REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Kevin Struve • MARCUS & MILLICHAP
$ 2,195,000
Est. payment /mo
Pending
845 East 6th Street Beaumont, CA 92223
7,200 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Pending
Purchase Type For Sale
Square Footage 7,200 sqft
Price per Sqft $304
MLS Listing ID CV-24181611
Year Built 1955
Lot Size 0.640 Acres
Property Sub-Type Apartment
Property Description
The 6th Street apartments is a 16-unit multi-family property located at 845 E. 6th Street in Beaumont, California. Situated on a spacious ?0.64-acre corner lot, this property features mostly single-story units and a pitched composition roof. Built in 1937 / 1955, the building has 8 studio units, 6 one-bedroom units, and two 2-bedroom units. Over the past 3 years, 11 of the 16 units are updated with new flooring and paint. The property is master metered for electric and gas, with the owner additionally responsible for water / sewer, and trash. An astute investor has the opportunity to enhance cash flow by installing sub-meters for electricity. This investment offers solid returns and significant value-add potential in a growing market. Seller Financing Available at 6% Interest Only for 3 Year. In place cap rate of 6.1% and 9.2 GRM.
Location
State CA
County Riverside
Area 263 - Banning/Beaumont/Cherry Valley
Zoning C2
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplaces Type None
Laundry None
Exterior
Parking Features Gated
Pool None
Community Features Street Lights
Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected
Building
Lot Description 16-20 Units/Acre
Sewer Public Sewer