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.