165 N Hamilton Ave - Apartments FOR SALE


Hemet, CA 92543- Outer San Jacinto
$2,000,000 USD
818-482-3666
165 N Hamilton Ave, Hemet, CA for Sale
$2,000,000 USD
Apartments - FOR SALE
1/18
null | 5.11% Cap Rate

165 N Hamilton Ave
Hemet, CA 92543
Outer San Jacinto


HIGHLIGHTS

  • Rare Opportunity to acquire a stabalized 10-unit multifamily asset
  • Strong in place cash flow
  • Approximately 23.63% rental upside
  • 6 of 10 units renovated with new flooring, countertops, stainless steel appliances, updated stoves, vanities, showers, and popcorn ceilings removed
  • Private Patios and secured covered parking
  • Value-add potential

OVERVIEW

Leola Commercial, Inc. is pleased to present 165 N. Hamilton Avenue, a well-maintained 10-unit multifamily investment property located in Hemet, California. Consisting of nine units (1+1) and one unit (2+1) this investment opportunity offers large units suitable for families and working professionals. The property features spacious units with private patios and secured covered parking, providing residents with both comfort and convenience. Several units have been recently renovated, offering investors a desirable mix of stable in-place income and future value-add potential. Ownership pride is evident throughout the asset. A savvy investor may further enhance returns by adding on-site laundry facilities and leasing existing storage areas for additional income streams. The property also benefits from excellent freeway access via State Route 79 and State Route 74. Situated on a 13,939 square-foot lot, the property offers approximately 8,180 square feet of rentable space. Current rents reflect an estimated 23.63% upside, presenting a compelling opportunity for rent growth. Hemet is a large, mostly suburban community in the San Jacinto Valley-- one hour from Palm Springs, ninety minutes from San Diego, and two hours from Los Angeles. Residents renting apartments in Hemet have ample opportunities to explore the Southern California outdoors, with thousands of square miles of forests, deserts, and mountains just a short drive away. Not to mention Diamond Valley Lake just on the south side of town. The downtown area around East Florida Avenue is known as the Harvard District, and features several locally owned shops, cafes, and bars in a walkable environment.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$155 USD /SF

# OF UNITS

10

PRICE/UNIT

$200,000

CAP RATE

5.11%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1981

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

13,939 SF

ZONING

R3

APN/PARCEL ID

442-073-014

ASK ABOUT THIS PROPERTY

Gabriel ChipeLEOLA CommercialMore Info
818-482-3666

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Gabriel ChipeLEOLA CommercialMore Info
818-482-3666

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.