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1451 Michigan Avenue

Beaumont, CA 92223
  • $5,895,000
  • STATUS: Active
  • ON SITE: 173 Days
  • MLS #: OC24222526
UPDATED: 67 min ago
$5,895,000
  • 0
    BEDS
  • 2.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Na
Type:
Multi-Family
Built:
1976
County:

School Ratings & Info

Listing Agent(s): Brett Bayless of Brett Bayless, Broker (949-887-2465)


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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2025-04-20T12:27:26.28. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
www.theziagroup.com/homes/157253945
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1451 Michigan Avenue Beaumont, CA 92223

  • Price: $5,895,000
  • Status: Active
  • On Site: 173 Days
  • Updated: 67 min ago
  • MLS #: OC24222526
0
Beds
0
Baths
0
½ Baths
2.15
Acres
1976
Built
Neighborhood:
Na
County:
Riverside
Area:
263 - Banning/Beaumont/Cherry Valley
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.
Exterior Features

Entry Level 1 Entry Location front Lot Features 11-15 Units/Acre Number Of Separate Electric Meters 34 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN No Spa Features None Spa YN No View Mountain(s) View YN Yes

Interior Features

Common Walls No Common Walls Heating None Heating YN No

Property Features

Additional Parcels YN No Cap Rate 4.64 Common Interest Community Apartment Community Features Suburban Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 541524 Gross Scheduled Income 541524 Insurance Expense 51282 Land Lease YN No Laundry Features Common Area Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash to New Loan Net Operating Income 273601 New Construction YN No New Taxes Expense 78417 Number Of Separate Gas Meters 34 Number Of Separate Water Meters 1 Operating Expense 250854 Other Expense 33932 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Unknown Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance 12516 Water Sewer Expense 0 Water Source Public Zoning R3



Based on information from California Regional Multiple Listing Service, Inc. as of 2025-04-20T12:27:26.28. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
 
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The Zia Group | eXp Realty
10 E Yanonali St #11
Santa Barbara CA, 93101
Listing Agent(s): Brett Bayless of Brett Bayless, Broker (949-887-2465)