Property Details
About this Property
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
MLS Listing Information
MLS #
CRCV25151759
MLS Source
California Regional MLS
Days on Site
10
Interior Features
Laundry
None
Cooling
Central Forced Air
Heating
No Heating
Exterior Features
Roof
Shingle
Parking, School, and Other Information
Garage/Parking
Garage, Garage: 16 Car(s)
HOA Fee
$0
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | – | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
509 E Central Ave is a Residential Income in Hemet, CA 92543. This – square foot property sits on a 16,117 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,725,000 and was built in 1991. This address can also be written as 509 E Central Ave, Hemet, CA 92543.
©2025 California Regional MLS. All rights reserved. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from California Regional MLS.
Presently MLSListings.com displays Active, Contingent, Pending, and Recently Sold listings. Recently Sold listings are properties which were sold within the last three years. After that period listings are no longer displayed in MLSListings.com. Pending listings are properties under contract and no longer available for sale. Contingent listings are properties where there is an accepted offer, and seller may be seeking back-up offers. Active listings are available for sale.
This listing information is up-to-date as of July 08, 2025. For the most current information, please contact Kristopher German, (626) 427-0786
