381 Carmel WAY Active Save Request In-Person Tour Request Virtual Tour
Hemet,CA 92545
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSW25238060
Year Built 1980
Lot Size 7,405 Sqft
Property Sub-Type Duplex
Source California Regional MLS
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 ea
Location
State CA
County Riverside
Area Srcar - Southwest Riverside County
Interior
Heating Central Forced Air
Laundry In Laundry Room,Other
Exterior
Parking Features Garage,Other
Garage Spaces 4.0
Pool 31,None
View Hills
Building
Water District - Public
Others
Tax ID 456151002
Special Listing Condition Not Applicable