677 Magnolia Ave · Beaumont, CA 92223

$2,400,000

132 bd · 144.0 ba · 7,089 sqft · MultiFamily · 281 Days on market

Built 1947 0.41 ac lot $339/sqft · 86% above area

---

Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Proud to present Magnolia Avenue Apartments, a well-maintained 12-unit multifamily investment opportunity located in the growing city of Beaumont, CA. The property consists of a desirable mix of one- and two-bedroom units, each designed for tenant comfort and long-term stability. On-site parking, spacious layouts, and convenient access to nearby retail, dining, and schools make Magnolia Avenue Apartments a sought-after rental option for local residents. Positioned in a high-growth Inland Empire submarket, the property benefits from Beaumont’s strong population growth, limited multifamily inventory, and consistently high tenant demand. Current rents remain below market, offering investors the opportunity to increase income through renovations and strategic management. Magnolia Avenue Apartments offers investors a rare opportunity to acquire a stable, cash-flowing property with significant upside potential in one of Southern California’s most dynamic rental markets.

Key facts

• 0.41 acre lot
• 15 parking spots
• Built 1947

What this means for you Summary

Snapshot

• This is a 12 × 11-bed/12.0-bath units multifamily listed at $2.40M.

Deal economics

• At list price, monthly cash flow is $16k ($197k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($42k rent vs $2.40M).
• Recommended offer: $2.11M (12.0% below list) — sets the bar for market timing.
• Cap rate 14.5% vs local median 3.5% in Beaumont — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#429 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F, cost of living F.
• Beaumont Unified (suburban): math 32% / reading 60% proficiency, ranked #168 of 517 in CA (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.9%/yr); 276 active listings in the ZIP; solid renter incomes; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• At $41,800/mo this rent would consume 488% of the median local household income ($103k/yr) (locally 1096% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $17k of loan paydown is wiped out by about $72k of value loss. Plan a longer hold.
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $672k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 281 days — a 12% lower offer ($2.11M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $2.40M implies a 2552% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,112,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 281 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.74% ✓
• Cap rate: 14.51%
• Cash-on-cash: 29.35%
• DSCR: 2.31
• GRM: 4.8

CMA / ARV

• ARV (median comp): $1,291,000
• List price: $2,400,000
• Delta: 85.90%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.85% rent growth · sell at horizon

5-year hold

• IRR: 24.8%
• Equity multiple: 2.03×
• Total profit: $694,604
• Equity at exit: $357,848

10-year hold

• IRR: 33.1%
• Equity multiple: 4.13×
• Total profit: $2,105,880
• Equity at exit: $207,508

Cash invested: $672,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 92223

• Rents YoY: 3.9%
• Active inventory: 276
• Price-to-rent: 57.4×

Monthly cashflow live

• Estimated rent: $41,800 medium
• Mortgage (P&I): −$12,586
• Tax est. 1.5%: −$3,000 /mo · $36,000/yr
• Insurance: −$1,000
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,778
• Net cashflow: $16,436

Break-even live

Break-even rent $20,995

Max offer price $2,400,000

Occupancy floor 56%

12-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 12× units	11	12	$41,796
Total (12 units)			$41,800

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $600,000
• Closing costs: $72,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $2,400,000 Active 281 DOM
2. 2026-06-17
   days on market $2,400,000 Active 280 DOM
3. 2026-06-16
   days on market $2,400,000 Active 279 DOM
4. 2026-06-15
   days on market $2,400,000 Active 278 DOM
5. 2026-06-13
   days on market $2,400,000 Active 276 DOM
6. 2026-06-13
   days on market $2,400,000 Active 275 DOM
7. 2026-06-09
   days on market $2,400,000 Active 272 DOM
8. 2026-06-08
   days on market $2,400,000 Active 271 DOM
9. 2026-06-07
   days on market $2,400,000 Active 270 DOM
10. 2026-06-04
    days on market $2,400,000 Active 267 DOM
11. 2026-06-03
    days on market $2,400,000 Active 266 DOM
12. 2026-06-02
    days on market $2,400,000 Active 265 DOM
13. 2026-06-01
    days on market $2,400,000 Active 264 DOM
14. 2026-05-31
    days on market $2,400,000 Active 263 DOM
15. 2026-01-06
    price $2,400,000 990-char remark

    Show marketing remark (990 chars)

