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21306 E Arrow

Covina, CA 91724

$4,498,000 $18,963/Mo

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Overview

Bed

Bath

34,896

Sqft(Lot)

Description

First Time for Sale Since 1975 – Exceptionally Rare 16-Unit Single-Story Value-Add Multifamily across from City of Glendora and at the border of San Dimas, Offering Over 8% Pro Forma CAP Rate (All Month-to-Month Tenants). Centrally Located Near Shopping, Major Freeways, and Minutes from Colleges and Universities. Excellent Unit Mix (All 2-Bed), Situated on a Large, Over-Parked Lot with Clear ADU Upside Potential (Possibly 4 ADUs – Buyer to Verify). Total 4 Units Will Be Delivered Vacant. Copper Plumbing, Roof mostly upgraded recently. 21306–21310 E Arrow Highway, Covina, CA 91724 — a rare single-story layout multifamily investment opportunity located in the City of Covina. This is the first time this property offered for sale since 1975 (50 years). This value-add investment provides an excellent opportunity for savvy investors to increase the return to market level (over 8% CAP Rate – ALL tenants are month-to-month) and add several ADUs on the lot (buyer to verify). The property is strategically located on E Arrow Highway right across from the City of Glendora and at the border of City of San Dimas, and within blocks away from multiple shopping and dining (San Dimas Plaza, Glendora Public Market, etc.). Built in 1963, the property is a single-story garden-style apartment comprised of 16 units (spread over 4 fourplexes) totaling ±14,960 square feet which translates to a large average size per unit of ±935 sf (buyer to verify). It sits on a large ±34,878 square foot C4 zoned lot (±0.80 acre). Although the property address is on Arrow Hwy, the lot sits behind 2 commercial properties which create a barrier from traffic noise and create a more private setting for the tenants. It has 2 long driveways on each side to access the property. The property consists of four (4) x fourplexes and offers a superb unit mix of ALL 2bedroom+1bathroom units (Avg. size of 935 SF/unit - buyer to verify). It is currently fully occupied, and owner occupies 2 units (which will be delivered vacant). Two of the fourplexes (8 units) have a newer roof, each unit has laundry hookups, individual water heater and separately metered for electricity and gas. Each fourplex/building has six (6) parking spaces (garage/carport) making a total of 24 parking spaces. If the new owner only give 1 parking space to each unit, there are 8 extra parking spaces that can be easily converted into 4 new ADUS (buyer to verify). Recent CAPEX include plumbing upgrades to copper pipe in 2007.

Property Details

Property Type : ResidentialIncome

Price : $4,498,000

AD Id : 88560143

MLS Id : AR26165785

Beds : 2

Lot Size : 34,896 Sqft

Year Built : 1963

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Interior Features

Roof: Shingle

Laundry Features: WasherHookup, GasDryerHookup
Heating & Cooling

Has Heating: Yes Heating: WallFurnace Has Cooling: Yes Cooling: WallWindowUnits

Building Information

Year Built: 1963

Building Area Total: 14960

Stories: 1

Pool Features: None

Private Pool: No

View: None

Lot Information

Main Square Feet: 34896 Lot Size Acres: 0.8011 Lot Size Source: Assessor Lot Size Square Feet: 34,896 Lot Description: ThirtySixToFortyUnitsAcre,Level,NearPark,NearPublicTransit,RectangularLot,StreetLevel

Listing Price Information

Listing Price: $4498000

Cash, CashToNewLoan

Tax Information

Parcel Number: 8401021060 Tax Lot: 8

Virtual Tour

Virtual Tour (External Link)

Parking Information

Parking Total: 24 AttachedCarport, Assigned

Utility Information

CableConnected, ElectricityConnected, NaturalGasConnected, PhoneAvailable, SewerConnected, WaterConnected
Location Information

Direction: 210 FWY EXIT SUNFLOWER AVE, GO SOUTH, AND LEFT ON ARROW HWY. WaterSource: Public

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ByOwner last updated this listing 08/11/2026 @ 17:33

MLS: AR26165785 LISTED BY: Handoko Chen, Growth Investment Group Pasade 626-594-4900 SOURCE: CRMLS

21306 E Arrow

Property Details

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Interior Features

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