2426 Nancy Street S, West Covina, California 91792, West Covina, 91792 - bed, bath

2426 Nancy Street S, West Covina, California 91792 home-pic-0
ACTIVE$1,625,000
2426 Nancy Street S, West Covina, California 91792
0Bed
0Bath
4,050Sqft
11,503Lot
Year Built
1978
Close
-
List price
$1.63M
Original List price
$1.63M
Price/Sqft
$401
HOA
$225
Days on market
-
Sold On
-
MLS number
CV24237683
Home ConditionFair
Features
Pool
Patio
View-

About this home

We found 2 Cons,3 Pros. Rank: price - $1.62M(88th), sqft - 4050(50th), beds - undefined(50th), baths - undefined(50th).

We are delighted to present this well-maintained four-unit property in the desirable community of Woodbridge in West Covina, conveniently located within a short walking distance of three supermarkets, restaurants, and public transportation. This outstanding asset is right across to the community pool and comprises the following units: ***Unit 1: A spacious 3-bedroom, 1.5-bathroom unit featuring a large living room with a fireplace, a dining room, and a kitchen with ample cabinetry. This unit also offers a private patio, a powder room downstairs, an upstairs bathroom with dual sinks, and an attached two-car garage. ***Unit 2: This is a 2-bedroom, 1.5-bathroom unit with a living room, dining room, and a good-sized kitchen. It also has a guest powder room downstairs, a full bath upstairs, a private patio, an attached one-car garage, and a covered carport. ***Unit 3: Similar in layout to Unit 2, this 2-bedroom, 1.5-bathroom unit includes an attached one-car garage and an additional uncovered parking space. ***Unit 4: A 2-bedroom, 1-bathroom unit featuring a living room, dining room, and a good-sized kitchen. It also has a shared full bath with an extra sink, a balcony, a one-car garage, and an uncovered parking space. Separate meters for electricity and gas Individual laundry hookups 20% upside in rent Long term tenants Buyers are to cooperate with the seller’s 1031 exchange at no cost. This property is a gem in a sought-after community popular with renters, perfect for investors looking for a stable asset with appreciating value as an addition to their portfolio. The back of the building has the potential to build one ADU.

Condition Rating
Fair

The property was built in 1978 and appears to have been maintained but not recently renovated. The kitchens and bathrooms show their age with older cabinetry and fixtures. While functional, they are outdated. The overall condition suggests it requires minor updates to bring it to modern standards.
Pros & Cons

Pros

Income Potential: The property offers a 20% upside in rent, presenting a significant opportunity to increase revenue.
Desirable Location: Located in the desirable Woodbridge community of West Covina, within walking distance of supermarkets, restaurants, and public transportation, enhancing tenant appeal.
ADU Potential: The back of the building has the potential to build one ADU, further increasing the property's value and income potential.

Cons

1031 Exchange Requirement: Buyers are required to cooperate with the seller's 1031 exchange, which may add complexity to the transaction.
Long-Term Tenants: While long-term tenants provide stability, it may limit immediate rent increases to market value.

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