316 Orlando Way

Covina, CA 91723

$1,700,000
Price
5
Beds
7
Baths
4,692 Sq. Ft.
$362 / Sq. Ft.
4,692
Sq. Ft.
$362
per Sq. Ft.

Description

Seller financing available. We are pleased to exclusively present the opportunity to acquire 316 East Orlando Way, a 6-unit multifamily investment property in the city of Covina, California. The property is a two-story building constructed in 1962 with a building size of 4,692 square feet and is situated on a 7,956 square feet parcel. The property consists of five one-bedroom/one-bathroom and one two-bedroom/two-bathroom floor plans. The property features a secured entrance, on-site laundry room,...Seller financing available. We are pleased to exclusively present the opportunity to acquire 316 East Orlando Way, a 6-unit multifamily investment property in the city of Covina, California. The property is a two-story building constructed in 1962 with a building size of 4,692 square feet and is situated on a 7,956 square feet parcel. The property consists of five one-bedroom/one-bathroom and one two-bedroom/two-bathroom floor plans. The property features a secured entrance, on-site laundry room, two storage rooms, covered stairwell, and eight carport parking spaces with storage units. Selected units offer a fireplace in the living room. The units are individually metered for gas and electricity. The offering is conveniently located just one mile north from the closest on and off ramp of Interstate 10 Freeway, providing residents with east access to cities in San Gabriel Valley and Inland Empire. With a very walkable score of 73 out of 100, the apartment building has an ideal rental location in a stable residential neighborhood of Covina. The property is surrounded by major retail and grocery stores including Walmart, Target, Sprouts, IKEA, and Stater Bros. Markets. Six of the many Covina-Valley Unified Schools are within a two-mile radius of the subject property, attracting long-term residents. The Covina-Valley Unified School District was recently presented with the California Gold Ribbon Schools Award, ranked the Best Elementary Schools by U. S. News and World Report, and awarded the Golden Bell Winner by the California School Boards Association. For higher education, both Mt. San Antonio College and California State Polytechnic University are a short ten-minutes’ drive away from the subject property. Ranked the top 3% of community colleges in the country, Mt. San Antonio College is a public community college that offers more than 400 degree and certificate programs, 36 support programs, and more than 50 student clubs and athletic programs. Situated on more than 1,700 acres of land, Cal Poly Pomona is one of three polytechnic universities in the California State University system devoted primarily to the instruction of technical arts and applied sciences, and the university has been recognized as a U. S. Fulbright Scholar Top Producing Institution for STEM fields.
316 East Orlando Way is less than a mile from Downtown Covina, which has a remarkable variety of unique shops, beauty salons, restaurants, and live entertainment venues.
  1. Listed by Douglas McCauley • DRE #01155706 • Brokerage DRE #00530854 • MARCUS & MILLICHAP • 626-695-6776
  2. Listed by David Covarrubias • DRE #01941403 • Brokerage DRE #00530854 • MARCUS & MILLICHAP

Property Details for 316 Orlando Way

Parking Spaces Total
0
Private Pool
No
Total Units
6.0
Building Type
Attached
Lot Size Source
Other
Living Area
4692
Assessor Parcel Number
8445-030-002
Property Attached YN
true

Location

Listing Courtesy of MARCUS & MILLICHAP, Douglas McCauley, DRE #01155706; MARCUS & MILLICHAP, David Covarrubias, DRE #01941403
Add your commute
LISTING UPDATED: 04/26/2024 06:09 AM

Property Details for 316 Orlando Way

StatusActive
MLS #CV24061637
Days on Market33
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1962
Lot Size0.18 AC / 7,840 SF
CountyLos Angeles County

Location

Listing Courtesy of MARCUS & MILLICHAP, Douglas McCauley, DRE #01155706; MARCUS & MILLICHAP, David Covarrubias, DRE #01941403
Add your commute

Building Information for 316 Orlando Way

Stories2Residences-Year Built1962Building Size-Lot Size0.18 AC / 7,840 SF

Payment Calculator

$9,278 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,278

Property Taxes

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 316 Orlando Way

Income / Expense / Tax Details
Income Details
  • Gross Income: $112,500
  • Gross Scheduled Income: $113,460
  • Vacancy Allowance: 3404
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $110,056
  • Net Operating Income: $73,550
  • Laundry Income: $1,244
  • Other Income Description: Storage
  • Other Income 1: $1,200
Expense Details
  • Operating Expense: $38,950
  • Operating Expense Percent: 34.60%
  • New Taxes Expense: $19,805
  • Gardener Expense: $1,285
  • Fuel Expense: $0
  • Electric Expense: $1,289
  • Insurance Expense: $5,000
  • Maintenance Expense: $5,000
  • Professional Management Expense: $0
  • Trash Expense: $4,152
  • Water Sewer Expense: $2,419
  • Total Expenses: $38,950
Tax / Assessment Info
  • Tax Tract Number: 21655
  • Tax Lot: 13
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: Front
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: Rectangular Lot
  • Number Of Units: 6
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,450
  • Unit Type Total Rent: $1,450
  • Unit Type Pro Forma: 1656
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,530
  • Unit Type Total Rent: $1,530
  • Unit Type Pro Forma: 1656
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,570
  • Unit Type Total Rent: $1,570
  • Unit Type Pro Forma: 1656
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,845
  • Unit Type Total Rent: $1,845
  • Unit Type Pro Forma: 2007
  • Unit Type Type: 4
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1

Property History for 316 Orlando Way

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 316 Orlando Way

This home is within Covina-Valley Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Barranca Elementary School
PublicK to 5

Sierra Vista Middle School
Public6 to 8

South Hills High School
Public9 to 12

Fairvalley High (Continuation) School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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316 Orlando Way is a mixed use property for sale in Covina, CA 91723. This property was listed for sale on March 28, 2024 by MARCUS & MILLICHAP, it's currently listed at $1,700,000. This listing's school district is Covina-Valley Unified School District. Nearby schools include Barranca Elementary School, Sierra Vista Middle School and South Hills High School. 316 Orlando Way is a 5-bed, 7-bath, 4,692 sqft mixed use property built in 1962.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of MARCUS & MILLICHAP, Douglas McCauley, DRE #01155706; MARCUS & MILLICHAP, David Covarrubias, DRE #01941403

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.