509 E Central AVE new Save Request In-Person Tour Request Virtual Tour
Hemet,CA 92543
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRCV25151759
Year Built 1991
Lot Size 0.370 Acres
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 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 immed
Location
State CA
County Riverside
Area Srcar - Southwest Riverside County
Interior
Heating No Heating
Cooling Central AC
Laundry None
Exterior
Parking Features Garage
Garage Spaces 20.0
Pool 31,None
View None
Roof Type Shingle
Building
Water District - Public
Others
Special Listing Condition Not Applicable