509 E Central Ave - Apartments FOR SALE


Hemet, CA 92543- Outer San Jacinto
$1,725,000 USD
626-427-0786
509 E Central Ave, Hemet, CA for Sale
$1,725,000 USD
Apartments - FOR SALE
1/7
null | 8.05% Cap Rate

509 E Central Ave
Hemet, CA 92543
Outer San Jacinto


HIGHLIGHTS

  • Unheard of GRM 8.29 & 8.05% Cap Rate
  • Comprised of (4)3-Bed/2-Bath & (4)2-Bed/2-Bath Townhome Units
  • On-Site Garage and Open-Space Parking
  • 1990's Construction with 7 Remodeled Units
  • Gated & Secured Corner-Lot Location
  • Separately Metered for Gas & Electricity

OVERVIEW

1990's construction priced at a Current 8.29 GRM and 8% CAP Rate!!! Kristopher German and Deepen Shah of The Apartment Dealer are pleased to offer for sale 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. **This property is part of a 3-property portfolio sale. Other address: 862 Oleander Street, Hemet, Ca & 1220 E. Campus Way, Hemet, Ca. Properties can be sold individually or all together.

FOR SALE DETAILS

PRICE

$1,725,000 USD

PRICE/SF

$216 USD /SF

# OF UNITS

8

PRICE/UNIT

$215,625

CAP RATE

8.05%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1990's Construction - 8% CAP Rate | 8.29 GRM

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1991

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,828 SF

ZONING

R3

APN/PARCEL ID

446-091-031

ASK ABOUT THIS PROPERTY

Kristopher GermanThe Apartment DealerMore Info
626-427-0786

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Kristopher GermanThe Apartment DealerMore Info
626-427-0786

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