Great opportunity to purchase a 14 unit apartment building near downtown Covina. The building offers eight 2-bedroom/1-bathroom units and six 1-bedroom/1-bathroom units. The exterior has been recently and completely repainted, and the parking and asphalt areas have been fully redone. The property features manicured grounds with a spacious interior courtyard for residents to enjoy. One of the two-bedroom units is completely remodeled and currently unrented, with an estimated rental income of $2,200 per month. The remaining seven two-bedroom units are currently rented at $1,400 per month, and the one-bedroom units are rented at $1,240 per month. The current gross income is $239,520, and with rent increases due in May, this will rise to $257,725.44. The operating income, factoring in the new property taxes at a rate of 1.25%, will be $69,225.60. Calculating with a 3% vacancy rate, the cap rate for this building is currently at 4.4%, which, with the upcoming rent increases in May, will increase to 4.9%.
Property Details
Property Features
Property Information:
Year Built: 1960
Stories: 2
Listing Office:
Office Name: RE/MAX MASTERS REALTY
Office Phone: (909) 292-7888
Listing Agent: Nicholas Abbadessa
Interior Features
Interior Information:
Appliances: Disposal, Gas Range
Fireplace: None
Exterior Features
Exterior Information:
Private Pool: No
View: None
Parking Information:
Garage Space: 8 spaces
Lot Features
Lot Information:
Lot: Sprinklers
Lot Size: 0.47 Acres
Utilities
Utilities Information:
Heating: Wall Furnace
Cooling: Wall/Window Unit(s)
Other
Directions Information:
Directions: West of Citrus on Dexter, north side of the street
Price Information
Listing Price Info
Price Summary:
List Price: $3,400,000
Tax Information:
Annual Amount: $24,061
Tax Year: 2021
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Covina, CA.
This property is $2.6M more than the Median Sold Price in Covina, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #CV24238095
Listing Office:
Office Name: RE/MAX MASTERS REALTY
Office Phone: (909) 292-7888
Listing Agent: Nicholas Abbadessa
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: 12/26/2024, 10:20:58 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
Aug 16, 1989
Aug 16, 1989Home Sold
$970,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$24,061
$1,619,968
2020
$23,558
$1,603,358
2019
$22,577
$1,571,920
2018
$22,115
$1,541,099
2017
$22,115
$1,510,883
History based on county public records data.
Payment Calculator
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$17K
Per Month
Principal & Interest
$16.9K
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$10.2K
Powered By
Advertisement
NMLS#3030
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
7
/10
Barranca Elementary School
727 S Barranca Ave
Distance between this listing and this school0.84 miles
Public District Grades KG-5
6
/10
Workman Avenue Elementary School
1941 E Workman Ave
Distance between this listing and this school0.87 miles
Public District Grades KG-5
7
/10
Cypress Elementary School
351 W Cypress St
Distance between this listing and this school0.87 miles
Public District Grades KG-5
Nearby Schools
7
/10
Traweek Middle School
1941 E Rowland Ave
Distance between this listing and this school0.69 miles
Public District Grades 6-8
5
/10
Sierra Vista Middle School
777 E Puente St
Distance between this listing and this school1.04 miles
Public District Grades 6-8
7
/10
Las Palmas Middle School
641 N Lark Ellen Ave
Distance between this listing and this school1.49 miles
Public District Grades 6-8
Nearby Schools
6
/10
Covina High School
463 S Hollenbeck Ave
Distance between this listing and this school0.42 miles
Public District Grades 9-12
10
/10
Mt. Sac Early College Academy at West Covina
2226 E Rio Verde Dr
Distance between this listing and this school1.23 miles
Public District Grades 9-12
6
/10
Northview High School
1016 W Cypress St
Distance between this listing and this school1.25 miles
The neighbors living near this home have an average income of $79,337. Typical income of Covina, CA residents is between $35k-100k annually. Most families are 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 221 W Dexter St
What is the listing price of this property?
The listing price of 221 W Dexter St property is $3,400,000.
What type of property is this?
The property 221 W Dexter St is a condo located in Covina, California, 91723.
Is this property for sale now?
Sale Pending: 221 W Dexter St is Sale Pending (Pending), which means that the seller has accepted an offer but the sale is not finalized.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $24,061 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on August 16, 1989 for $970,000. (source: MLS/tax record).
Which year was this property built?
The year of construction for 221 W Dexter St is 1960.
By checking this box and submitting your personal information, you agree to our Terms of Use and Privacy Policy. You also expressly consent to having Rocket Homes Real Estate LLC, its Family of Companies, Rocket Homes Network Partners, and potentially our mortgage partners contact you about your inquiry by text message or phone (including automatic telephone dialing system, AI voice, or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Rocket Homes Real Estate, LLC or its partners. By communicating with us by phone, you consent to calls being recorded and monitored. You also agree that we can share your personal data and contact information with third parties such as mortgage partners, partner companies, and affiliates, and that these parties may use your personal data and contact information for marketing and analytic purposes, and to improve your experience.
This home is located at 221 W Dexter St in Covina, CA and zip code 91723 in the The San Gabriel Valley neighborhood. This home, which was built in 1960, sits on a 0.47 acre lot. It has been listed on Rocket Homes since November 23, 2024 and is currently priced at $3,400,000.
Covina, CA housing market in November 2024 saw over 10 listings sold above listed price, more than 5 sold at listed price and over 10 sold below. In November 2024 in Covina, CA there were 2.7% more homes for sale than in October 2024. While the average time on the market in November 2024 was 37 days, the median list price was $770,000.
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. 
Major League Soccer (MLS)
Major League Soccer (MLS)
Music Concerts
Pro Boxing
Banana Republic
H&M
IKEA
Jack In The Box
Chipotle
Quiznos
Toyota
Volkswagen
Lexus
Jazz
Rhythmic Contemporary Hits