600 S Lyon, Hemet, California 92543, Hemet, 92543 - 2 bed, 2 bath
ACTIVE$290,000
600 S Lyon, Hemet, California 92543
2Beds
2Baths
1,486Sqft
4,356Lot
Price Vs. Estimate
The estimated value mostly matches the list price at $290,000.
Key pros and cons
Top Pros:
Immediate Rental Income & Stability: The property is currently tenant-occupied with Section 8, providing immediate rental income and built-in stability for investors.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1486, other record living area = 1286.
Compared to the nearby listings
Price:$290.0K vs avg $403.8K ($-113,750)18%
Size:1,486 sqft vs avg 1,414 sqft57%
Price/sqft:$195 vs avg $27713%
More Insights
Built in 1963 (62 years old).
Condition: The property was built in 1963, making it over 60 years old. While described as 'well-maintained' and featuring a brand new furnace in 2024, the visible interior elements, particularly the bathroom with its dated vanity, countertop, and tile flooring, along with the older style carpeting in the living area, indicate that major renovations have not occurred recently. The cooling system, relying on a swamp cooler and window-mounted A/C, is also outdated. The property is functional and appears to be maintained, but its overall style and features are significantly aged, requiring minor updates to meet current standards. This aligns with the 'Fair' criteria of being aged but maintained, with functional but outdated major components.
Year Built
1963
Close
-
List price
$290K
Original List price
$290K
Price/Sqft
$195
HOA
$130
Days on market
-
Sold On
-
MLS number
CV25257016
Home ConditionFair
Features
Good View: Panoramic
ViewPanoramic
About this home
Welcome to 600 S. Lyon Ave, a fantastic investment opportunity in a sought-after 55+ community. This well-maintained 2 bedroom, 2 bathrooms plus a bonus enclosed patio home offers 1,286 sq ft of comfortable living space and is currently tenant-occupied, providing immediate rental income, With a smart layout, low maintenance living and recent upgrades including a brand new furnace in 2024, Large swamp cooler, and window mounted A/C,. The community amenities add even more value with low HOA$130/monthly that includes key-card access to a large pool, huge enclosed hot tub, golf course, and a entertainment house. this property is an ideal choice for investors seeking steady returns or buyers looking for a tax advantaged asset. A rare chance to own in an established retirement neighborhood with built in rental stability (section 8) -DONT MISS IT!
Nearby schools
2/10
Whittier Elementary School
Public,•K-5•0.8mi
3/10
Diamond Valley Middle School
Public,•6-8•1.5mi
5/10
West Valley High School
Public,•9-12•1.8mi
1/10
Aspire Community Day
Public,•7-12•1.8mi
Condition Rating
Fair
The property was built in 1963, making it over 60 years old. While described as 'well-maintained' and featuring a brand new furnace in 2024, the visible interior elements, particularly the bathroom with its dated vanity, countertop, and tile flooring, along with the older style carpeting in the living area, indicate that major renovations have not occurred recently. The cooling system, relying on a swamp cooler and window-mounted A/C, is also outdated. The property is functional and appears to be maintained, but its overall style and features are significantly aged, requiring minor updates to meet current standards. This aligns with the 'Fair' criteria of being aged but maintained, with functional but outdated major components.
Pros & Cons
Pros
Immediate Rental Income & Stability: The property is currently tenant-occupied with Section 8, providing immediate rental income and built-in stability for investors.
Low-Cost Community Amenities: Access to a large pool, huge enclosed hot tub, golf course, and an entertainment house with a very low HOA fee of $130/monthly.
Recent Essential Upgrades: Includes a brand new furnace installed in 2024, enhancing comfort and reducing immediate maintenance concerns for a key system.
Sought-After 55+ Community: Located in an established retirement neighborhood, appealing to a specific demographic and offering a community-focused lifestyle.
Low Maintenance Living: The property is described as offering low maintenance living, which is attractive to both investors and senior residents.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1486, other record living area = 1286.
Dated Cooling System: Relies on a large swamp cooler and window-mounted A/C, which are generally less efficient and desirable than central air conditioning, especially in Hemet's climate.
Age of Property: Built in 1963, the property is over 60 years old, which may imply potential for future maintenance or renovation needs beyond the recent furnace upgrade.
Limited Buyer Pool: Being exclusively in a 55+ community restricts the potential buyer demographic, which could affect future resale value or time on market.