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526 Greystone Lane, Hemet, California 92543, Hemet, 92543 - bed, bath

526 Greystone Lane, Hemet, California 92543 home-pic-0
ACTIVE$898,000
526 Greystone Lane, Hemet, California 92543
0Bed
0Bath
3,000Sqft
10,454Lot
Year Built
1981
Close
-
List price
$898K
Original List price
$898K
Price/Sqft
$299
HOA
-
Days on market
-
Sold On
-
MLS number
PF25057728
Home ConditionFair
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $898.0K(86th), sqft - 3000(71th), beds - undefined(50th), baths - undefined(50th).

AN OUTSTANDING FOURPLEX OPPORTUNITY: TWO 3-BEDROOM UNITS plus TWO 2-BEDROOM units, with 7 assigned/gated parking spaces on a large 10K SqFt lot with individual fenced yards/patios. Perfect for both - a traditional investor OR for live-rent owner. All units are rented with stable tenants. Do not disturb occupants and reach out to discuss access. Located on a lovely street with properties of similar type. Amenities include individual central air, individual water/gas/electric meters, washer/dryer hookups, and fully fenced/gated access with dedicated parking (the gate is maintained by an independent contractor). There is no HOA and no monthly or annual fees. The roof was recently replaced. Same owner for 10+ years - not a flip. The property will only be shown to well qualified, serious buyers with a signed preapproval letter in place.

Condition Rating
Fair
The property was built in 1981. The listing mentions a recently replaced roof, but the images show the exterior and patios, and they appear aged. There are no interior photos to assess the kitchen and bathroom conditions, but given the age and lack of specific mention of kitchen/bath renovations, a 'fair' condition is assigned, indicating it likely requires minor updates.
Pros & Cons

Pros

Income Potential: Fourplex with a mix of two 3-bedroom and two 2-bedroom units provides a diversified income stream.
Individual Utilities: Each unit has individual central air, water, gas, and electric meters, simplifying tenant billing and reducing landlord responsibilities.
Tenant Stability: All units are currently rented with stable tenants, offering immediate cash flow for the buyer.
No HOA Fees: Absence of HOA fees reduces operating expenses and increases net operating income.
Recent Roof Replacement: The recently replaced roof minimizes immediate capital expenditure concerns.

Cons

Age of Property: Built in 1981, the property may require ongoing maintenance and potential upgrades to remain competitive.
Limited Showing Access: Access is restricted to qualified buyers with pre-approval, potentially limiting initial interest from a broader pool of investors.
Location Considerations: The specific location within Hemet should be carefully evaluated for its rental demand and potential for future appreciation.

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