    Proud to present Magnolia Avenue Apartments, a well-maintained 12-unit multifamily investment opportunity located in the growing city of Beaumont, CA. The property consists of a desirable mix of one- and two-bedroom units, each designed for tenant comfort and long-term stability. On-site parking, spacious layouts, and convenient access to nearby retail, dining, and schools make Magnolia Avenue Apartments a sought-after rental option for local residents. Positioned in a high-growth Inland Empire submarket, the property benefits from Beaumont’s strong population growth, limited multifamily inventory, and consistently high tenant demand. Current rents remain below market, offering investors the opportunity to increase income through renovations and strategic management. Magnolia Avenue Apartments offers investors a rare opportunity to acquire a stable, cash-flowing property with significant upside potential in one of Southern California’s most dynamic rental markets.

16. 2025-09-10
    listed $1,850,000 Active 990-char remark

    Show marketing remark (990 chars)

    Proud to present Magnolia Avenue Apartments, a well-maintained 12-unit multifamily investment opportunity located in the growing city of Beaumont, CA. The property consists of a desirable mix of one- and two-bedroom units, each designed for tenant comfort and long-term stability. On-site parking, spacious layouts, and convenient access to nearby retail, dining, and schools make Magnolia Avenue Apartments a sought-after rental option for local residents. Positioned in a high-growth Inland Empire submarket, the property benefits from Beaumont’s strong population growth, limited multifamily inventory, and consistently high tenant demand. Current rents remain below market, offering investors the opportunity to increase income through renovations and strategic management. Magnolia Avenue Apartments offers investors a rare opportunity to acquire a stable, cash-flowing property with significant upside potential in one of Southern California’s most dynamic rental markets.

17. 1981-06-01
    soldstatus $90,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 10/10 Extreme
• 🌡 Heat 6/10 Major 6 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 14 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $501,600
• − Mortgage interest: −$134,437
• − Property taxes: −$36,000
• − Insurance: −$12,000
• − Repairs & maintenance: −$40,128
• − Management: −$40,128
• − Depreciation: −$69,818
• Taxable income: $169,089
• Est. tax owed @ 24.0%: −$40,581
• After-tax cash flow: $156,652/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Beaumont Unified
• NCES district ID: 0604290
• Math proficiency: 32% ▼ -4.00%
• Reading proficiency: 60% ▲ 11.00%
• Median HH income: $60,635
• Composite: 40.37/100
• National rank: #3736
• State rank: #168 of 517 in CA

Livability — Beaumont

• Score: 64/100
• State rank: #429
• US rank: #14526

Category grades

Amenities F Commute F Cost of living F Crime A- Employment A+ Housing A+ Health & safety F User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Beaumont, CA
• County: Riverside County · 2,287,001 people
• City population: 63,833
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 63,833
• Household income: $102,761
• Rent vs Own: 19.5% rent · 80.5% own
• Severe rent burden: 1096.0

Population outlook (Riverside County) Hauer SSP2

• Today (2025): 2,664,475 people
• By 2030: 2,802,692 · +5.2%
• By 2040: 3,050,904 · +14.5%
• By 2050: 3,256,783 · +22.2%
• By 2075: 3,655,058 · +37.2%
• By 2100: 3,766,594 · +41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 45% White 37% Two or more races 16% Black 8% Asian 7% Native American 1%
• Hispanic origin (detail): Mexican 40%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 15% · Canada, China
• Languages at home: 70% English-only · Spanish 23% Tagalog/Filipino 2% Chinese 1%

Political lean MEDSL · Riverside

• 2024 margin: Toss-up / Even · D 48.0% · R 49.3% · Other 2.6%
• 2008→2024 swing: -3.6pp toward R · 2008: 2.3pp · 2024: -1.3pp
• All cycles: 2024: R+1.3 2020: D+8.0 2016: D+4.3 2012: R+0.4 2008: D+2.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -395.13%
• Current HPI: 373.4608
• Rent YoY: ▲ 3.85%
• Metro: Riverside-San Bernardino-Ontario, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+2551.9% since first listed

3 events — show timeline

• 2026-01-06 Price Changed $2,400,000 CRMLS
• 2025-09-10 Listed $1,850,000 CRMLS
• 1981-06-01 Sold (Public Records) $90,500 Public Records

Property tax history

+2.0%/yr

Latest (2025): $4,409 · +1.9% YoY. Source: county tax records.