About this home

708 E Ruddock Street, Covina offers investors a compelling combination rarely found in Southern California multifamily: a 14-unit asset with no local rent control, central air conditioning, and a below market basis. Set on a quiet cul-de-sac in one of Covina's most established neighborhoods, this pride-of-ownership community sits on an expansive 34,279 square foot lot.The freedom from local rent control is significant. While many nearby submarkets cap owners' ability to push rents toward market, Covina gives ownership full flexibility to reposition the property as units turn, with only state level regulatory ceiling on the upside. Unit sizes stand out too, averaging over 1,000 square feet, well above the norm for this submarket. Six of the fourteen units are townhouse-style, offering a true two-story living experience that drives tenant loyalty and premium rents. Each unit also has its own individual water heater, keeping utility costs low and operations simple. Parking is another strength: 40 spaces across two-car garages, one-car garages, covered parking, and on-grade parking, well above typical ratios nearby. A gated entrance and quiet cul-de-sac setting round out the property's appeal and keep turnover low. The rent roll reflects a stable, well-run asset at 100% occupancy with many long-term tenants in place.Current rents span a wide range, from the $1,300s to nearly $2,200 for similarly configured units, pointing to clear upside as units turn.For investors seeking dependable in-place income paired with an easy to realize path to rent growth, 708 E Ruddock Street is the most compelling multifamily investment opportunity available in Covina today.

Facts and features

Schools

• Sierra Vista Middle School

  middle · 6-8 · 0.5 mi

  6

• Ben Lomond Elementary School

  elementary · K-5 · 0.7 mi

  7

• South Hills High School

  high · 9-12 · 1.9 mi

  8

• Sonrise Christian School

  elementary · K-8 · 0.6 mi

• Vincent Children's Center

  elementary · K · 2.4 mi

• Tri-Community Adult

  elementary · 0.2 mi

Price history

• Sep 28, 2026 · Listed$4,100,000
• Jun 21, 1985 · Sold$887,500

Tax history

• 2025$24,262 tax · $1,497,787 assessed
• 2024$22,530 tax · $1,468,420 assessed
• 2023$22,253 tax · $1,411,401 assessed
• 2022$21,990 tax · $1,383,727 assessed
• 2021$21,631 tax · $1,356,596 assessed
• 2020$21,386 tax · $1,342,687 assessed
• 2019$21,199 tax · $1,316,360 assessed
• 2018$20,113 tax · $1,290,550 assessed

Where it is