NOT LISTED FOR SALE

490 Michigan Ave Beaumont, CA 92223

2 Beds
4 Baths
3,648 Sq Ft
0.32 Acres

Last Sold March 31, 2016

Last sale price $438,000 $120 Per Sq Ft

144 Days on Market

Highlights

  • 0.32 Acre Lot
  • Evaporated cooling system
  • Wall Furnace
  • Property is near public transit
  • Paved or Partially Paved Lot
  • Back Yard

About This Home

As of March 2016

7 Units in a well maintained, quality property in Beaumont. There are 5 one bedrooms and 2 studios. Units are always rented and produce excellent income. This is a great buy for investment with immediate cash flow. Best income producing property available in the area. Buyer to verify and satisfy themselves with regard to all, including condition, age, square footage, permits, location, etc. DO NOT WALK PROPERTY OR CONTACT OCCUPANTS. Drive by only.

Last Agent to Sell the Property

Phil Davis

OC Homes Realty License #01870791 Listed on: 09/22/2015

Last Buyer's Agent

Ernesto Sandoval

Real Estate eBroker Inc. License #01267124

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1952

Lot Details

  • 0.32 Acre Lot
  • Two or More Common Walls
  • Paved or Partially Paved Lot
  • Level Lot
  • Back Yard

Parking

  • 7 Parking Spaces

Home Design

  • 3,648 Sq Ft Home
  • Property Attached
  • Composition Roof

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 4 Bathrooms

Utilities

  • Evaporated cooling system
  • Wall Furnace

Additional Features

  • Exterior Lighting
  • Property is near public transit

Listing and Financial Details

  • Tax Lot 6
  • Assessor Parcel Number 418160001

Community Details

Overview

  • 7 Units

Building Details

  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $4,980
  • Insurance Expense $1,200
  • Maintenance Expense $1,200
  • Other Expense $2,954
  • Trash Expense $1,128
  • Water Sewer Expense $3,240
  • Gross Income $5,190
  • Net Operating Income $45,490

Property Details

Home Type

Multi-Family

Year Built

Built in 1952

Lot Details

0

Listing Details

  • CapRate: 10.25
  • Property Attached: Yes
  • Water Sewer Expenses: 3240.00
  • Property Condition: Termite Clearance
  • Property Type: Residential Income
  • Parcel Number: 418160001
  • Year Built: 1952
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 120.07

Exterior Features

  • Pool Private: No
  • Roof: Composition

Garage/Parking

  • Total Parking Spaces: 7.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Heating Type: Wall Furnace
  • Trash Expense: 1128.00
  • Water Source: Public
  • Cooling: Evaporative Cooling
  • Cooling: Yes

Condo/Co-op/Association

  • Community Features: Street Lights

Lot Info

  • Lot Features: Back Yard, Level with Street, Lot 10000-19999 Sqft, Paved, Near Public Transit
  • Lot Size Sq Ft: 14132.00
  • Price Per Lot Square Foot: 30.99
  • Lot Size Acres: 0.3240

Multi Family

  • Electric Expense: 4980.00
  • Gross Income: 5190.00
  • Gross Multiplier: 7.11
  • Gross Scheduled Income: 62280.00
  • Insurance Expense: 1200.00
  • Lot Size Area: 14132.0000 Square Feet
  • Maintenance Expense: 1200.00
  • Net Operating Income: 45490.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 7
  • Operating Expense: 16790.00
  • Other Expense: 2954.00
  • Other Expense Description: Taxes
  • Rent Control: No
  • Total Actual Rent: 5190.00

Tax Info

  • Tax Lot: 6
  • Tax Tract Number: 0000

Range of Values:

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Average Value
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List Price
Sold Price
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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
03/31/2016 03/31/16 Sold $438,000 -1.1% $120 / Sq Ft
02/13/2016 02/13/16 Pending -- -- --
09/22/2015 09/22/15 For Sale $443,000 -- $121 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • P

    Seller's Agent in 2016

    Phil Davis

    OC Homes Realty

    (714) 267-6283

    4 in this area

    7 Total Sales

    Phil Davis
    Section Image

  • E

    Buyer's Agent in 2016

    Ernesto Sandoval

    Real Estate eBroker Inc.

See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC15208885

California Regional Multiple Listing Service (CRMLS)

APN: 418-160-001

California Riverside County Beaumont 92223

490 Michigan Ave, Beaumont, CA

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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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