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254 W Dexter St 13 Unit Apartment Building $5,512,700 CAD ($424,054 CAD/Unit) 4.76% Cap Rate Covina, CA 91723
Investment Highlights
- Rare multifamily asset with predominantly 3-bedroom units
- Most units extensively upgraded
- Fully occupied with stable tenancy
- Attractive San Gabriel Valley Location
Executive Summary
Property Overview:
The property features 12 spacious 3-bedroom, 1.75-bathroom apartment homes and one studio unit, creating a highly attractive unit mix seldom available in the marketplace. The large floor plans appeal to a variety of households seeking affordable alternatives to single-family housing in the San Gabriel Valley. Most units have undergone interior upgrades, enhancing tenant appeal while reducing near-term capital expenditure
requirements for a new owner.
Improvements may include updated flooring, kitchens, bathrooms, fixtures, and interior finishes. The property benefits from consistent occupancy and strong tenant demand due to its central location within Covina,
proximity to major transportation corridors, retail amenities, schools, and regional employment centers.
The property features 12 spacious 3-bedroom, 1.75-bathroom apartment homes and one studio unit, creating a highly attractive unit mix seldom available in the marketplace. The large floor plans appeal to a variety of households seeking affordable alternatives to single-family housing in the San Gabriel Valley. Most units have undergone interior upgrades, enhancing tenant appeal while reducing near-term capital expenditure
requirements for a new owner.
Improvements may include updated flooring, kitchens, bathrooms, fixtures, and interior finishes. The property benefits from consistent occupancy and strong tenant demand due to its central location within Covina,
proximity to major transportation corridors, retail amenities, schools, and regional employment centers.
Financial Summary (Pro Forma - 2027) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2027) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,512,700 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $424,054 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.39 AC |
| Cap Rate | 4.76% | Building Size | 13,000 SF |
| Gross Rent Multiplier | 12.4 | Average Occupancy | 100% |
| No. Units | 13 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.08/1,000 SF |
| Zoning | CVR3-RD125 - Unit SF are approximate. | ||
| Price | $5,512,700 CAD |
| Price Per Unit | $424,054 CAD |
| Sale Type | Investment |
| Cap Rate | 4.76% |
| Gross Rent Multiplier | 12.4 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 13,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.08/1,000 SF |
| Zoning | CVR3-RD125 - Unit SF are approximate. |
Amenities
Site Amenities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 12 | $8,856 CAD | 1,045 |
| Studios | 1 | $2,104 CAD | 450 |
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 8444-010-018 | Total Assessment | $2,044,903 CAD (2025) |
| Land Assessment | $1,022,452 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,022,452 CAD (2025) | Tax Year | 2027 |
Property Taxes
Parcel Number
8444-010-018
Land Assessment
$1,022,452 CAD (2025)
Improvements Assessment
$1,022,452 CAD (2025)
Total Assessment
$2,044,903 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2027
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Presented by
Mark Andersen & Associates
254 W Dexter St
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