509 E Central Avenue, Hemet, CA 92543 - MLS#CV25151759

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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 1,725,000

Est. payment | -/mo

5 Beds

4 Baths

Save

$ 1,725,000

Est. payment | -/mo

Save

5 Beds

4 Baths

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Pending

Purchase Type For Sale

MLS Listing ID CV25151759

Bedrooms 5

Property Sub-Type Res Income 2-4 Units

Property Description

1990's construction priced at a Current 8.29 GRM and 8% CAP Rate!!! We are pleased to exclusively present this well-maintained 8-unit multifamily asset, perfectly positioned to generate immediate cash-flow and long-term value. Built in the 1990s and offered well below replacement cost at just $199 per square foot, this property presents a rare blend of newer construction, strong tenant appeal, and robust financial performance. Boasting an excellent unit mix of (4) spacious 3-Bed/2-Bath units and (4) well-designed 2-Bed/2-Bath units, this building attracts a stable tenant base seeking comfort and convenience. Each residence comes with private balconies or patios, central A/C and heat, and its own private 2-car garagea luxury not often found in multi-family assets. Investors will appreciate the recent capital improvements: 7 of the 8 units have been tastefully remodeled, featuring new dual-pane windows, fresh paint, modern flooring, and updated kitchens. The property offers private gated entry, ample onsite parking, and is set up to minimize deferred maintenance concerns. Financial highlights include a Current GRM of 8.29 and a Cap Rate of 8.05%, making this a compelling addition to any portfolio. With solid in-place income and continued rental upside, this asset offers both immediate returns and future growth potential. Don't miss the opportunity to acquire a low-maintenance, high-yield property in a desirable rental market. This property is part of a 13 unit portfolio for sale in Hemet (additional Tri-Plex see MLS#CV25148426 and Duplex units property see MLS#CV25148384)

Location

State CA

County Riverside

Zoning Assessor

Direction South of Florida Ave. West of Santa Fe St.

Interior

Cooling Central Forced Air

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Tax ID 446091031

Listed by Kristopher German RE/MAX 2000 REALTY

+1(619) 302-3010

matt@homecrave.com

San Diego, CA, 92124

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509 E Central Avenue Hemet, CA 92543