6th Street Apartments

Home » All Multifamily Properties » California & West » 6th Street Apartments

Address: 845 E 6th St, Beaumont, CA 92223, USA

California & West + Apartment Buildings

Created date: August 20, 2024

Date last updated: August 20, 2024

In-Place Cap Rate of 5.78% with Potential Market Cap Rate of 6.74%
Seller Financing Available: 6% Interest Only, up to 3-Year Term
Prime Location on a Large Corner Lot: ±0.64 Acres
11 Units Recently Upgraded with New Flooring & Paint
Diverse Unit Mix: Studio, 1 Bedroom, and 2 Bedroom Units

Property Description

Marcus & Millichap Real Estate Investment Services is pleased to exclusively present the 6th Street Apartments, a 16-unit multifamily property located at 845 E. 6th Street in Beaumont, California. Set on a spacious ±0.64-acre corner lot, this property features primarily single-story units and a pitched composition roof. Built in 1937 / 1955, the building offers approximately 7,200 square feet of living space, including 8 studio units, 6 one-bedroom units, and 2 two-bedroom units. Over the past 3 years, 11 of the 16 units have been 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 and implementing RUBS (Ratio Utility Billing System). This investment offers solid returns and significant value-add potential in a growing market. For more information, please contact the listing agents. Please do not Disturb Tenants, Walk and/or Talk to anyone at the property. An Interior inspection will only take place upon an accepted offer.

Available

Request Information

Due Digilence Documents

Key Property Information

Listing Status:	Available
Property Types:	Apartment Buildings
Price:	$2,295,000
No. of Units:	16
Cap Rate:	5.78%
GRM /GIM:	9.62
Building Size:	7,200 Sq ft
Lot Size:	0.64 Acres
APN:	418-112-011
Zoning Code:	SSMU
Opportunity Zone:	No
Price per unit:	$143,438
Parking Spaces:	16
Property Website	Click Here