A water heater and a cover assembly for the water heater is provided. The water heater includes a mixing valve disposed in fluid communication with each of a hot water conduit and a cold water pipe, to regulate temperature of hot water received from the hot water conduit. The cold water pipe branches from a cold water conduit and extends along a longitudinal axis of the tank to connect with the mixing valve. The cover assembly is mounted on a tank of the water heater. The cover assembly includes a first cover to conceal the cold water pipe, and a second cover to conceal the mixing valve and the hot water conduit extending between the tank and the mixing valve. The second cover is removably coupled to the first cover via one or more coupling elements.