Property Detail

21306 Arrow

Covina CA 91724

$4,498,000

Status: Active

Property Details

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.

Map Location

Listing provided courtesy of Handoko Chen of Growth Investment Group Pasade. Last updated 2026-07-30 08:11:03.000000. Listing information © 2025 CRMLS.

Ever Eternity

Ever Eternity

CA DRE# 01794748

1111 Prospect St, Suite 100 La Jolla,
​​​​​​​CA 92037

858.688.4113

Contact Me
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Welcome

Meet Ever

Ever Eternity is Your Local Real
Estate Professional

Whether it's your first townhouse, vacation property or coastal dream home, I will work to find the property that's best for you. I am able to anticipate and fulfill each of my clients needs, in order to find the perfect home for them and their family. I am here to work with you, to find the best fit for you, and am excited for the opportunity.

People choose to work with me for my full service expertise, experience and ethics. My base of loyal customers is the reason I am successful in this competitive sales market.

​My attention to detail allows me to find dream homes for buyers, and build thorough home marketing plans for my sellers. I have great pride in my negotiation skills and believe in transparency and full disclosure throughout each deal. I value open communication with my clients and welcome questions from start to close.

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"My Mom passed away 1/31/21 needless to say it was a very difficult time for me. I needed help selling my mothers home. I reached out to Ever and he stepped up big! From the beginning he was a true professional great communication skills, great attitude, always made time for me and answered any questions I had. He showed compassion for my situation and went above and beyond to make things as easy as possible for me. Go with Ever you won’t regret it!"

"I worked with Ever through the process of an Estate Sale and sale of a condominium. Throughout the experience he and his team were extremely helpful. I had never been involved with an estate sale previously and was working with the additional factor of not being local. After an initial meeting I was able to deal with he and his team remotely which simplified the entire process and experience. Any questions or issues I had were very quickly addressed and resolved. My entire experience was very positive. Thank You!"

"Ever was simply excellent. He is thorough, approachable and very knowledgable of the house buying process. We appreciated his manner and help throughout our purchase process - he never made us feel pressured to select a house and helped us find a perfect match. He was especially helpful when we needed to juggle urgent travel during the Escrow process, helping us set up power of attorney. We would recommend Ever to any type of buyer and will certainly use him for any future real estate needs that we have."

"I worked with Ever through the process of an Estate Sale and sale of a condominium. Throughout the experience he and his team were extremely helpful. I had never been involved with an estate sale previously and was working with the additional factor of not being local. After an initial meeting I was able to deal with he and his team remotely which simplified the entire process and experience. Any questions or issues I had were very quickly addressed and resolved. My entire experience was very positive. Thank You!"

"My Mom passed away 1/31/21 needless to say it was a very difficult time for me. I needed help selling my mothers home. I reached out to Ever and he stepped up big! From the beginning he was a true professional great communication skills, great attitude, always made time for me and answered any questions I had. He showed compassion for my situation and went above and beyond to make things as easy as possible for me. Go with Ever you won’t regret it!"

"Ever has been my agent through two purchases and one sale. He has a keen sence of the market and knows how best to price and time sales and purchases. He makes sure to get the job done and places the most importance on making his satisfying his clients wishes to the best of his ability. He works well with escrow, property managers, and whomever he needs to speak with."

"Working with Ever was a joy. We had a number of unexpected challenges during the process of selling our house and Ever was consistently there to help, guide, and support us. He was always available for consultation and never lost sight of the immediate issues nor the long term goals. Ever was an exemplary professional in every way and I would highly recommend him."

"Working with Ever was a great experience. Selling our Mom's house was emotionally difficult for us. Ever guided us thru the process and made it smooth and easy as possible for us. He responded to all of our questions with professionalism and knowledge. He kept us informed of every action during the sale. We trusted his advice and insights and he delivered on everything he said. The sale was quick and smooth and we couldn't be happier. We highly recommend Ever. He definitely knows his business."

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