$5,300,000
SOLD MAY 14, 2025

1451 Michigan Ave Beaumont, CA 92223

3 Beds
2 Baths
24,400 Sq Ft
2.15 Acres

Recently Sold

$217 Per Sq Ft

10% Below List Price

194 Days on Market

Highlights

  • 2.15 Acre Lot
  • Laundry Room
  • 1-Story Property
  • Mountain View
  • No Heating

About This Home

As of May 2025

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.

Last Agent to Sell the Property

Brett Bayless

Brett Bayless, Broker Brokerage Phone: 949-887-2465 License #01718244 Listed on: 10/28/2024

Last Buyer's Agent

NoEmail NoEmail

None MRML License #N/A

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1976

Lot Details

  • 2.15 Acre Lot
  • No Common Walls
  • Density is 11-15 Units/Acre

Interior Spaces

  • 24,400 Sq Ft Home
  • 1-Story Property
  • Mountain Views
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Location

  • Suburban Location

Utilities

  • No Heating
  • Septic Type Unknown

Listing and Financial Details

  • Tax Tract Number 43807
  • Assessor Parcel Number 404260002
  • $133 per year additional tax assessments

Community Details

Overview

  • 8 Buildings
  • 33 Units

Amenities

  • Laundry Facilities

Building Details

  • 34 Separate Electric Meters
  • 34 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $51,282
  • Other Expense $33,932
  • Professional Management Expense $26,233
  • New Taxes Expense $78,417
  • Operating Expense $250,854
  • Gross Income $541,524
  • Net Operating Income $273,601

Property Details

Home Type

Apartment

Year Built

Built in 1976

Lot Details

0

Listing Details

  • CapRate: 4.64
  • Price Per Unit: 178636
  • Professional Management Expense: 26233.00
  • Property Attached: No
  • View: Yes
  • Zoning: R3
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 404260002
  • Year Built: 1976
  • Special Features: None

Interior Features

  • Stories: 1
  • Entry Location: front
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 217.21

Exterior Features

  • View: Mountain(s)
  • Pool Private: No
  • Spa: No

Utilities

  • Heating: No
  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Unknown
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 93654.00
  • Lot Size Acres: 2.1500

Multi Family

  • Gross Income: 541524.00
  • Gross Operating Income: 524455.00
  • Gross Scheduled Income: 541524.00
  • Insurance Expense: 51282.00
  • Laundry Income: 2455.00
  • Lot Size Area: 93654.0000 Square Feet
  • Net Operating Income: 273601.00
  • Number Of Separate Electric Meters: 34
  • Number Of Separate Gas Meters: 34
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 33
  • Operating Expense: 250854.00
  • Other Expense: 33932.00
  • Other Expense Description: Utilitie
  • Other Income1: 2892.00
  • Rent Control: No
  • Total Expenses: 250854.00
  • Vacancy Allowance: 12516

Tax Info

  • New Taxes Expense: 78417.00
  • Tax Census Tract: 438.07
  • Tax Tract Number: 043807
  • TaxOtherAnnualAssessmentAmount: 133.00

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 Change Sq Ft Price
05/14/2025 05/14/25 Sold $5,300,000 -10.1% $217 / Sq Ft
05/10/2025 05/10/25 Pending -- -- --
10/28/2024 10/28/24 For Sale $5,895,000 -- $242 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Brett Bayless

    Seller's Agent in 2025

    Brett Bayless

    Brett Bayless, Broker

    (909) 235-7888

    1 in this area

    14 Total Sales

    Section Image

  • N

    Buyer's Agent in 2025

    NoEmail NoEmail

    None MRML

    (646) 541-2551

    255 in this area

    5,760 Total Sales

    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC24222526

California Regional Multiple Listing Service (CRMLS)

APN: 404-260-002

California Riverside County Beaumont 92223

1451 Michigan Ave, Beaumont, CA

This home is located at 1451 Michigan Ave, Beaumont, CA 92223 and is currently priced at $5,300,000, approximately $217 per square foot. This property was built in 1976. 1451 Michigan Ave 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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