Listing provided courtesy of Brett Bayless of Brett Bayless, Broker. Last updated 2024-11-25 09:11:28.000000. Listing information © 2024 Sandicor.
Asking Price: $5,895,000
1451 Michigan, Beaumont CA 92223
Community: 263 - Banning/Beaumont/Cherry Valley
This Apartment property was built in 1976 and is priced at $5,895,000. Please see the additional details below.
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.
