Seller's Agent in 2025
Kristopher German
RE/MAX
(909) 645-0443
130 Total Sales
509 E Central Ave Hemet, CA 92543
Hemet Area
5
Beds
4
Baths
8,643
Sq Ft
0.37
Acre Lot
Highlights
- No HOA
- Central Air
- Wrought Iron Fence
- Hiking Trails
- 16 Car Garage
- No Heating
About This Home
As of September 20251990'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)
Last Agent to Sell the Property
RE/MAX 2000 REALTY Brokerage Phone: 909-645-0443 License #01800021 Listed on: 07/07/2025
Last Buyer's Agent
RE/MAX 2000 REALTY Brokerage Phone: 909-645-0443 License #01800021 Listed on: 07/07/2025
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1991
Lot Details
- 16,117 Sq Ft Lot
- Two or More Common Walls
- Wrought Iron Fence
- Block Wall Fence
- Density is 6-10 Units/Acre
Parking
- 16 Car Garage
- 4 Open Parking Spaces
- Parking Available
- Automatic Gate
Home Design
- Apartment
- Entry on the 1st floor
- Shingle Roof
Interior Spaces
- 8,643 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 5 Bedrooms
- 4 Bathrooms
Utilities
- Central Air
- No Heating
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 446 / 091
- Tax Tract Number 31
- Assessor Parcel Number 446091031
- $235 per year additional tax assessments
- Seller Considering Concessions
Community Details
Overview
- No Home Owners Association
- 8 Units
Recreation
- Hiking Trails
Building Details
- Rent Control
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $683
- Insurance Expense $7,600
- Maintenance Expense $10,094
- Professional Management Expense $10,407
- Trash Expense $3,862
- Water Sewer Expense $9,320
- New Taxes Expense $19,935
- Operating Expense $63,102
- Gross Income $208,140
- Net Operating Income $138,793
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $1,750,000 | Fidelity National Title | |
| Special Warranty Deed | $1,080,000 | None Available | |
| Grant Deed | -- | None Available | |
| Grant Deed | $605,000 | Lawyers Title | |
| Individual Deed | $644,000 | First American Title Co | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Grant Deed | $240,000 | Orange Coast Title | |
| Trustee Deed | $14,090 | American Title Ins Co | |
| Trustee Deed | $117,481 | World Title Company | |
| Interfamily Deed Transfer | -- | -- | |
| Corporate Deed | $1,000 | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $1,225,000 | Construction | |
| Closed | $1,066,000 | Commercial | |
| Previous Owner | $858,000 | Commercial | |
| Previous Owner | $405,000 | Commercial | |
| Previous Owner | $300,000 | Commercial | |
| Previous Owner | $150,000 | Commercial | |
| Previous Owner | $75,000 | Unknown |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/04/2026 07/04/26 | Off Market | $2,300 | -- | -- |
| 05/21/2026 05/21/26 | Price Changed | $2,300 | +9.5% | $2 / Sq Ft |
| 03/28/2026 03/28/26 | Price Changed | $2,100 | -4.5% | $2 / Sq Ft |
| 02/26/2026 02/26/26 | Price Changed | $2,200 | -8.3% | $2 / Sq Ft |
| 02/02/2026 02/02/26 | Price Changed | $2,400 | -4.0% | $2 / Sq Ft |
| 12/30/2025 12/30/25 | Price Changed | $2,500 | -3.8% | $2 / Sq Ft |
| 12/05/2025 12/05/25 | For Rent | $2,600 | 0.0% | -- |
| 09/26/2025 09/26/25 | Sold | $1,750,000 | +1.4% | $202 / Sq Ft |
| 07/23/2025 07/23/25 | Pending | -- | -- | -- |
| 07/07/2025 07/07/25 | For Sale | $1,725,000 | -- | $200 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $13,579 | $1,750,000 | $350,000 | $1,400,000 |
| 2025 | $13,579 | $1,181,133 | $410,115 | $771,018 |
| 2023 | $13,316 | $1,135,270 | $394,191 | $741,079 |
| 2022 | $12,892 | $1,113,011 | $386,462 | $726,549 |
| 2021 | $12,679 | $1,091,188 | $378,885 | $712,303 |
| 2020 | $12,527 | $1,080,000 | $375,000 | $705,000 |
| 2019 | $7,534 | $642,030 | $212,241 | $429,789 |
| 2018 | $7,304 | $629,442 | $208,080 | $421,362 |
| 2017 | $7,218 | $617,100 | $204,000 | $413,100 |
| 2016 | $7,166 | $605,000 | $200,000 | $405,000 |
| 2015 | $4,167 | $338,009 | $58,991 | $279,018 |
| 2014 | $3,987 | $331,390 | $57,837 | $273,553 |
Source: Public Records
Agents Affiliated with this Home
-
Kristopher German
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV25151759
APN: 446-091-031
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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