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845 E 6th ST Beaumont, CA 92223
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Key Details
Sold Price $2,150,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision Mt Jacinto
MLS Listing ID CV24181611
Year Built 1955
Lot Size 0.640 Acres
Property Sub-Type Apartment
Property Description
The 6th Street apartments is a 16-unit multi-family property located at 845 E. 6th Street in Beaumont, California.
Situated on a spacious ±0.64-acre corner lot, this property features mostly single-story units and a pitched
composition roof. Built in 1937 / 1955, the building has 8 studio units, 6 one-bedroom units, and two 2-bedroom units.
Over the past 3 years, 11 of the 16 units are updated with new flooring and paint. The property is master metered for electric and gas,
with the owner additionally responsible for water / sewer, and trash. An astute investor has the opportunity
to enhance cash flow by installing sub-meters for electricity. This investment offers solid returns and significant value-add potential in a growing market.
Seller Financing Available at 6% Interest Only for 3 Year. In place cap rate of 6.1% and 9.2 GRM.
Location
State CA
County Riverside
Area 263 - Banning/Beaumont/Cherry Valley
Zoning C2
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplaces Type None
Laundry None
Exterior
Pool None
Community Features Street Lights
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Building
Lot Description 16-20 Units/Acre
Story 2
Sewer Public Sewer
New Construction No
Others
Acceptable Financing Owner May Carry
Listing Terms Owner May Carry
Special Listing Condition Standard
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Bought with Tony Regazzi • Keller Williams Rlty Whittier