509 E Central Avenue

Hemet, CA 92543

  • 0 Bed(s)
  • 0 Bath(s)
  • 8,643 Sqft
  • 16117
    Sqft(Lot)
$1,725,000

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 garage—a 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)

  • Property Type

    Residential Income

  • County

    Riverside

  • Style

    Residential Income

  • AD ID

    50363848

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Property Details

  • Water/Sewer

    • Water Source : Public
    • Sewer : Public Sewer

    Interior Features

    • Roof : Shingle
    • Fireplace: None

    Cooling Features

    • Central Air
    • Air Conditioning

    Heating Source

    • None
    • Has Heating

    Fireplace

    • Fireplace Features: None
    • Has Fireplace: 0

  • Building Information

    • Year Built: 1991
    • Building Area Total: 8,643
    • Roof: Shingle

    Security Features

    • Security Gate

    Pool Features

    • None

    Laundry Features

    • None

    Fencing

    • Block,Wrought Iron

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.37
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 16117

  • Listing Price Information

    • Original List Price: 1,725,000
    • Listing Contract Date: 2025-07-07

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 446091031

  • Garage and Parking

    • Garage Description: Garage

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable
    • Tenant Pays: Electricity,Gas

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: SRCAR - Southwest Riverside County
    • Postal Code Plus 4: 6080
    • Directions: South of Florida Ave. West of Santa Fe St.
    • Zoning: R3
    • Source Property Type: Residential Income
    • Area: SRCAR - Southwest Riverside County
    • Property SubType: Apartment

    Building and Construction

    • Property Age: 34
    • Common Walls: 2+ Common Walls
    • Structure Type: Apartment
    • Year Built Source: Assessor
    • Entry Level: 1
    • Entry Location: 1
    • Property Attached: Yes
    • Levels or Stories: Two
    • Building Total Stories: 2
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BuyOwner last updated this listing 07/21/2025 @ 02:51

  • MLS: CV25151759
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 0 bedrooms which is for sale, it has 8,643 sqft, 16,117 sized lot, and 16 parking. are nearby neighborhoods.