NOT LISTED FOR SALE

645 American Ave Beaumont, CA 92223

2 Beds
1 Bath
2,754 Sq Ft
8,712 Sq Ft Lot

Last Sold February 26, 2021

Last sale price $575,000 $209 Per Sq Ft

91 Days on Market

Highlights

  • Cooling System Mounted To A Wall/Window
  • Laundry Room
  • Wall Furnace

About This Home

As of February 2021

*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.

Last Agent to Sell the Property

Albert Le

LE INVESTMENT GROUP License #01468313 Listed on: 11/03/2020

Last Buyer's Agent

EVELYN PAGANO

ACTION REAL ESTATE & DEVELOP License #01457566

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1970

Lot Details

  • 8,712 Sq Ft Lot
  • Two or More Common Walls
  • Density is 2-5 Units/Acre

Home Design

  • 2,754 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Parking

  • 2 Open Parking Spaces
  • 5 Parking Spaces
  • 3 Carport Spaces
  • Parking Available
  • Paved Parking

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Conventional Septic

Additional Features

  • Laundry Room
  • Suburban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 6 / 3
  • Assessor Parcel Number 419232019

Community Details

Building Details

  • Rent Control
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $270
  • Fuel Expense $180
  • Gardener Expense $900
  • Insurance Expense $750
  • Maintenance Expense $1,389
  • Other Expense $175
  • Pest Control $300
  • Trash Expense $444
  • Water Sewer Expense $720
  • New Taxes Expense $8,010
  • Operating Expense $13,438
  • Gross Income $46,800
  • Net Operating Income $32,858

Additional Features

  • 3 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1970

Lot Details

0

Listing Details

  • CapRate: 5.48
  • Property Attached: Yes
  • Water Sewer Expenses: 720.00
  • Zoning: C2
  • Property Type: Residential Income
  • Gardener Expense: 900.00
  • Parcel Number: 419232019
  • Year Built: 1970
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: One
  • Price Per Square Foot: 208.79

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 3.00
  • Parking: Yes
  • Parking Features: Carport, Covered, Concrete
  • Total Parking Spaces: 5.00
  • Uncovered Spaces: 2.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Pest Control Expense: 300.00
  • Sewer: Conventional Septic
  • Trash Expense: 444.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 8712.00
  • Lot Size Acres: 0.2000

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average2 Bed Area: 918 Square Feet
  • Electric Expense: 270.00
  • Fuel Expense: 180.00
  • Gross Income: 46800.00
  • Gross Multiplier: 12.82
  • Gross Operating Income: 46296.00
  • Gross Scheduled Income: 46800.00
  • Insurance Expense: 750.00
  • Laundry Income: 900.00
  • Lot Size Area: 0.2000 Acres
  • Maintenance Expense: 1389.00
  • Net Operating Income: 32858.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 3
  • Operating Expense: 13438.00
  • Other Expense: 175.00
  • Other Expense Description: Septic
  • Rent Control: Yes
  • Total Expenses: 13438.00
  • Vacancy Allowance: 1404

Tax Info

  • New Taxes Expense: 8010.00
  • Tax Block: 3
  • Tax Census Tract: 438.21
  • Tax Lot: 6

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
02/26/2021 02/26/21 Sold $575,000 -4.2% $209 / Sq Ft
02/02/2021 02/02/21 Pending -- -- --
11/03/2020 11/03/20 For Sale $600,000 +64.4% $218 / Sq Ft
11/29/2017 11/29/17 Sold $364,900 0.0% $132 / Sq Ft
10/04/2017 10/04/17 For Sale $364,900 -- $132 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Albert Le

    Seller's Agent in 2021

    Albert Le

    LE INVESTMENT GROUP

    (909) 256-7889

    3 in this area

    25 Total Sales

    Albert Le
    Section Image
  • EVELYN PAGANO

    Buyer's Agent in 2021

    EVELYN PAGANO

    ACTION REAL ESTATE & DEVELOP

    (951) 203-6561

    2 in this area

    8 Total Sales

    EVELYN PAGANO
    Section Image

  • R

    Seller's Agent in 2017

    Roy Karimpour

    KR HOMES INC

    (951) 271-3640

    20 Total Sales

    Roy Karimpour
    Section Image
  • Jill Huntsinger

    Buyer's Agent in 2017

    Jill Huntsinger

    CAPITIS REAL ESTATE

    (951) 202-4449

    5 in this area

    52 Total Sales

    Jill Huntsinger
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: IV20231883

California Regional Multiple Listing Service (CRMLS)

APN: 419-232-019

California Riverside County Beaumont 92223

645 American Ave, Beaumont, CA

This home is located at 645 American Ave, Beaumont, CA 92223 since 03 November 2020. This property was built in 1970. 645 American Ave is a home located in Riverside County with nearby schools including Sundance Elementary School, San Gorgonio Middle School, and Beaumont Senior High School.

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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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