663 East Ruddock Street

Covina, CA 91723

$1,960,000
Price
3
Beds
7
Baths
5,656 Sq. Ft.
$347 / Sq. Ft.
5,656
Sq. Ft.
$347
per Sq. Ft.

Description

SELLER FINANCING at 5% Interest Only - We are pleased to exclusively present the opportunity to acquire 663 East Ruddock Street, a 7-unit multifamily investment property in the city of Covina, California. The property is a two-story building constructed in 1961 with a building size of 5,656 square feet and sits on a 7,373 square feet parcel. The property consists of two one-bedroom/one-bathroom units and five two-bedroom/one-bathroom units. The property features a fenced well-maintained front lawn,...SELLER FINANCING at 5% Interest Only - We are pleased to exclusively present the opportunity to acquire 663 East Ruddock Street, a 7-unit multifamily investment property in the city of Covina, California. The property is a two-story building constructed in 1961 with a building size of 5,656 square feet and sits on a 7,373 square feet parcel. The property consists of two one-bedroom/one-bathroom units and five two-bedroom/one-bathroom units. The property features a fenced well-maintained front lawn, secured entrance, and an on-site laundry room. Parking is accessible via rear alley, and there are three double-car garages and one single-car garage. The front unit offers a private patio. All units are individually metered for gas and electricity. Landlord pays for water and trash. For ease of commute, the offering is conveniently located one and a half mile away from Interstate 10 Freeway and only one mile away from the Metrolink Covina Station which offers the San Bernardino Line, taking travelers west to Union Station in Los Angeles and east to Redlands in the Inland Empire. In addition, the Covina-Valley Unified School District is within a 10-minute walk of the subject property, and more than eight public and private schools are within a one-mile radius of the property. For higher education, both Mt. San Antonio College and California State Polytechnic University are a short 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. 663 E Ruddock Street is one mile east of Downtown Covina, which has a remarkable variety of unique shops, beauty salons, restaurants, and live entertainment venues. Also known as the “Covina Old Town”, Downtown Covina nestled in a three-block radius along Citrus Avenue and has a charming and nostalgic ambiance, attracting locals and visitors alike.

Property Details for 663 East Ruddock Street

Parking Spaces Total
7
Private Pool
No
Total Units
7.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
5656
Assessor Parcel Number
8429-012-022
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: 05/02/2024 07:58 AM

Property Details for 663 East Ruddock Street

StatusActive
MLS #CV24088476
Days on Market25
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1961
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 663 East Ruddock Street

Building/Complex663 E Ruddock StFloor-Stories2Residences-Pet Policy-Year Built1961Building Size-

Payment Calculator

$11,585 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,697

Property Taxes

$888

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 663 East Ruddock Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $130,273
  • Gross Scheduled Income: $133,176
  • Vacancy Allowance: 3995
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $130,273
  • Net Operating Income: $87,037
  • Laundry Income: $579
  • Other Income Description: Late Fee
  • Other Income 1: $513
  • Gross Multiplier: 14.72
  • Cap Rate: 4.44
Expense Details
  • Operating Expense: $43,236
  • Operating Expense Percent: 33.20%
  • New Taxes Expense: $22,830
  • Gardener Expense: $1,080
  • Fuel Expense: $336
  • Licenses Expense: $224
  • Pest Control Expense: $1,315
  • Electric Expense: $415
  • Insurance Expense: $3,500
  • Maintenance Expense: $6,659
  • Maintenance Percent: 5.00%
  • Professional Management Expense: $0
  • Trash Expense: $4,016
  • Water Sewer Expense: $2,861
  • Total Expenses: $43,236
Tax / Assessment Info
  • Tax Tract Number: 21003
  • Tax Census Tract: 4037.22
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 39
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Entry Location: Front
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Rectangular Lot
  • Number Of Units: 7
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 7
  • Parking Garage Spaces: 7
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,770
  • Unit Type Total Rent: $3,540
  • Unit Type Pro Forma: 1795
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 5
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,512
  • Unit Type Total Rent: $7,558
  • Unit Type Pro Forma: 1995
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1

Property History for 663 East Ruddock Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 663 East Ruddock Street

Taxable ValueLand$247,782Additions$433,700Total$681,482
Tax Record2023$10,657 ($888 / month)
Home Facts
Total Finished SqFt5,656 SqFtAbove Grade Finished SqFt5,656 SqFtLot Size7,373 SqFtStyleMulti-Family Res (5+ Units)Year Built1961ZoningCVRD2000*CountyLOS ANGELESAPN8429-012-022

Schools near 663 East Ruddock Street

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
Ben Lomond 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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

663 East Ruddock Street is a multi-family home for sale in Covina, CA 91723. This property was listed for sale on May 2, 2024 by MARCUS & MILLICHAP, it's currently listed at $1,960,000. It has been on the market for a total of 25 days and was last sold on August 15, 2002. This listing's school district is Covina-Valley Unified School District. Nearby schools include Ben Lomond Elementary School, Sierra Vista Middle School and South Hills High School. 663 East Ruddock Street is a 3-bed, 7-bath, 5,656 sqft multi-family home built in 1961.

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.