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44083 Palm Avenue, Hemet, California 92544, Hemet, 92544 - bed, bath

44083 Palm Avenue, Hemet, California 92544 home-pic-0
ACTIVE UNDER CONTRACT$879,000
44083 Palm Avenue, Hemet, California 92544
0Bed
0Bath
3,018Sqft
23,522Lot
Year Built
1955
Close
-
List price
$879K
Original List price
$879K
Price/Sqft
$291
HOA
-
Days on market
-
Sold On
-
MLS number
OC25257310
Home ConditionExcellent
Features
View-

About this home

Fairly Priced:The estimated price is in line with the list price. We found 4 Cons,6 Pros. Rank: price - $879.0K(98th), sqft - 3018(95th), beds - undefined(1th), baths - undefined(1th).

Investors: 5.21 cap rate! ***Outstanding investment opportunity*** Three recently professionally upgraded single family homes on two large lots--over 3/4 of an acre in all. Houses at 44083 and 44085 Palm Avenue are on a lot with 23,522 square feet (.54 acre). 44087 is on a lot with 11,761 square feet. All three currently occupied at below market rates, month-to-month leases. Long-term tenants. Quiet residential neighborhood, close to schools and shopping. All three stand alone houses have new flooring and paint throughout, upgraded kitchens and bathrooms, fenced back yards, inside laundry hookups, AC and fireplace. Three separate gas, electricity and water meters. ***Excellent cash flow***. Seller financing possible.

Price History

Date
Event
Price
11/10/25
Listing
$879,000
Condition Rating
Excellent
Despite being built in 1955, the property has undergone recent professional upgrades, including new flooring, fresh paint, and extensively renovated kitchens and bathrooms. The kitchens feature modern white shaker cabinets, dark countertops, and black appliances, while the bathrooms have updated vanities, fixtures, and tile. The interiors appear virtually new and are move-in ready, aligning with the 'extensively renovated within 5 years' and 'all components are new or virtually new' criteria for an excellent rating.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 23522, living area = 3018.
Strong Investment Metrics: The property boasts a 5.21% cap rate and is advertised for excellent cash flow, making it a highly attractive opportunity for investors seeking immediate returns.
Multiple Income-Generating Units: Comprising three professionally upgraded single-family homes, this property offers diversified rental income streams and reduced vacancy risk compared to a single unit.
Recent Professional Upgrades: All three homes have been recently upgraded with new flooring, paint, upgraded kitchens and bathrooms, AC, and fenced backyards, minimizing immediate capital expenditure for a new owner.
Separate Utilities: Each of the three homes has separate gas, electricity, and water meters, simplifying tenant billing and reducing landlord overhead and management responsibilities.
Large Lot Size & Desirable Location: Situated on over 3/4 of an acre across two lots in a quiet residential neighborhood, the property benefits from proximity to schools and shopping, enhancing its long-term appeal and potential for appreciation.

Cons

MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 3018, other record living area = 1189.
Below Market Rents & Month-to-Month Leases: Current tenants are on month-to-month leases at below market rates, which, while offering an opportunity for rent increases, also introduces potential for tenant turnover and requires active management to optimize income.
Listed Above Estimated Value: The property's listing price is approximately 7% above its estimated market value, which could indicate an aggressive pricing strategy and potentially limit buyer interest or negotiation flexibility.
Active Under Contract Status: The property is currently 'Active Under Contract,' meaning it is not immediately available for purchase, which may deter buyers looking for an immediate acquisition opportunity.

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