1195 Valencia Ave, Hemet, CA 92543

1195 Valencia Ave, Hemet, CA 92543

Hemet, CA
$640,000

Property Description

We are pleased to present 1195 Valencia Ave, Hemet, a rare completely stabilized Quadruplex centrally located in Hemet. The offering showcases an excellent Unit Mix consisting of (1) 2 Bed/2 Bath Unit and (3) 2 Bed/1 Bath units and sits on a large lot of over 9,000 SF of land. This building currently operates at a 5.40% Current CAP Rate with a Current GRM of 12.16 and, with prudent management, has upside to the tune of a 6.91% Market CAP Rate and a Market GRM of 10.19.

The building was constructed in 1977 and has been well taken care of over the years. There is currently professional management overseeing the property and its tenants and the building itself has benefitted mightily. Each unit is in excellent condition and all tenants are current on their rent obligations. In addition, there is ample parking as all (4) tenants are afforded their own Assigned Carport Space in the rear of the building. With the pandemic and Housing Affordability Crisis pushing people out of large cities looking for more spacious, affordable living, while still affording people the opportunity to work remote, Hemet is poised for continued economic boom.

 

INVESTMENT HIGHLIGHTS

  • The Building is currently a completely stabilized asset and is operating at a 5.40% CAP Rate with a Current GRM of 12.19
  • With Professional management in place, the units are in excellent condition for the Submarket
  • Each Unit has (1) Assigned Carport Parking Space
  • (1) 2 Bed/2 Bath Unit and (3) 2 Bed/ (1) Bath Units, with each unit being Separately Metered for Gas & Electricity
  • Tenants have had 100% collection history, and with current management in place, rents are poised to raise annually at the maximum rate

Property Features

  • Sale Price: $640,000
  • Year Built: 1977
  • Units: 4

Lyon Stahl Investment Real Estate

Keep In Touch