$5,895,000
1451 Michigan Avenue Beaumont, CA 92223
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Listed by Brett Bayless • Brett Bayless, Broker
$5,895,000
Est. payment /mo
24,400 SqFt
UPDATED:
10/29/2024 04:50 AM
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
Originating Board Datashare California Regional
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
Interior
Heating None
Fireplace No
Laundry Other
Exterior
View Mountain(s)
Building
Water Public
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