- 14,960
- sqft
- 1963
- year built
- Status:
- Active
- MLS #:
- AR26165785
- County:
- Los Angeles
- Listed By:
- Handoko Chen - Growth Investment Group Pasade
- Office Phone:
- (626) 594-4900
- Agent Email:
- han.chen@growthinvestmentgroup.com
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.
Highlights
- Residential Income
- Apartment
- Built in 1963
- 0.8011 Acre Lot
- $0/ HOA
- 0 Car Garage
- 101 days on Market
-
- Year Built
- 1963
-
- Stories
- 1.0
-
- Foundation
- Slab
-
- Garage Spaces
- 0.0
-
- Parking Features
- Assigned, Attached Carport
-
- Flooring
- Laminate, Tile, Carpet
-
- Pool Features
- None
-
- Cooling
- Wall Window Units
-
- Heating
- Wall Furnace
-
- Acres
- 0.8011
-
- Lot Features
- Level, Rectangular Lot, Near Public Transit, Near Park, Street Level, Thirty Six To Forty Units Acre
-
- View
- None
-
- Utilities
- Cable Connected, Natural Gas Connected, Electricity Connected, Sewer Connected, Water Connected, Phone Available
-
- Water
- Public
-
- Area
- 614 - Covina
-
- County
- Los Angeles
-
- City
- Covina
-
- Zip Code
- 91724
-
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Price History
| 07/29/2026 | Listed | $4,498,000 |
| Source: California Regional Multiple Listing Service #AR26165785 | ||
| 07/28/2026 | Listed | $4,498,000 |
| Source: San Diego MLS #AR26165785 | ||
Source: MLS Data
Deed History
| 03/09/2005 | Intrafamily Transfer - Transaction is between related parties for any reason & no consideration. | $0 |
Source: Public records via Constellation Data Labs
Mortgage History
| 05/23/2007 | Commercial | $100,000 |
Source: Public records via Constellation Data Labs
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There are currently 115 properties available in Covina, with 7 under contract to close soon. Properties in the city have an average sale price of $700,297 and typically spend 65 days on the market before being sold.
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Source: ez Home Search, MLS Data
Frequently Asked Questions
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Click Ask a Question to talk with our team. You already know it is a N/A bed, N/A bath, listed for $4,498,000. We can talk through recent upgrades, potential seller motivation, how this apartment compares to others in Covina, and can even get you in to see the property quickly.
How much is the monthly mortgage payment for 21306 E Arrow?
With a 20% down payment and a 30-year fixed loan at an illustrative 6.75% rate, the ez Mortgage Calculator estimates the monthly payment for 21306 E Arrow at around $24,389. This includes estimated property taxes and insurance.
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Can I negotiate the asking price for 21306 E Arrow?
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What is the price per square foot for this home?
This home is listed at $4,498,000 with 14,960 sqft of space—that comes out to approximately $301 per square foot.
How long has this property been on the market?
21306 E Arrow was listed on July 29, 2026, which means it's been on the market for 101 days.
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When was this house built?
This home was built in 1963, making it approximately 63 years old.
What is the lot size of this property?
21306 E Arrow sits on a 0.8-acre lot, which is 34,848 square feet.
Is there an HOA fee for this property, and what does it cover?
This home has an HOA fee of $0.
Is 21306 E Arrow still available for sale?
Yes, this home is still available! Click the ♥ to favorite it so you don't miss any changes—or ask our local expert to schedule a time to see it in person.
Source: ez Home Search, MLS Data
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Based on information from California Regional Multiple Listing Service as of November 07, 2026 at 02:48AM All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. This information is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Last Updated: November 07, 2026 at 02:48AM | Source: California Regional Multiple Listing Service | MLS#: AR26165785
