6
See all 6 photos
$1,725,000
Est. payment /mo
5 Beds
4 Baths
New
509 E Central Avenue Hemet, CA 92543
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
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.
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