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$ 575,000
Est. payment /mo
New
381 Carmel Way Hemet, CA 92545
4 Beds
2,208 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,208 sqft
Price per Sqft $260
MLS Listing ID CRSW25238060
Bedrooms 4
HOA Y/N No
Year Built 1980
Lot Size 7,405 Sqft
Acres 0.17
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
Location
State CA
County Riverside
Interior
Heating Central
Fireplace No
Laundry Laundry Room, Inside
Exterior
Exterior Feature Front Yard, Other
View Y/N true
View Mountain(s)
Total Parking Spaces 4
Building
Lot Description Front Yard
New Construction No
Others
Tax ID 456151002
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Listed by Josephine Sharma • LEGACY HOMES REALTY
