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$575,000

Est. payment - /mo

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7,405 Sqft Lot

New

381 Carmel WAY Hemet, CA 92545

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Faby Llerandi

[email protected] +1(951) 520-0260

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Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID SW25238060

HOA Y/N No

Year Built 1980

Lot Size 7,405 Sqft

Property Sub-Type Duplex

Property Description

Welcome to 381 Carmel Way, Hemet, CA 92545. A fantastic turnkey investment opportunity with excellent cash flow, long-term stability, and room for growth! Perfect for investors looking to close before year-end or complete a 1031 exchange, this well-maintained duplex delivers a solid 8% gross CAP rate with upside potential to easily reach 10%+ through rent adjustments in future or by converting one of the garages into a ADU for additional rental income. Each spacious unit offers 2 bedrooms, 2 full baths, an indoor laundry room, and a private balcony. Both come with a 2-car attached garage, while the downstairs unit enjoys direct garage access for added convenience. The upstairs tenant is a Section 8 renter, providing reliable government-backed income through June 2026, and the downstairs tenant is on a month-to-month, offering flexibility for future rent increases or owner occupancy. The property sits on a large lot with zero-scape landscaping, designed for low-maintenance upkeep and reduced costs, while maintaining a clean and attractive appearance year-round. A fully secured private gated entrance with remote access ensures privacy and peace of mind for tenants. Additional highlights include a newer roof replaced within the last 7–8 years, separate gas and electric meters for each unit to minimize expenses, and long-term anchor tenants with great payment history making this a truly a great investment. Located in a well-established West Hemet neighborhood, the property is behind the Lowe's shopping center and near the brand new warehouse, close to schools, shopping, restaurants, and parks, with easy access to major commuter routes. With strong existing income, minimal upkeep, and multiple opportunities for value add, 381 Carmel Way is an ideal choice for both seasoned investors and those starting their multifamily journey. Don't miss this rare opportunity, secure your investment today before it's gone!

Location

State CA

County Riverside

Area Srcar - Southwest Riverside County

Interior

Heating Central

Fireplace No

Laundry Inside, Laundry Room

Exterior

Parking Features Concrete, Direct Access, Driveway, Garage

Garage Spaces 4.0

Garage Description 4.0

Fence Security, Wood

Pool None

Community Features Storm Drain(s), Street Lights, Sidewalks

View Y/N Yes

View Mountain(s)

Total Parking Spaces 4

Private Pool No

Building

Lot Description Front Yard

Story 1

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 456151002

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

Special Listing Condition Standard

Lease Land No

Listed by Josephine Sharma LEGACY HOMES REALTY 951-314-4204

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Faby Llerandi

Broker Associate | License ID: 01157215

+1(951) 520-0260

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