NOT LISTED FOR SALE

847 Cherry Ave Beaumont, CA 92223

8 Beds
6 Baths
47,682 Sq Ft
4.87 Acre Lot

Sale Details

Date 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

4.87 Acres

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
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $20,835 $1,632,000 $408,000 $1,224,000
2023 $20,835 $289,572 $180,009 $109,563
2022 $3,854 $283,895 $176,480 $107,415
2021 $4,512 $1,140,000 $270,000 $870,000
2020 $3,742 $275,476 $171,245 $104,231
2019 $3,684 $270,076 $167,888 $102,188
2018 $3,670 $264,782 $164,597 $100,185
2017 $3,613 $259,591 $161,370 $98,221
2016 $3,519 $254,502 $158,206 $96,296
2015 $3,461 $250,681 $155,831 $94,850
2014 $3,463 $245,773 $152,780 $92,993
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV23147232

California Regional Multiple Listing Service (CRMLS)

APN: 415-303-015

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