1011 W CYPRESS ST Covina CA 91722-3125

The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Cypress Villa, a 12-unit multifamily investment opportunity located in Covina, California.

Cypress Villa features a highly desirable mix of 2, one-bedroom units and 10, two-bedroom units. Additionally, the property offers amenities including private patios and balconies (select units), an on-site laundry facility, gated access, a central courtyard, and ample tuck-under parking. Currently, only 25 percent of the units have undergone significant renovations. These unit improvements include fresh paint, hardwood flooring, granite countertops, upgraded cabinetry, new fixtures, modern ceiling fans, and recessed lighting, all of which have allowed current ownership to achieve a rental premium over non-renovated units (see OM for more details). Furthermore, a new owner could potentially increase rental income through the continuation of the in-place renovation plan.

Cypress Villa benefits from its fantastic Covina location, surrounded by single-family residential neighborhoods and in close proximity to attractive area amenities. Residents enjoy the property’s walkable access to Northview High School as well as an abundance of retailers and restaurants along Azuza Avenue. Additionally, Cypress Villa is located a short drive from the Covina Train Station as well as Interstates 10 and 210, providing convenient access to destinations throughout Southern California.

Covina is a thriving submarket in Los Angeles County, with an average occupancy of 96.7 percent (1Q 2023) and year-over-year rent growth of 6.5 percent for 2022, demonstrating the area’s strong demand for rental housing.

Given Covina’s continued strong rental metrics as well as the property’s prime Covina location, Cypress Villa represents a unique opportunity with strong upside potential. The overall demand for well-located apartments will be a key driver in the continued growth at Cypress Villa.

*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agents.*

• Attractive Mix of One & Two-Bedroom Floor Plans

• Features 83% Two-Bedroom Units

• Luxury Interior Upgrades to Select Units

• Value-Add Opportunity Through Continuation of In-Place Renovation Plan

• Spacious Central Courtyard | Private Patios & Balconies (Select Units)

• Gated Access | Ample Tuck-Under Parking | On-Site Laundry Facility

• Blocks Away from Covina Town Square

• Within 2 Miles of Plaza West Covina

Built in 1963, Cypress Villa offers of an attractive mix of one- and two-bedroom units and amenities including tuck-under parking, gated access, a central courtyard, and on-site laundry.​

Cypress Villa is located across the street from Northview High School which has an annual enrollment of over 1,200 students.​ The property is also centrally located between numerous shopping centers whose anchor tenants include Walmart Supercenter, Berts Mega Mall, 99 Cents Only Stores, CVS, Smart & Final Extra!, Lowe's, and more.​ Cypress Villa is conveniently located in close proximity to North Azusa Boulevard and Interstates 210 and 10, providing residents with easy access to nearby employment hubs.​

Covina is a thriving submarket in metro Los Angeles County, with an average occupancy of 96.7 percent (4Q 2020) and average yearly rent growth of 5.4 percent from 2013 to 2018, demonstrating the strong demand for rental housing.​ Covina's central location and strong economic growth have made it one of Los Angeles County's most desirable and versatile markets.​

Given the strength of the overall apartment market within the city of Covina and the property's central Southern California location, Cypress Villa is a fantastic opportunity for a prospective investor.​ The overall demand for well-located apartments will be a key driver in the continued growth at Cypress Villa.​

*Drive by only.​ Do not walk the property or disturb the residents.​ Please contact the Listing Agent.​*

• A 12-Unit Multifamily Investment Property Located in Covina
• The Property Consists of 2, One-Bedroom Units and 10, Two-Bedroom Units
• Amenities Include Gated Access, a Central Courtyard, Tuck-Under Parking, and On-Site Laundry
• Located within a 0.5 Mile Radius of Numerous Retailers and Shopping Centers, Including Covina Plaza and Covina Square Shopping Center