26401 Olive, Hemet, California 92544, Hemet, 92544 - bed, bath
ACTIVE$750,000
26401 Olive, Hemet, California 92544
0Bed
0Bath
3,600Sqft
7,841Lot
Year Built
1978
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
$208
HOA
-
Days on market
-
Sold On
-
MLS number
PW25262239
Home ConditionPoor
Features
Patio
View-
About this home
We found 4 Cons,5 Pros. Rank: price - $750.0K(60th), sqft - 3600(80th), beds - undefined(50th), baths - undefined(50th).
!!!GREAT INVESTMENT OPORTUNITY!!! Property is conviniently located near schools, churches, and highway. Take advantage of this 4plex with 3 of the 4 boasting of a private patio with storage area, top unit has its own balcony. Unit A has 2bed/1.5bath, unit B,C,D have 2bed/1bath. 4plex has central water heater and laundery facility. All four units have central AC/Heating and are individually metered for gas and electricity. There is a four vehicle carport and two uncovered spaces. Take advantage of this great oportunity for future rental increase and income producing laundry facility.
Price History
Date
Event
Price
12/03/25
Listing
$750,000
05/18/09
Sold
$170,000
06/30/05
Sold
$560,000
11/07/97
Sold
$76,000
Condition Rating
Poor
Built in 1978, this 46-year-old property shows significant age and wear, as evidenced by the exterior image with faded paint, worn shutters, and older windows. The listing explicitly notes 'Potential for Required Upgrades,' suggesting substantial rehabilitation is needed, especially for kitchens and bathrooms which are likely original or last updated 30-40+ years ago. While major structural defects are not stated, the overall condition indicates a need for considerable investment to meet modern living standards and maximize rental income.
Pros & Cons
Pros
Strong Investment Potential: Explicitly marketed as a 'GREAT INVESTMENT OPORTUNITY' with potential for 'future rental increase and income producing laundry facility', indicating clear value-add prospects.
Quadruplex Income Diversification: Comprising four units (one 2bed/1.5bath, three 2bed/1bath), the property offers diversified income streams and reduced vacancy risk compared to smaller multi-unit properties.
Individual Utility Metering & HVAC: All four units feature central AC/Heating and are individually metered for gas and electricity, significantly minimizing landlord operating costs and administrative burden.
Desirable Tenant Amenities: Three units boast private patios with storage, while the top unit has its own balcony, alongside a shared laundry facility, enhancing tenant appeal and retention.
Strategic Location: Conveniently located near schools, churches, and a highway, offering good accessibility and contributing to tenant demand.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 3600, other record living area = 3375.
Property Age: Built in 1978, the property is 46 years old, which may lead to increased maintenance costs and potential need for significant capital expenditures on major systems (e.g., roof, plumbing, electrical) in the near future.
Central Water Heater: The presence of a central water heater means the landlord is responsible for its maintenance, replacement, and potentially the cost of hot water, which can be a notable operating expense.
Potential for Required Upgrades: The emphasis on 'investment opportunity' and 'future rental increase' suggests the property may benefit from immediate cosmetic or functional upgrades to maximize rental income and tenant appeal, implying potential upfront capital expenditure beyond the purchase price.