NOT LISTED FOR SALE

926 Edgar Ave Beaumont, CA 92223

2 Beds
1 Bath
4,500 Sq Ft
0.38 Acres

Last Sold December 17, 2024

Last sale price $1,160,000 $258 Per Sq Ft

66 Days on Market

Highlights

  • 0.38 Acre Lot
  • No Heating
  • 1-Story Property
  • Laundry Room

About This Home

As of December 2024

Highlights: Tremendous Upside with a ProForma CAP Rate of 6.71% / Current CAP Rate of 5.50% / ProForma GRM of 9.60 & Current GRM of 11.20 / Rental Comparables Illustrate a 98% Occupancy Area / 2-bedroom units in Beaumont are currently leasing at a rate of $1,750 per month / The property was constructed in 1977 & is located on a spacious 0.38-acre lot / New & improved rooftops / Charming 6-unit multifamily property / Single-story, cottage-style units / No shared walls between units / Individually metered for gas and electric / Onsite parking available at the rear of the property / Discover a unique investment opportunity in Beaumont, California, with this charming 6-unit multifamily property. Nestled on a spacious 0.38-acre lot, this well-maintained property offers a desirable blend of privacy and convenience with its single-story, cottage-style units, each featuring no shared walls. Built in 1977, each of the six units is thoughtfully designed with 2 bedrooms and 1 bathroom, providing comfortable and functional living spaces for tenants. Recent upgrades include newer roofs, ensuring low maintenance costs and added peace of mind. The property is designed for efficient management with each unit individually metered for gas and electric, and onsite parking available at the rear of the property adds convenience for tenants and guests alike.

Last Agent to Sell the Property

Albert Le

LE INVESTMENT GROUP Brokerage Phone: 909-256-7889 License #01468313 Listed on: 08/19/2024

Last Buyer's Agent

Prashant Sampat

Pacific Avenue Realty License #01916221

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1977

Lot Details

  • 0.38 Acre Lot
  • No Common Walls
  • Density is 2-5 Units/Acre

Home Design

  • Entry on the 1st floor

Interior Spaces

  • 4,500 Sq Ft Home
  • 1-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Parking

  • 6 Parking Spaces
  • 6 Carport Spaces

Additional Features

  • Suburban Location
  • No Heating

Listing and Financial Details

  • Legal Lot and Block 14 / 44
  • Tax Tract Number 2
  • Assessor Parcel Number 415262021
  • $64 per year additional tax assessments

Community Details

Overview

  • 6 Buildings
  • 6 Units

Building Details

  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $4,869
  • Trash Expense $500
  • Water Sewer Expense $600
  • New Taxes Expense $15,604
  • Operating Expense $41,696
  • Gross Income $122,400
  • Net Operating Income $78,830

Property Details

Home Type

Apartment

Year Built

Built in 1977

Lot Details

0

Listing Details

  • CapRate: 6.71
  • Property Attached: No
  • Subdivision Name Other: Unknown
  • Water Sewer Expenses: 600.00
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 415262021
  • Year Built: 1977
  • Special Features: None

Interior Features

  • Stories: 1
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 257.78

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 6.00
  • Total Parking Spaces: 6.00

Utilities

  • Heating: No
  • Laundry: Yes
  • Laundry Features: Inside
  • Sewer: Public Sewer
  • Trash Expense: 500.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 16552.80
  • Lot Size Acres: 0.3800

Multi Family

  • Gross Income: 122400.00
  • Gross Multiplier: 9.60
  • Gross Scheduled Income: 122400.00
  • Insurance Expense: 4869.00
  • Lot Size Area: 0.3800 Acres
  • Net Operating Income: 78830.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 38674.00
  • Rent Control: Yes
  • Total Expenses: 41696.00

Tax Info

  • New Taxes Expense: 15604.00
  • Tax Block: 44
  • Tax Census Tract: 439.00
  • Tax Lot: 14
  • Tax Tract Number: 002...
  • TaxOtherAnnualAssessmentAmount: 64.00

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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
12/17/2024 12/17/24 Sold $1,160,000 -1.3% $258 / Sq Ft
10/24/2024 10/24/24 Pending -- -- --
10/18/2024 10/18/24 Price Changed $1,175,000 -2.1% $261 / Sq Ft
08/19/2024 08/19/24 For Sale $1,200,000 -- $267 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

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 $2,712 $1,160,000 $410,000 $750,000
2023 $2,712 $200,131 $130,395 $69,736
2022 $2,671 $196,208 $127,839 $68,369
2021 $2,620 $192,362 $125,333 $67,029
2020 $2,593 $190,390 $124,048 $66,342
2019 $2,552 $186,658 $121,616 $65,042
2018 $2,542 $182,999 $119,232 $63,767
2017 $2,502 $179,412 $116,895 $62,517
2016 $2,437 $175,895 $114,603 $61,292
2015 $2,396 $173,255 $112,883 $60,372
2014 $2,398 $169,864 $110,673 $59,191
Source: Public Records

Agents Affiliated with this Home

  • Albert Le

    Seller's Agent in 2024

    Albert Le

    LE INVESTMENT GROUP

    (909) 256-7889

    3 in this area

    23 Total Sales

    Albert Le
    Section Image
  • Prashant Sampat

    Buyer's Agent in 2024

    Prashant Sampat

    Pacific Avenue Realty

    (562) 841-0227

    9 in this area

    216 Total Sales

    Prashant Sampat
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: IV24171885

California Regional Multiple Listing Service (CRMLS)

APN: 415-262-007

California Riverside County Beaumont 92223

926 Edgar Ave, Beaumont, CA

Not Listed for Sale

MultiFamily

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