$600,000

645 American Avenue

Beaumont CA, 92223

Description

*Must be purchased with adjoining parcel. APN#: 419-232-018. MLS#: IV20231904.* Offering An Actual CAP Rate of 5.00% with a ProForma CAP Rate of 5.48%. ProForma CAP Rate is Based on Leveling Off Current Rents. Offering An Actual GRM of 13.79 with a ProForma GRM of 12.82. The Property Was Extensively Renovated. Pride Of Ownership, Absolute Turn Key, Recent Capital Improvements Exceeding $85,000+. Improvements include but are not limited to, Counter Tops, Flooring, Cabinetry, Bathroom Vanities, Wall A/C Units, New Bathroom Faucets, Bathtubs, Sinks, Toilets, Water Heaters, Lighting, Window Frames, Updated Landscaping, Paint, and Doors. Residential Financing Available (Triplex on each Parcel). Rental Comparables Illustrate a 98% Occupancy Area. The Apartment is 100% Occupied With 100% Rent Collections. The American Avenue Apartments are located at 645-655 American Ave. Beaumont, CA. 92223. This 6 unit apartment community is composed of all 2 bedroom, 1 bath units that are approximately 918 sqft. The tenants are awarded with onsite covered parking and a laundry facility. The property sits on .40 acres conveniently located north of the 10 Freeway. The property centralized location offers many advantages, convenient public transportation, close proximity to schools, shopping, and employment. Major employers in the area include San Gorgonio Memorial Hospital, Cabazon Outlets, and Morongo Casino which are within 5-10 miles from the property.

Details

MLS#IV20231883
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1970
Days On Site32

Features

SQ Feet2,754
Units3
Building(s)1

Market Activity 92223

Loading Form
Loading Form
Area Information
StateCA
CountyRiverside
CityBeaumont
Zip Code92223
Area263 - Banning/Beaumont/Cherry Valley
Listing VS Median (in 92223)
Price:
$600,000
low | high
Med:
$400,000
83.333333333333% of Average
SqFt:
2,754
low | high
Med:
2,234
68.881626724764% of Average
$ / SqFt:
$218
low | high
Med:
$179
67.81557743957% of Average
On Site:
32
low | high
Med:
61
52.459016393443% of Average
Listing Updated: December 5, 2020 12:12:17 PM PST
ALBERT LE LogoMLS Number: IV20231883
Listing Provided By:
ALBERT LE  of  LE INVESTMENT GROUP
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.