338 N Hemet, Hemet, California 92544, Hemet, 92544 - bed, bath
ACTIVE$539,000
338 N Hemet, Hemet, California 92544
0Bed
0Bath
1,492Sqft
14,375Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Duplex: The property features two separate units on divided lots, offering excellent potential for rental income or an owner-occupant to live in one unit and rent out the other.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1492, other record living area = 816.
Compared to the nearby listings
Price:$539.0K vs avg $530.0K (+$9,000)60%
Size:1,492 sqft vs avg 2,040 sqft20%
Price/sqft:$361 vs avg $26080%
More Insights
Built in 1956 (69 years old).
Condition: Built in 1956, this property is nearly 70 years old and shows significant signs of age and neglect. The kitchen features extremely dated white appliances, old light wood cabinets, laminate countertops, and linoleum flooring, indicating no major renovations in many decades. Bathrooms are similarly outdated with old vanities and fixtures. Worn carpets and basic, unkempt exteriors further suggest the need for substantial repairs and rehabilitation, both cosmetically and potentially systemically. The property requires extensive updates to meet modern living standards.
Year Built
1956
Close
-
List price
$539K
Original List price
$539K
Price/Sqft
$361
HOA
-
Days on market
-
Sold On
-
MLS number
IG25255014
Home ConditionPoor
Features
Good View:
View-
About this home
Two separate units on divided lots; layout is like having two separate homes for the price of one. A perfect design for an owner occupied who wants a two bedroom house with a separate home creating income next door. The property is in a great neighborhood of the city. Property offers future potential at today’s market. If you are an investor this property if calling you.
Price History
Date
Event
Price
03/27/24
Sold
$473,000
03/20/15
Sold
$158,000
02/14/11
Sold
$82,500
Condition Rating
Poor
Built in 1956, this property is nearly 70 years old and shows significant signs of age and neglect. The kitchen features extremely dated white appliances, old light wood cabinets, laminate countertops, and linoleum flooring, indicating no major renovations in many decades. Bathrooms are similarly outdated with old vanities and fixtures. Worn carpets and basic, unkempt exteriors further suggest the need for substantial repairs and rehabilitation, both cosmetically and potentially systemically. The property requires extensive updates to meet modern living standards.
Pros & Cons
Pros
Income-Generating Duplex: The property features two separate units on divided lots, offering excellent potential for rental income or an owner-occupant to live in one unit and rent out the other.
Large Lot Size: A generous 14,375 sqft lot provides ample outdoor space, privacy, and potential for future landscaping or expansion possibilities.
Versatile Ownership Appeal: Designed to attract both owner-occupants seeking supplemental income and pure investors, broadening the potential buyer pool.
Neighborhood Quality: The listing highlights its location in a 'great neighborhood of the city,' which can enhance desirability and long-term value.
Future Growth Potential: The description explicitly mentions 'future potential at today’s market,' suggesting opportunities for appreciation or further development.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1492, other record living area = 816.
Property Age: Built in 1956, the property is nearly 70 years old, which may indicate the need for updates to major systems (plumbing, electrical, HVAC) or general cosmetic renovations.
Lack of Unit Specifics: The description does not provide detailed information on the individual units, such as bedroom/bathroom count per unit, square footage breakdown, or current condition, making it challenging to fully assess rental income potential.
Recent Price Increase: The current list price of $539,000 is a notable increase from the last recorded sale price of $473,000 in March 2024, which may require clear justification for prospective buyers.