Beaumont, CA 92223,1451 Michigan Avenue
Listed by Brett Bayless • Brett Bayless, Broker
Bought with NONE NONE • None MRML

$5,300,000

$5,895,000

10.1%
Est.Price: ?

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Est. payment /mo

24,400 SqFt


SOLD DATE : 05/14/2025

Key Details

Sold Price $5,300,000

Property Type Commercial

Sub Type Other

Listing Status Sold

Purchase Type For Sale

Square Footage 24,400 sqft

Price per Sqft $217

MLS Listing ID CROC24222526

Sold Date 05/14/25

HOA Y/N No

Originating Board Datashare California Regional

Year Built 1976

Lot Size 2.150 Acres

Property Sub-Type Other

Property Description

Beaumont Park is a 33-unit apartment community located in one of the fastest growing cities of Riverside County, Beaumont, CA. The well-appointed asset is situated on a large 2.15-acre lot and provides tenants the benefit of low density living with only 15.3 units per acre, single story construction, and ample parking. The asset features an ideal unit mix of (70%) 2 Bed / 2 Bath units, and (30%) 1 Bed / 1 units, and boasts high occupancy, providing investors an opportunity to enhance yield in the near term with rent increases and recovery of loss-to-lease. Within a 15-, 30-, and 60-minute commute of Beaumont Park, there are approximately 24,500, 275,500, and 1.35 million jobs, respectively. Easy access to jobs provides an increasingly robust tenant base.

Location

State CA

County Riverside

Interior

Heating None

Fireplace No

Laundry Other

Exterior

View Mountain(s)

Building

Water Public

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Bay East AOR and Contra Costa AOR
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2001 Clayton Rd, Concord, CA, 94520, USA

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