435 N Hamilton Avenue, Hemet, California 92543, Hemet, 92543 - bed, bath
ACTIVE$849,900
435 N Hamilton Avenue, Hemet, California 92543
0Bed
0Bath
3,800Sqft
9,148Lot
Year Built
1977
Close
-
List price
$850K
Original List price
$850K
Price/Sqft
$224
HOA
-
Days on market
-
Sold On
-
MLS number
SW25063535
Home ConditionGood
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $849.9K(86th), sqft - 3800(71th), beds - undefined(50th), baths - undefined(50th).
Excellent opportunity for an investor looking for a great real estate move. Conveniently located corner apartment building with 4 units, in Hemet, is now for sale. 3 units have 2 bedrooms and 1 bathroom and 1 unit has 2 bedrooms and 2 bathrooms. Each unit has its own electrical and gas meter, private patio, storage closet and assigned parking space as well as gas stove and central a/c and heater. All units are rented at the time of this listing. Come on and check it out, you will be impressed by how clean and well kept it is.
Condition Rating
Good
While built in 1977, the property appears to have undergone significant cosmetic renovations within the last 5-15 years. The kitchens feature modern cabinetry, dark countertops, stainless steel appliances (including gas ranges and microwaves), and recessed lighting. Bathrooms are updated with modern vanities, light fixtures, and tiled shower surrounds. Throughout the units, there is consistent laminate wood-look flooring and fresh, neutral paint. The description also notes central A/C and heating. The property is described as 'clean and well kept,' indicating good maintenance. However, the underlying structure and major systems are nearly 50 years old, which, despite visible updates, prevents an 'Excellent' rating without confirmation of recent full system overhauls. It is move-in ready with no immediate renovation required for the visible areas.
Pros & Cons
Pros
Immediate Income Stream: All four units are currently rented, providing instant cash flow and eliminating initial vacancy risk for the investor.
Individual Utility Metering: Each unit features its own electrical and gas meter, reducing landlord utility expenses and administrative burden.
Desirable Tenant Amenities: Units include private patios, storage closets, assigned parking, gas stoves, and central A/C and heating, enhancing tenant satisfaction and retention.
Well-Maintained Condition: The property is described as 'clean and well kept,' suggesting good upkeep and potentially lower immediate repair costs.
Multi-Unit Investment: As a quadruplex, the property offers diversified income streams and a strong entry point for real estate investors.
Cons
Property Age: Built in 1977, the property is nearly 50 years old, which may lead to higher maintenance costs or future capital expenditures on major systems like roofing, plumbing, or electrical.
Hemet Market Dynamics: While an investment opportunity, Hemet's market may offer more modest appreciation potential compared to other Southern California submarkets.
Predominant Unit Configuration: Three out of four units are 2-bedroom, 1-bathroom, which might limit the diversity of the tenant pool or rent potential compared to properties with more varied or larger unit types.