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Listed by Brett Bayless • Brett Bayless, Broker
$ 5,895,000
Est. payment /mo
New
1451 Michigan Avenue Beaumont, CA 92223
24,400 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 24,400 sqft
Price per Sqft $241
MLS Listing ID OC-24222526
Year Built 1976
Lot Size 2.150 Acres
Property Sub-Type Apartment
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
Laundry Common Area
Exterior
Parking Features Gated
Pool None
Community Features Suburban
View Y/N Yes
View Mountain(s)
Building
Lot Description 11-15 Units/Acre
Sewer Unknown