listed price and 2 listings were sold for the listed price. Between September 2024 and October 2024, Covina, CA real estate market has seen decrease in the number of listings by 9.6%. In October 2024, listings were on the market for 20 days. During the same period, the median list price in this real estate market was $760,000.
From Rocket Homes Real Estate and based on county public records data.
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. 
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