For Sale
$2,888,000

11411 Cherry AveBeaumont, CA 92223

7-Unit Rental, High ROI, Newly Renovated

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a portfolio of seven single-family rental units located at 11411 Cherry Ave, Cherry Valley, CA 92223. The property, situated on a 1.86-acre lot (APN 404-131-025), consists of four single-story buildings totaling 81,022 square feet, with 5,178 square feet of net rentable space. Built in 1961 and extensively renovated in 2023, the property boasts 100% occupancy, generating a substantial net operating income (NOI) of $210,600, representing a 7.29% cap rate. Each unit is thoughtfully designed with features including in-unit laundry hookups and central air conditioning and heating. Six of the seven units include a private one-car garage. The property is zoned R2 and offers significant potential for rental income growth. The asking price is $2,888,000, translating to $412,571.43 per unit and $35.64 per square foot. Seller financing is available. This turnkey investment is ideal for those seeking a strong return on investment in a desirable location. The current monthly rental income is $17,750, with potential for further increases. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a thriving market.

Highlights

  • Seven single-family rental units in Cherry Valley, CA.
  • 1.86-acre lot (APN 404-131-025), 5,178 sq ft net rentable space.
  • Built in 1961, extensively renovated in 2023, 100% occupancy.
  • $2,888,000 asking price, $210,600 NOI (7.29% cap rate).
  • Seller financing available.

Property Details for 11411 Cherry Ave

Property type
Residential income homes
Square Feet
81,022 SF
Year Built/Renovated
1961/2023
Buildings
4
Stories
1
Lot Size (sq. ft)
81,022 SF
Units
7

Location Insight

City
Beaumont
County
Riverside
State
California
Latitude
33.9554376
Longitude
-116.9648929
11411 Cherry Ave, Beaumont, California

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11411 Cherry Ave
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