$10,000
closing credit¹
1033 W Cypress St Covina, CA 91722
Property details
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.
Highlights
Summary
- MLS Number: 24459205
- MLS Name: CRMLS
- 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: 1/22/2025, 5:20:59 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$2,200,000
1033 W Cypress St
$10,000
closing credit¹
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Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Mar 03, 2020 | Home Sold | $1,500,000 |
| May 30, 2014 | Home Sold | $900,000 |
| Sep 27, 2000 | Home Sold | $318,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2021 | $1,507,969 | $20,159 |
| 2020 | $1,008,801 | $14,100 |
| 2019 | $989,021 | $13,516 |
| 2018 | $969,630 | $13,225 |
| 2017 | $950,619 | $13,225 |
History based on county public records data.
Nearby schools
8
Grovecenter Elementary School
Public District KG-5
0.8 mi
•775 N Lark Ellen Ave
7
Cypress Elementary School
Public District KG-5
0.9 mi
•351 W Cypress St
4
Valleydale Elementary School
Public District KG-5
1.0 mi
•700 S Lark Ellen Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $75,765. Most Covina, CA residents have annual incomes between $35k-100k. Residents typically live in married, with kids family. The most common level of education of people living in this area is high school diploma.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
Pro Boxing
Tennis
Live Theatre
Where do the neighbors shop?
IKEA
Crate & Barrel
Bloomingdales
Where do the neighbors go to eat?
Quiznos
Starbucks
Boston Market
What do the neighbors drive?
Lexus
BMW
Mercedes
What do the neighbors listen to?
Soft Adult Contemporary
News- Alternative
Frequently asked questions
About 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 1, 2024 and is currently priced at $2,200,000.
In December 2024, from all listings sold in Covina, CA there were more than 14 sold above asking price, over 11 sold below and more than 6 were sold right at the asked price. The number of homes for sale in Covina, CA decreased by 3.5% between November and December 2024. In December 2024, listings were on the market for 32 days. During the same period, the median list price in this real estate market was $780,000.