207 E 5th Street, Beaumont, California 92223, Beaumont, 92223 - 4 bed, 3 bath
ACTIVE$545,000
207 E 5th Street, Beaumont, California 92223
4Beds
3Baths
1,960Sqft
13,068Lot
Price Vs. Estimate
The estimated value ($390,608.11) is $154,391.89 (28%) lower than the list price ($545,000). This property may be overpriced.
Key pros and cons
Top Pros:
Dual Homes on One Lot: The property features two separate homes on a single lot, offering versatile options for multi-generational living, primary residence with rental income, or pure investment cash flow.
Top Cons:
Age of Construction: Built in 1940, the property is likely to require significant modernization, updates, and ongoing maintenance to meet contemporary standards and buyer expectations.
Compared to the nearby listings
Price:$545.0K vs avg $537.0K (+$8,000)54%
Size:1,960 sqft vs avg 2,040 sqft45%
Price/sqft:$278 vs avg $26263%
More Insights
Built in 1940 (85 years old).
Condition: Built in 1940, this property shows significant age and a lack of modern updates. The kitchens and bathrooms in both units are very dated, with basic, worn cabinets, older appliances, and outdated fixtures, requiring substantial renovation. While some laminate flooring is present, other areas have worn carpet or linoleum. The presence of window AC units suggests an outdated HVAC system. The overall condition indicates a need for extensive rehabilitation to meet current living standards and comfort.
Year Built
1940
Close
-
List price
$545K
Original List price
$585K
Price/Sqft
$278
HOA
-
Days on market
-
Sold On
-
MLS number
IG25192672
Home ConditionPoor
Features
Good View: Hills, Mountain(s)
ViewHills, Mountain(s)
About this home
Welcome home to the fast growing city of Beaumont! 2 homes on 1 lot! Amazing potential for a primary residence or an investment property for cash flow. Each home already has separate water and gas meters. The larger home is a 3 bedroom with 2 bathrooms with approximately 1320 sf. and the smaller home is a 1 bedroom with 1 bathroom with approximately 640 sf. There is so much potential with this property because it's also zoned commercial with freeway visibility!
Condition Rating
Poor
Built in 1940, this property shows significant age and a lack of modern updates. The kitchens and bathrooms in both units are very dated, with basic, worn cabinets, older appliances, and outdated fixtures, requiring substantial renovation. While some laminate flooring is present, other areas have worn carpet or linoleum. The presence of window AC units suggests an outdated HVAC system. The overall condition indicates a need for extensive rehabilitation to meet current living standards and comfort.
Pros & Cons
Pros
Dual Homes on One Lot: The property features two separate homes on a single lot, offering versatile options for multi-generational living, primary residence with rental income, or pure investment cash flow.
Commercial Zoning & Freeway Visibility: Zoned commercial with direct freeway visibility, this property presents significant potential for business ventures, increased property value, and diverse income streams beyond residential use.
Separate Utility Meters: Each home is equipped with separate water and gas meters, simplifying tenant billing and management for investment purposes, and ensuring independent utility costs for occupants.
Investment & Cash Flow Potential: Explicitly highlighted as having 'amazing potential for a primary residence or an investment property for cash flow,' making it attractive to investors and those seeking income-generating assets.
Scenic Views: The property boasts desirable views of the surrounding hills and mountains, enhancing its aesthetic appeal and potentially contributing to a higher quality of life for residents.
Cons
Age of Construction: Built in 1940, the property is likely to require significant modernization, updates, and ongoing maintenance to meet contemporary standards and buyer expectations.
Significant Price Discrepancy: The current listing price of $545,000 is considerably higher than the estimated property value of approximately $395,357, which may indicate overpricing and could deter potential buyers or prolong market time.
Unspecified Renovation Needs: While offering 'potential,' the description lacks details on recent upgrades or the current condition of the homes, implying that substantial investment may be needed for renovations, especially given its age.