
Hemet, California 92543
This Versatile Dual-Zoned Property is listed at $415,000, representing a stable and fair entry point at its $415,000 Fair Market Value. The asset features a 3-bedroom main residence complemented by a ~600 sq. ft. detached studio, holding a Fair Condition Rating with immense potential for value-add formalization. Its unique Commercial/Residential Zoning and proximity to Hemet Elementary make it a rare find for professional or multi-generational use. Featuring Mountain Views and drought-tolerant landscaping, this is an ideal acquisition for Owner-Occupants running a home business or Buy-and-Hold Investors seeking flexible-use assets.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1135 E Morton Place Subject | $429,000* List Price | 3 | 2 | 1,556 | $276 | - |
A 338 S Gilbert Sold | $425,000 | 3 | 2 | 1,604 | $265 | 0.9 mi |
B 1230 Shellie Lane Sold | $472,000 | 3 | 2 | 1,672 | $282 | 1.0 mi |
C 641 Kit Avenue Sold | $350,000 | 3 | 2 | 1,153 | $304 | 0.8 mi |
D 437 N Franklin Street Sold | $335,000 | 3 | 1 | 1,202 | $279 | 0.6 mi |
E 501 W Latham Active | $460,000 List Price | 3 | 2 | 1,300 | $354 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1954, this property shows signs of regular upkeep and some updates, but the core structure and certain features are dated. The kitchen has older cabinets and tiled countertops, although the backsplash and faucet appear more recent. The main bathroom seems more recently updated with subway tile and accessibility features. Flooring has been updated to laminate and tile in various areas. While functional and move-in ready, the property has not undergone a full, recent renovation, and many components show their age, aligning with the 'fair' condition criteria.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8276, living area = 1556.
The property is dual-zoned for both commercial and residential use, offering exceptional versatility for a home-based business, rental income, or a dedicated professional space.
A substantial ~600 sq. ft. converted studio space with a full bathroom and laundry hookups provides significant additional functional area, with potential for formalization.
The detached studio space is not fully permitted, which means the buyer may incur additional costs and effort to formalize the conversion, potentially impacting financing or future resale.
The property has seen numerous price reductions since its initial listing, which could indicate market resistance, initial overpricing, or potential underlying issues that may concern prospective buyers.
Built in 1954, the main residence is 70 years old, suggesting that key systems and components (e.g., plumbing, electrical, HVAC, roof) may be original or aging and could require future maintenance or upgrades.
Welcome to your new home or business opportunity! This versatile property is dual-zoned for both commercial and residential use, offering incredible flexibility for a variety of lifestyles and needs. The main residence features dual master bedrooms, a full kitchen, a spacious living room, and a welcoming dining area—perfect for a small family seeking a quiet neighborhood just steps from Hemet Elementary and Acacia Middle School. In addition, the property offers a detached, approximately 600 sq. ft. converted studio space. Although the conversion is not fully permitted and therefore not included in the official living area square footage, it provides exceptional versatility with built-in cabinetry, a full bathroom with shower, and hookups for a full-size washer and dryer. Many of the improvements have already been permitted, and with limited additional permitting and work, buyers may have the opportunity to formalize this space as an additional permitted room and bathroom. Outdoor features include a front yard with low-maintenance artificial turf and drought-tolerant landscaping, a backyard fully paved with concrete, and five striped parking spaces. The owner is also leaving behind a 10’x12’ storage pod with lighting, a maintenance shed, and multiple TV wall mounts. This property has a rich history, previously serving as a dental office and a law office. For commercial use, it offers a large lobby, four private offices, a kitchen, and elegant wood shutters. For residential use, it provides comfort, space, and wheelchair accessibility. No matter your plans—whether creating a family home, professional space, or exploring future possibilities—this property offers unmatched flexibility and value.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,556 | 1,387 | 67% |
| Lot Size | 8,276 | 6,534 | 81% |
| Price | $429.0K | $420.0K | 52% |
| Price per sq ft | $276 | $290 | 44% |
| Built year | 1954 | 1977 | 12% |
| HOA | $0 | $0 | 50% |
| Days on market | 205 | 181 | 71% |
Apr 15, 2026
$429,000
$415,000
+3% Price Increase
Initial Listing
Feb 5, 2026
$415,000
$419,999
-1% Price Drop
Initial Listing
Jan 8, 2026
$419,999
$409,000
+3% Price Increase
Initial Listing
Dec 29, 2025
$409,000
$410,000
+0% Price Increase
Initial Listing
Dec 27, 2025
$410,000
$412,500
-1% Price Drop
Initial Listing
Dec 18, 2025
$412,500
$415,000
-1% Price Drop
Initial Listing
Dec 15, 2025
$415,000
$419,000
-1% Price Drop
Initial Listing
Dec 1, 2025
$419,000
$427,000
-2% Price Drop
Initial Listing
Nov 26, 2025
$427,000
$428,000
+0% Price Increase
Initial Listing
Nov 24, 2025
$428,000
$429,000
+0% Price Increase
Initial Listing
Nov 6, 2025
$429,000
$435,000
-1% Price Drop
Initial Listing
Oct 22, 2025
$435,000
$439,000
-1% Price Drop
Initial Listing
Oct 15, 2025
$439,000
$449,000
-2% Price Drop
Initial Listing
Oct 12, 2025
$449,000
$455,000
-1% Price Drop
Initial Listing
Sep 29, 2025
$455,000
Initial Listing