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$ 5,895,000
Est. payment /mo
Active
1451 Michigan AVE Beaumont, CA 92223
2.15 Acres Lot
UPDATED:
10/30/2024 12:03 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision ,Na
MLS Listing ID OC24222526
HOA Y/N No
Year Built 1976
Lot Size 2.150 Acres
Property Description
Beaumont Park is a 33-unit apartment community located in one of the fastest growing cities of Riverside County, Beaumont, CA. The well-appointed asset is situated on a large 2.15-acre lot and provides tenants the benefit of low density living with only 15.3 units per acre, single story construction, and ample parking. The asset features an ideal unit mix of (70%) 2 Bed / 2 Bath units, and (30%) 1 Bed / 1 units, and boasts high occupancy, providing investors an opportunity to enhance yield in the near term with rent increases and recovery of loss-to-lease. Within a 15-, 30-, and 60-minute commute of Beaumont Park, there are approximately 24,500, 275,500, and 1.35 million jobs, respectively. Easy access to jobs provides an increasingly robust tenant base.
Location
State CA
County Riverside
Area 263 - Banning/Beaumont/Cherry Valley
Zoning R3
Interior
Heating None
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Suburban
View Y/N Yes
View Mountain(s)
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 1
Entry Level One
Sewer Unknown
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 404260002
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
Listed by Brett Bayless • Brett Bayless, Broker • 949-887-2465