NOT LISTED FOR SALE

1215 E 8th St Beaumont, CA 92223

8 Beds
6 Baths
4,066 Sq Ft
0.4 Acres

Last Sold March 08, 2023

Last sale price $985,000 $242 Per Sq Ft

190 Days on Market

Highlights

  • 0.4 Acre Lot
  • Private Yard
  • Evaporated cooling system
  • End Unit
  • No HOA
  • Laundry Room

About This Home

As of March 2023

8% CURRENT CAP RATE! Still room for higher proforma rents with this 6 unit property consists of 2 homes, 4 plex and a 7 car garage (approx 1550 sqft)! Easy access from the 10 frwy at Pennsylvania. Only a few mins from Highland Springs and all the shopping that Beaumont has to offer. All units were fumigated in March 2022. Each space is rented out month to month (no section 8, all market rent) and current except 1 front house is vacant (can put in market renters)! one of the front houses has new flooring, new paint, new roof new bathroom and updated interior. Property has been maintained over the years with capital improvements spanning the last 15-20 years. Three interior units recently renovated, property recently tented/fumigated, and one roof replaced (front house). Three units have washer/dryer hookups and three units only have washer hookups (but can easily be converted to include dryers), There is an outside coin-op dryer available to those units. All units have their owner gas water heaters. Owner pays water, sewer and trash dumpster (can increase cash flow by converting to individual trash bins instead). Great potential. (Buyer to verify sqft, county/city records, zoning allowed uses, etc - this is located in the City of Beaumont).

Last Agent to Sell the Property

Debbie Hanna

DEBRA HANNA BROKER License #01473392 Listed on: 08/01/2022

Last Buyer's Agent

KEVIN TALAB

Smart Group Housing & Finance License #01132687

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1956

Lot Details

  • 0.4 Acre Lot
  • End Unit
  • Two or More Common Walls
  • Private Yard
  • Front Yard
  • Land Lease

Parking

  • 7 Car Garage

Home Design

  • Apartment

Interior Spaces

  • 4,066 Sq Ft Home
  • 1-Story Property
  • Tile Flooring
  • Gas Range

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 6 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Outdoor Features

  • Exterior Lighting

Utilities

  • Evaporated cooling system
  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Natural Gas Connected
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for electricity, gas, telephone
  • Legal Lot and Block 1 / 61
  • Assessor Parcel Number 418020003
  • $74 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 4 Buildings
  • 6 Units

Building Details

  • 6 Leased Units
  • 7 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,200
  • Insurance Expense $2,808
  • Other Expense $2,833
  • Trash Expense $3,539
  • Water Sewer Expense $4,133
  • Operating Expense $14,513
  • Gross Income $98,064
  • Net Operating Income $83,551

Property Details

Home Type

Multi-Family

Year Built

Built in 1956

Lot Details

0

Parking

7

Listing Details

  • Assessments: Yes
  • CapRate: 8.00
  • Price Per Unit: 183167
  • Property Attached: Yes
  • Water Sewer Expenses: 4133.00
  • Zoning: R3
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 418020003
  • Year Built: 1956
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 1
  • Common Walls: 2+ Common Walls, End Unit
  • Flooring: Tile
  • Appliances: Yes
  • Levels: One
  • Price Per Square Foot: 242.25
  • Room Type: All Bedrooms Down

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 7.00
  • Total Parking Spaces: 7.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Range, Gas Water Heater, Water Heater
  • Heating Type: Wall Furnace
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Trash Expense: 3539.00
  • Water Source: Public
  • Cooling: Evaporative Cooling, Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Storm Drains, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: Yes
  • Lot Features: Front Yard, Lot 10000-19999 Sqft, Yard
  • Lot Size Sq Ft: 17424.00
  • Lot Size Acres: 0.4000

Rental Info

  • Tenant Pays: Electricity, Gas, Telephone

Multi Family

  • Gross Income: 98064.00
  • Gross Multiplier: 11.94
  • Gross Operating Income: 98064.00
  • Gross Scheduled Income: 98064.00
  • Insurance Expense: 2808.00
  • Lot Size Area: 17424.0000 Square Feet
  • Net Operating Income: 83551.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Operating Expense: 14513.00
  • Other Expense: 2833.00
  • Other Expense Description: ownertax
  • Rent Control: No
  • Total Actual Rent: 8172.00
  • Total Expenses: 14513.00

Tax Info

  • Tax Block: 61
  • Tax Census Tract: 438.21
  • Tax Lot: 1
  • TaxOtherAnnualAssessmentAmount: 74.00

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/08/2023 03/08/23 Sold $985,000 -10.4% $242 / Sq Ft
11/17/2022 11/17/22 Price Changed $1,099,000 -4.4% $270 / Sq Ft
11/01/2022 11/01/22 Price Changed $1,149,000 -0.1% $283 / Sq Ft
08/01/2022 08/01/22 For Sale $1,150,000 -- $283 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Debbie Hanna

    Seller's Agent in 2023

    Debbie Hanna

    DEBRA HANNA BROKER

    (909) 528-2512

    2 in this area

    29 Total Sales

    Debbie Hanna
    Section Image

  • K

    Buyer's Agent in 2023

    KEVIN TALAB

    Smart Group Housing & Finance

    (818) 842-5552

    1 in this area

    5 Total Sales

    KEVIN TALAB
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: EV22168137

California Regional Multiple Listing Service (CRMLS)

APN: 418-020-003

California Riverside County Beaumont 92223

1215 E 8th St, Beaumont, CA

This home is located at 1215 E 8th St, Beaumont, CA 92223 since 01 August 2022. This property was built in 1956. 1215 E 8th St is a home located in Riverside County with nearby schools including Anna Hause Elementary School, San Gorgonio Middle School, and Beaumont Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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