38682 Florence, Beaumont, California 92223, Beaumont, 92223 - 5 bed, 3 bath
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This Multi-Unit Residential Income Asset is currently listed at $623,000, which is positioned above the $444,498 Fair Market Value. While the property lacks immediate equity, it offers a High-Potential Investment Opportunity due to its Multi-Unit Zoning and Expansive 29,621 sqft Lot. With a Condition Rating of 5, the 1940s construction requires significant capital expenditure to modernize core systems. The dual-meter setup and mountain views provide a strong foundation for rental income. This property is best suited for Buy-and-Hold Investors or Experienced Developers capable of executing a comprehensive value-add strategy.
Property is extensive renovation needed.
The property was built in 1940 (84+ years old) and the listing lacks any mention of recent renovations to the kitchens, bathrooms, or core systems (HVAC/Electric). Based on the age exceeding 30 years without documented updates, it likely requires significant rehabilitation to address dated interiors and aging infrastructure.
The property features two separate houses on a large lot with multi-unit zoning, offering significant rental income potential or a flexible multi-generational living setup.
Situated on nearly three-quarters of an acre, the 29,621 sqft lot provides ample space for future expansion, ADU additions, or outdoor amenities without the restrictions of an HOA.
Both units are equipped with their own separate gas and electric meters, simplifying property management and reducing utility overhead costs for the owner.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2277, other record living area = 1213. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 3.
Built in 1940, the property may require significant updates to its core systems, such as plumbing, roofing, and electrical, to meet modern standards and buyer expectations.
While the listing highlights multi-unit zoning, potential buyers must perform extensive due diligence with the city and county to confirm specific usage rights and expansion feasibility.
Gorgeous mountain views from this rare gem! There is great income potential for investors with close to an acre and multi-unit zoning (check with city and county of Riverside for general usages). Two houses on property separated by privacy wall. Back house is ranch style with three bedrooms, one and a half baths, and lovely covered back patio overlooking mountains. Front house features 2 bedrooms, one bath, large eat-in kitchen, and huge bonus storage room. Spacious front porch is shaded by beautiful mature tree. No HOA. Both units have their own separate gas meter and electric meter.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 0.0 | 71% |
| Baths | 3.0 | 0.0 | 71% |
| Square foot | 2,277 | 2,500 | 29% |
| Lot Size | 29,621 | 10,019 | 86% |
| Price | $623.0K | $686.0K | 29% |
| Price per sq ft | $274 | $268 | 57% |
| Built year | 1940 | 1959 | 29% |
| HOA | $0 | $0 | 50% |
| Days on market | 4 | 128 | 14% |
Jun 2, 2026
$623,000
Initial Listing
Jan 19, 2022
$550,000
Public Record
Sep 15, 2009
$109,000
Public Record