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$2,195,000

Est. payment - /mo

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7,200 SqFt

Price Dropped by $100K

845 E 6th ST Beaumont, CA 92223

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

UPDATED:

10/31/2024 09:42 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 7,200 sqft

Price per Sqft $304

Subdivision ,Mt Jacinto

MLS Listing ID CV24181611

HOA Y/N No

Year Built 1955

Lot Size 0.640 Acres

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

Rooms

Ensuite Laundry None

Interior

Laundry Location None

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Laundry None

Exterior

Pool None

Community Features Street Lights

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Total Parking Spaces 16

Private Pool No

Building

Lot Description 16-20 Units/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 418112011

Energy Description 13030.0

Acceptable Financing Owner May Carry

Listing Terms Owner May Carry

Special Listing Condition Standard

Listed by Kevin Struve • MARCUS & MILLICHAP • kevin.struve@marcusmillichap.com

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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