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$1,530,000
2426 Nancy Street S, West Covina, California 91792
0Bed
0Bath
4,050Sqft
11,503Lot
Year Built
1978
Close
-
List price
$1.53M
Original List price
$1.53M
Price/Sqft
$378
HOA
$225
Days on market
-
Sold On
-
MLS number
CV25174185
Home ConditionFair
Features
Good View:
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.53M(75th), 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, 2-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, 1.5-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, and is ideal for investors seeking a stable asset with appreciating value to add to their portfolio. The back of the building has the potential to build one ADU (SB 1211).

Price History

Date
Event
Price
08/02/25
$1,530,000
Condition Rating
Fair

Built in 1978, this property is 46 years old. While described as 'well-maintained,' the visible interior spaces, including the bathroom and bedrooms, show significant signs of age. The bathroom features an outdated vanity, basic fixtures, and older flooring. Bedrooms have worn, old carpeting and popcorn ceilings. There is no visual evidence of recent major renovations, and the overall aesthetic is dated. Major components appear functional but are clearly outdated, indicating regular upkeep rather than significant modern upgrades. The absence of kitchen photos suggests they are likely in a similar dated condition.
Pros & Cons

Pros

Strong Income & Growth Potential: This four-unit property offers immediate income generation with a stated 20% upside in rent, indicating significant potential for increased cash flow. Furthermore, the possibility of adding an ADU (SB 1211) presents a clear value-add opportunity to further boost rental income and property value.
Prime Location & Amenities: Situated in the desirable Woodbridge community of West Covina, the property boasts excellent walkability to three supermarkets, various restaurants, and public transportation. Its direct proximity to the community pool further enhances tenant appeal and lifestyle convenience.
Desirable Unit Mix & Features: The property features a diverse unit mix, including a spacious 3-bedroom, 2-bathroom unit, which is highly sought after. Individual units offer private patios, balconies, and a combination of attached garages and covered/uncovered parking, catering to a broad tenant base.
Operational Efficiency for Landlord: Key features like separate meters for electricity and gas, along with individual laundry hookups for each unit, significantly reduce landlord utility expenses and simplify property management, making it more attractive for investors.
Stable Investment Asset: Described as a 'stable asset with appreciating value' and benefiting from 'long-term tenants,' this property offers a reliable income stream and a solid foundation for long-term investment, appealing to those seeking consistent returns.

Cons

Seller's 1031 Exchange Requirement: The requirement for the buyer to cooperate with the seller’s 1031 exchange, while stated as 'at no cost,' could potentially introduce additional complexities or delays in the closing process, requiring careful coordination.
Property Age & Potential Maintenance: Built in 1978, the property is over 45 years old. While described as 'well-maintained,' older properties typically incur higher ongoing maintenance costs and may require significant capital expenditures for system upgrades (e.g., plumbing, electrical, roofing) in the near future.
Ongoing Association Fees: The property is subject to a monthly association fee of $225.0. This recurring cost adds to the operational expenses for the owner, which can impact the net operating income and overall return on investment.

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