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$ 5,895,000
Est. payment /mo
Active
1451 Michigan Avenue Beaumont, CA 92223
24,400 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 24,400 sqft
Price per Sqft $241
MLS Listing ID CROC24222526
HOA Y/N No
Year Built 1976
Lot Size 2.150 Acres
Acres 2.15
Property Sub-Type Other
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
Zoning R3
Interior
Heating None
Fireplace No
Laundry Other
Exterior
Utilities Available Other Water/Sewer
View Y/N true
View Mountain(s)
Building
Water Public, Other
New Construction No
Others
Tax ID 404260002
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Listed by Brett Bayless • Brett Bayless, Broker