1451 Michigan Avenue
Beaumont, CA, 92223
$5,895,000
Beds
0 Baths
SqFt
2.15 Acres
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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.

Property Details

Price:
$5,895,000
MLS #:
OC24222526
Status:
Active
Baths:
0
Address:
1451 Michigan Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
263banningbeaumontcherryvalley
City:
Beaumont
Listed Date:
Oct 27, 2024
State:
CA
ZIP:
92223
Lot Size:
93,654 sqft / 2.15 acres (approx)
Year Built:
1976
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Community Features
Suburban
Garage Spaces
0.00
Lot Features
11-15 Units/ Acre
Parking Spots
0.00
Pool Features
None
Sewer
Unknown
Spa Features
None
Stories Total
1
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1451 Michigan Avenue
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