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29120860
29120883

703 Allegheny, Beaumont, CA 92223

JM
CA CA 01227852
Kidder Mathews
Listed by Kidder Mathews
$11,995,000
153 days on market
Updated 28 days ago

Tuscany Villas

Details
APN 419161001
Property Type Multifamily
Sub Type Apartment Building
Square Footage 64,254
Net Rentable (SqFt) 64,254
Units 40
Cap Rate 5.70%
NOI $681,525
Occupancy 100%
Pro-Forma Cap Rate 6.30%
Pro-Forma NOI $749,155
Price per SqFt $187
Class B
Year Built 2008
Year Renovated 2008
Buildings 4
Stories 3
Acreage 2.450
Zoning Public Rec
Ground Lease No
Ownership 100% fee simple interest

Multifamily | 40 Units | $299,875/unit

Marketing description

***$855,000 Price Reduction***Constructed in 2008, The Tuscany Villas is a 40-unit apartment community that is managed on-site and offers investors desirable amenities as it was built as a condominium complex with each unit situated on its own tax assessor parcel. The property features 100% two and three bedroom townhouse units with connecting two and three car gargaes, an uncommon feature in similar sized, garden-style communities. The townhouses further distinguish themselves with vaulted ceilings enhancing natural light and offering a more spacious, modern living experience. Bordered by Mount San Gorgonio and Mount San Jacinto, Beaumont is one of the fastest-growing cities in Riverside County. This combination of location, design, and amenities ensures strong renter demand and positions the property for substantial rent and income growth as units are brought to market levels. 100% 3 & 2 bedroom townhouse units Connecting 3 & 2 car garages Built in 2008 as condominiums (individual parcels) Well managed with on-site management & excellent tenant profile Sparkling pool, spa, playground & BBQ area Priced below replacement cost at under $187 per foot Spacious units offering 3 different floor plans Average of 1,606 square foot units Central AC/heat & individual hot water heaters Large 2.45 Acre parcel 1 mile with easy access to the I-10 freeway

Investment highlights

  • 100% 3 & 2 bedroom townhouse units

  • Connecting 3 & 2 car garages

  • Built in 2008 as condominiums (individual parcels)

  • Well managed with on-site management & excellent tenant profile

  • Sparkling pool, spa, playground & BBQ area

  • Priced below replacement cost at under $187 per foot

  • Day One 5.7% Cap

  • Average of ±1,606 square foot units

  • Central AC/heat & individual hot water heaters

  • Large ±2.45 Acre parcel

  • ±1 mile with easy access to the I-10 freeway

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Listing Contacts

JM
CA CA 01227852
Kidder Mathews
Listed by Kidder Mathews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$681,525.00
$56,793.75/mo

Valuation Metrics

0
DSCR
5.68%
Cap Rate
5.68%
ROI

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Additional Information

Name
Jonathan Mitchell
License
CA 01227852
Brokerage
Kidder Mathews
Title
Senior Vice President
Brokerage Address
5 Park Plaza
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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