NOT LISTED FOR SALE

847 Cherry Ave Beaumont, CA 92223

8 Beds
6 Baths
47,682 Sq Ft
4.87 Acres

Last Sold September 26, 2023

Last sale price $13,550,000 $284 Per Sq Ft

37 Days on Market

About This Home

As of September 2023

Beaumont Property Portfolio Sale consisting of 13 Assets
Apartments, Mix-Use, SFR & Land
Outstanding Locations
Upside in Rent
Call or email us for a full Offering Memorandum

Last Agent to Sell the Property

David Covarrubias

MARCUS & MILLICHAP Listed on: 08/08/2023

Co-Listed By

Douglas McCauley

MARCUS & MILLICHAP

Last Buyer's Agent

Douglas McCauley

MARCUS & MILLICHAP

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 4.87 Acre Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • Property Attached
  • Entry on the 1st floor

Interior Spaces

  • 47,682 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 6 Bathrooms

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tax Lot 9
  • Assessor Parcel Number 415303015

Community Details

Overview

  • 20 Buildings
  • 49 Units
  • Solera Subdivision

Building Details

  • 40 Separate Electric Meters
  • 40 Separate Gas Meters
  • 10 Separate Water Meters
  • Electric Expense $5,735
  • Fuel Expense $5,735
  • Gardener Expense $4,784
  • Insurance Expense $40,131
  • Maintenance Expense $42,946
  • Other Expense $349
  • Professional Management Expense $14,400
  • Supplies Expense $699
  • Trash Expense $13,041
  • Water Sewer Expense $5,735
  • New Taxes Expense $134,467
  • Operating Expense $268,023
  • Gross Income $858,926
  • Net Operating Income $565,135

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Listing Details

  • CapRate: 5.58
  • Professional Management Expense: 14400.00
  • Property Attached: Yes
  • Subdivision Name Other: Solera (SLRA)
  • Supplies Expense: 699.00
  • Water Sewer Expenses: 5735.00
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Gardener Expense: 4784.00
  • Parcel Number: 415303015
  • Year Built: 1965
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 284.17

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Trash Expense: 13041.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 212137.20
  • Lot Size Acres: 4.8700

Multi Family

  • Electric Expense: 5735.00
  • Fuel Expense: 5735.00
  • Gross Income: 858926.00
  • Gross Operating Income: 833158.00
  • Gross Scheduled Income: 858926.00
  • Insurance Expense: 40131.00
  • Lot Size Area: 4.8700 Acres
  • Maintenance Expense: 42946.00
  • Net Operating Income: 565135.00
  • Number Of Separate Electric Meters: 40
  • Number Of Separate Gas Meters: 40
  • Number Of Separate Water Meters: 10
  • Number Of Units Total: 49
  • Operating Expense: 268023.00
  • Other Expense: 349.00
  • Other Expense Description: Alarm
  • Rent Control: No
  • Total Expenses: 268023.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 134467.00
  • Tax Lot: 9

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
09/26/2023 09/26/23 Sold $13,550,000 +33.8% $284 / Sq Ft
08/08/2023 08/08/23 For Sale $10,125,516 -- $212 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • David Covarrubias

    Seller's Agent in 2023

    David Covarrubias

    MARCUS & MILLICHAP

    (909) 456-3400

    2 in this area

    46 Total Sales

    David Covarrubias
    Section Image
  • Douglas McCauley

    Seller Co-Listing Agent in 2023

    Douglas McCauley

    MARCUS & MILLICHAP

    (909) 456-3493

    2 in this area

    44 Total Sales

    Douglas McCauley
    Section Image

  • S

    Buyer Co-Listing Agent in 2023

    Steve Bogoyevac

    Steven M. Bogoyevac, Broker

    (562) 257-1231

    1 in this area

    89 Total Sales

    Steve Bogoyevac
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV23147232

California Regional Multiple Listing Service (CRMLS)

APN: 415-303-015

California Riverside County Beaumont 92223

847 Cherry Ave, Beaumont, CA

Not Listed for Sale

MultiFamily

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

Nearby Homes