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559 Edgar Avenue A2-282, Beaumont, California 92223, Beaumont, 92223 - 4 bed, 1 bath

559 Edgar Avenue A2-282, Beaumont, California 92223 home-pic-0
ACTIVE$575,000
559 Edgar Avenue A2-282, Beaumont, California 92223
4Beds
1Bath
1,960Sqft
8,276Lot

Price Vs. Estimate

The estimated value ($378,320.125) is $196,679.875 (34%) lower than the list price ($575,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8276, living area = 1960.
Top Cons:
Substantial Overpricing: The listing price is significantly above the estimated property value, suggesting a potential overvaluation that may hinder marketability and buyer interest.

Compared to the nearby listings

Price:$575.0K vs avg $537.0K (+$38,000)67%
Size:1,960 sqft vs avg 2,040 sqft45%
Price/sqft:$293 vs avg $26273%

More Insights

Built in 1930 (95 years old).
Condition: Built in 1930, this property has received recent cosmetic updates like a newer roof and fresh paint, which are positive. However, the interior, particularly the kitchen, is severely outdated with old appliances, linoleum flooring, and wood paneling. There is only one bathroom for four bedrooms, and its condition is not shown but likely requires a full renovation given the property's age and overall state. Heating and cooling are handled by less efficient wall-mounted units. While livable, the property requires substantial rehabilitation to modernize the kitchen, bathroom, and other key systems and finishes to meet contemporary standards.
Year Built
1930
Close
-
List price
$575K
Original List price
$575K
Price/Sqft
$293
HOA
-
Days on market
-
Sold On
-
MLS number
IG25155610
Home ConditionPoor
Features
Good View: City Lights, Mountain(s), Valley, Trees/Woods
ViewCity Lights,Mountain(s),Valley,Trees/Woods

About this home

Great Downtown Beaumont location, zoned commercial, centrally located right off I-10, 4 bd, 1 ba Farmhouse home on a large lot, Zoned DMU, Downtown Mixed Use (this definition refers to a Zoning classification/development area that combines various functions, typically including Residential, commercial/retail, restaurants, offices etc. and sometimes civic or entertainment uses within a downtown or city center area) The home features newer roof, new paint inside and outside, high coffered ceilings, plenty of build in cabinets for storage, wall mounted AC & Wall Furnace . The property is surrounded by commercial businesses as well as residential ones. Perfect value for an investor or business owner operator. Buyers and their Agents to do their due diligence with City of Beaumont and Riverside county on zoning, permits and use to their contractual satisfaction. See CRMLS commercial listing: IG25155601

Condition Rating
Poor
Built in 1930, this property has received recent cosmetic updates like a newer roof and fresh paint, which are positive. However, the interior, particularly the kitchen, is severely outdated with old appliances, linoleum flooring, and wood paneling. There is only one bathroom for four bedrooms, and its condition is not shown but likely requires a full renovation given the property's age and overall state. Heating and cooling are handled by less efficient wall-mounted units. While livable, the property requires substantial rehabilitation to modernize the kitchen, bathroom, and other key systems and finishes to meet contemporary standards.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8276, living area = 1960.
Flexible Mixed-Use Zoning: The DMU (Downtown Mixed Use) zoning allows for diverse residential, commercial, retail, and office applications, providing exceptional versatility for investors or owner-operators.
Strategic Downtown Location: Positioned in downtown Beaumont with immediate access to I-10, ensuring high visibility, excellent accessibility, and a vibrant surrounding environment.
Recent Capital Improvements: Features a newer roof and fresh interior/exterior paint, reducing immediate maintenance needs and enhancing curb appeal.
Development Potential (Large Lot): The generous 8,276 sqft lot in a mixed-use zone offers ample space for expansion, additional parking, or creative commercial development.
Desirable Views & Architectural Charm: Benefits from scenic City Lights, Mountain, Valley, and Trees/Woods views, complemented by high coffered ceilings that add unique character.

Cons

Substantial Overpricing: The listing price is significantly above the estimated property value, suggesting a potential overvaluation that may hinder marketability and buyer interest.
Inadequate Bathroom Count: A single bathroom for a 4-bedroom structure presents a functional limitation for both residential and many commercial uses, likely necessitating costly upgrades.
Extensive Due Diligence Required: The explicit need for buyers to verify zoning, permits, and use with the city and county implies potential complexities or uncertainties, adding risk and effort for prospective owners.

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