845 East 6th Street
Active Under Contract
Active Under Contract
Description
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...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.
- Listed by Kevin Struve • DRE #01266441 • Brokerage DRE #00530854 • MARCUS & MILLICHAP • kevin.struve@marcusmillichap.com
Property Details for 845 East 6th Street
Property Details for 845 East 6th Street
| Status | Active Under Contract |
|---|---|
| MLS # | CV24181611 |
| Days on Market | 116 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1955 |
| County | Riverside County |
Building Information for 845 East 6th Street
Property Information for 845 East 6th Street
- Tenant Pays: Cable TV, Telephone
- Gross Income: $238,656
- Gross Scheduled Income: $238,656
- Net Operating Income: $133,942
- Gross Multiplier: 9.2
- Cap Rate: 6.1
- Operating Expense: $98,154
- New Taxes Expense: $29,250
- Gardener Expense: $2,400
- Fuel Expense: $13,030
- Licenses Expense: $700
- Pest Control Expense: $900
- Electric Expense: $16,032
- Insurance Expense: $3,958
- Maintenance Expense: $8,000
- Professional Management Expense: $8,400
- Other Expense: $4,000
- Trash Expense: $4,243
- Water Sewer Expense: $7,241
- Total Expenses: $99,483
- Tax Block: 95
- Tax Tract Number: 440
- Tax Census Tract: 440.00
- CFD/Mello-Roos Fee: $82
- Tax Lot: 6
- Community Features: Street Lights
- Laundry: No
- Laundry Features: None
- Fireplace Features: None
- Fireplace Rooms: None
- Cooling: Wall/Window Unit(s)
- Heating Type: Wall
- Heating: Wall Furnace
- Entry Location: 1
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Lot Features: 16-20 Units/Acre
- Number Of Units: 16
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Sewer: Public Sewer
- Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
- Electric: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
- Garage Spaces: 0
- Uncovered Spaces: 16
- Open Other Spaces Total: 16
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Builders Tract Name: Other
- Builders Tract Code: Other (OTHR)
- Unit Type Units Total: 6
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $7,630
- Unit Type Total Rent: $7,630
- Unit Type Pro Forma: 8370
- Unit Type Type: 1
- Unit Type Units Total: 8
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $9,163
- Unit Type Total Rent: $9,163
- Unit Type Pro Forma: 10360
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $1,495
- Unit Type Total Rent: $1,695
- Unit Type Pro Forma: 1695
- Unit Type Type: 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $1,600
- Unit Type Total Rent: $1,795
- Unit Type Pro Forma: 1795
- Unit Type Type: 4
- Rent Controlled: No
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 1
- Number Of Separate Gas Meters: 1
- Number Of Separate Water Meters: 1
Property History for 845 East 6th Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 845 East 6th Street
Schools near 845 East 6th Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | K to 12 |
Rating | School | Distance |
|---|---|---|
Palm Innovation Academy PublicK to 5 | ||
San Gorgonio Middle School Public6 to 8 | ||
Beaumont Senior High School Public9 to 12 | ||
21st Century Learning Institute PublicK to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of MARCUS & MILLICHAP, Kevin Struve, DRE #01266441
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.