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509 E Central Avenue

Hemet, CA 92543

– beds
– baths
– sqft
16,117 sqft lot
1991 build
– on site

1990's construction priced at a Current 8.29 GRM and 8% CAP Rate!!! We are pleased to exclusively present this well-maintained 8-unit multifamily asset, perfectly positioned to generate immediate cash-flow and long-term value. Built in the 1990s and offered well below replacement cost at just $199 per square foot, this property presents a rare blend of newer construction, strong tenant appeal, and robust financial performance. Boasting an excellent unit mix of (4) spacious 3-Bed/2-Bath units and (4) well-designed 2-Bed/2-Bath units, this building attracts a stable tenant base seeking comfort and convenience. Each residence comes with private balconies or patios, central A/C and heat, and its own private 2-car garage—a luxury not often found in multi-family assets. Investors will appreciate the recent capital improvements: 7 of the 8 units have been tastefully remodeled, featuring new dual-pane windows, fresh paint, modern flooring, and updated kitchens. The property offers private gated entry, ample onsite parking, and is set up to minimize deferred maintenance concerns. Financial highlights include a Current GRM of 8.29 and a Cap Rate of 8.05%, making this a compelling addition to any portfolio. With solid in-place income and continued rental upside, this asset offers both immediate returns and future growth potential. Don't miss the opportunity to acquire a low-maintenance, high-yield property in a desirable rental market. This property is part of a 13 unit portfolio for sale in Hemet (additional Tri-Plex see MLS#CV25148426 and Duplex units property see MLS#CV25148384)

Listed By CRMLS_CA / Kristopher German / RE/MAX 2000 REALTY / 909-645-0443

Last checked: Checking… • Last updated Jul 10, 2025 •

MLS# CV25151759 —

The Building

Year Built:

1991
Year Built Source:

Assessor
New Construction:

No
Building Area Total:

8643.00
Building Area Units:

Square Feet
Total Number Of Units:

8
# of Buildings:

1
Roof:

Shingle
Stories Total:

2
Entry Level:

1
Common Walls:

2+ Common Walls
# of Separate Gas Meters:

8
# of Separate Water Meters:

1
# of Separate Electric Meters:

8

Interior

Levels:

Two
Entry Location:

1
Fireplace:

No
Fireplace:

None
Laundry:

None

Location

Directions:

South of Florida Ave. West of Santa Fe St.
Latitude:

33.74182100
Longitude:

-116.96699800

The Property

Property Type:

Residential Income
Subtype:

Apartment
Zoning:

R3
Lot Features:

6-10 Units/Acre
Lot Size Area:

16117.0000
Lot Size Acres:

0.3700
Lot Size SqFt:

16117.00
Lot Size Source:

Assessor
View:

None
Fencing:

Block, Wrought Iron
Fence:

Yes
Security Features:

Automatic Gate
Road Frontage:

Access Road
Road Surface Type:

Paved
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Block:

091
Tax Census Tract:

434.01
Tax Tract:

031
Tax Lot:

446

The Listing

Special Listing Conditions:

Standard
Parcel Number:

446091031

Heating & Cooling

Heating:

None
Cooling:

Yes
Cooling:

Central Air

Utilities

Utilities:

Electricity Available, Natural Gas Available, Sewer Available, Water Available
Sewer:

Public Sewer
Water Source:

Public

The Community

Features:

Hiking, Sidewalks
Association:

No
Pool:

None
Senior Community:

No
Private Pool:

No
Spa Features:

None
Assessments:

No
Assessments:

None

Parking

Parking:

Yes
Parking:

Garage
Parking Spaces:

20.00
Garage Spaces:

16.00
Uncovered Spaces:

4.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
7/7/25 Jul 7, 2025	Listed / Active	CRMLS_CA	$1,725,000

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This multifamily located in Acacia Avenue, Hemet, CA 92543 is currently for sale for $1,725,000. 509 E Central Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 5 days. 509 E Central Avenue is in the Acacia Avenue neighborhood of Hemet and has a WalkScore® of 74, making it very walkable. This multifamily is in the attendance area of Whittier Elementary School, Acacia Middle School, and West Valley High School.

Listing Courtesy of: CRMLS_CA and RE/MAX 2000 REALTY. Based on information from California Regional Multiple Listing Service, Inc. as of 17:06 on Jul 12.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.