$945,000
SOLD AUG 6, 2024

1498 E 6th St Beaumont, CA 92223

1 Bed
2 Baths
3,789 Sq Ft
0.25 Acres

Recently Sold

$249 Per Sq Ft

12% Below List Price

35 Days on Market

Highlights

  • Cooling System Mounted To A Wall/Window
  • Bike Trail
  • Wall Furnace

About This Home

As of August 2024

The 7-unit multifamily offering is located at 1498 E. 6th St. in Beaumont, California. SELLER FINANCING AVAILABLE, PLEASE CONTACT LISTING AGENT FOR FUTHER DETAILS. Situated on a 0.25 acre corner lot, the property features two buildings - an inviting two-story apartment complex and an additional structure housing four one-car garages. Built in 1948, the property offers approximately 3,789 square feet of living space. The unit mix includes 6 One Bedroom / One Bathroom units and 1 Studio, providing versatility to cater to various tenant preferences. With the current rents estimated at 24% below market rates and coupled with the upside in re-positioning the property with exterior/interior renovations, this is an ideal value add opportunity.

Last Agent to Sell the Property

Kevin Struve

MARCUS & MILLICHAP Brokerage Email: kevin.struve@marcusmillichap.com License #01266441 Listed on: 05/22/2024

Last Buyer's Agent

Prashant Sampat

Pacific Avenue Realty License #01916221

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1948

Lot Details

  • 0.25 Acre Lot
  • Two or More Common Walls
  • Density is 26-30 Units/Acre

Parking

  • 4 Open Parking Spaces
  • 4 Car Garage

Home Design

  • Apartment

Interior Spaces

  • 3,789 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 1 Bedroom
  • 2 Bathrooms

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 8 / 4
  • Tax Tract Number 43821
  • Assessor Parcel Number 419202012
  • $69 per year additional tax assessments

Community Details

Overview

  • 7 Units

Recreation

  • Bike Trail

Building Details

  • 7 Leased Units
  • 8 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $400
  • Insurance Expense $3,070
  • Maintenance Expense $5,600
  • Pest Control $465
  • Trash Expense $3,760
  • Water Sewer Expense $2,089
  • New Taxes Expense $13,125
  • Operating Expense $28,924
  • Gross Income $83,400
  • Net Operating Income $53,774

Property Details

Home Type

Multi-Family

Year Built

Built in 1948

Lot Details

0

Parking

4

Listing Details

  • CapRate: 5.00
  • Price Per Unit: 153571
  • Property Attached: Yes
  • Subdivision Name Other: SUB SEC 11 T3S R1W
  • Water Sewer Expenses: 2089.00
  • Zoning: R
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 419202012
  • Year Built: 1948
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 249.41

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: No
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 4.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: No
  • Heating Type: Wall Furnace
  • Pest Control Expense: 465.00
  • Sewer: Public Sewer
  • Trash Expense: 3760.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 26-30 Units/Acre
  • Lot Size Sq Ft: 10890.00
  • Lot Size Acres: 0.2500
  • Latitude Manual: 33.92971400

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 550 Square Feet
  • Average Studio Area: 500 Square Feet
  • Electric Expense: 400.00
  • Gross Income: 83400.00
  • Gross Scheduled Income: 83400.00
  • Insurance Expense: 3070.00
  • Lot Size Area: 10890.0000 Square Feet
  • Maintenance Expense: 5600.00
  • Net Operating Income: 53774.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 7
  • Number Of Units Total: 7
  • Operating Expense: 28924.00
  • Rent Control: No
  • Total Actual Rent: 6950.00
  • Total Expenses: 28924.00

Tax Info

  • New Taxes Expense: 13125.00
  • Tax Block: 4
  • Tax Census Tract: 438.21
  • Tax Lot: 8
  • Tax Tract Number: 043821
  • TaxOtherAnnualAssessmentAmount: 69.00

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
08/06/2024 08/06/24 Sold $945,000 -12.1% $249 / Sq Ft
05/22/2024 05/22/24 For Sale $1,075,000 -- $284 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Kevin Struve

    Seller's Agent in 2024

    Kevin Struve

    MARCUS & MILLICHAP

    (909) 456-3400

    2 in this area

    8 Total Sales

    Kevin Struve
    Section Image
  • Prashant Sampat

    Buyer's Agent in 2024

    Prashant Sampat

    Pacific Avenue Realty

    (562) 841-0227

    13 in this area

    215 Total Sales

    Prashant Sampat
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV24103763

California Regional Multiple Listing Service (CRMLS)

APN: 419-202-012

California Riverside County Beaumont 92223

1498 E 6th St, Beaumont, CA

This home is located at 1498 E 6th St, Beaumont, CA 92223 and is currently priced at $945,000, approximately $249 per square foot. This property was built in 1948. 1498 E 6th St is a home located in Riverside County with nearby schools including Sundance 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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