1990's Construction - 8% CAP Rate | 8.29 GRM 509 E Central Ave Immeuble residentiel 8 lots 1 510 289 € (188 786 €/Lot) Taux de capitalisation 8,05 % Hemet, CA 92543

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.