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491 S Simpson Ave - PRISTINE 4 UNITS IN HEMET 4 Unit Apartment Building Offered at $1,043,625 CAD at a 9% Cap Rate Hemet, CA 92543
INVESTMENT HIGHLIGHTS
- NEW ROOF. NEW HVAC'S. UPGRADED NEWER CABINETRY AND APPLIANCES
- SIX GARAGES!! ONE 2 CAR AND FIVE 1 CAR!!!
- NICE LIKE NEW UNITS!
- LOCATED IN THE NICEST LOCATION IN HEMET, ADJACENT TO SIERRA DAWN!! NO CRIME!! NO GHETTO!! BEAUTIFUL NEIGHBORHOOD!!!
EXECUTIVE SUMMARY
THESE UNITS ARE BREATHTAKENLY FINE!!!
This Hemet 4Plex is located in the nicest section of Hemet, adjacent to the Sierra Dawn community of Hemet. This community is the best location in Hemet, known for it's very high pride of ownership, and no crime or ghetto!!!
Also, these units have been kept up like they are new! NEW ROOF! NEW HVAC'S! Upgraded cabinetry and appliances! Newer tile flooring. Granite counter tops! Check out the pictures. This place is REALLY, REALLY NICE!!!
This complex consists of:
One: 2 bedroom, 2 bath unit.
Three: 1 bedroom, 1 bath units.
One: 2 CAR GARAGE FOR THE 2 BEDROOM UNIT!!
A nice roomy laundry room!
THREE: 1 CAR GARAGES FOR THE 1 BEDROOM UNITS!!!
All units are separately metered, with tenants signing up and paying their electric and gas.
Landlord pays water and trash.
While actual rents are below market, the rents are month to month and can be brought up to market. Please see rent roll, and rent comps attached in MARKETING PACKAGE.
At actual rents, we're putting out a positive cash flow. And if you bring up the month to month rents to market, were putting out the following:
$81,000 Annual Gross Income!
A 9.26 Gross Rent Multiplier!
A 9.11% Cap Rate!
And a robust, double digit 17.52% Cash on Cash Return!!!
With this location, you can't go wrong. You're virtually guaranteed, top of the market rents, low vacancy, and HUGE rent and price appreciation!!!
This Hemet 4Plex is located in the nicest section of Hemet, adjacent to the Sierra Dawn community of Hemet. This community is the best location in Hemet, known for it's very high pride of ownership, and no crime or ghetto!!!
Also, these units have been kept up like they are new! NEW ROOF! NEW HVAC'S! Upgraded cabinetry and appliances! Newer tile flooring. Granite counter tops! Check out the pictures. This place is REALLY, REALLY NICE!!!
This complex consists of:
One: 2 bedroom, 2 bath unit.
Three: 1 bedroom, 1 bath units.
One: 2 CAR GARAGE FOR THE 2 BEDROOM UNIT!!
A nice roomy laundry room!
THREE: 1 CAR GARAGES FOR THE 1 BEDROOM UNITS!!!
All units are separately metered, with tenants signing up and paying their electric and gas.
Landlord pays water and trash.
While actual rents are below market, the rents are month to month and can be brought up to market. Please see rent roll, and rent comps attached in MARKETING PACKAGE.
At actual rents, we're putting out a positive cash flow. And if you bring up the month to month rents to market, were putting out the following:
$81,000 Annual Gross Income!
A 9.26 Gross Rent Multiplier!
A 9.11% Cap Rate!
And a robust, double digit 17.52% Cash on Cash Return!!!
With this location, you can't go wrong. You're virtually guaranteed, top of the market rents, low vacancy, and HUGE rent and price appreciation!!!
PROPERTY FACTS
| Price | $1,043,625 CAD | Property Type | Multifamily |
| Price Per Unit | $260,906 CAD | Building Size | 3,500 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 9% | Year Built | 1973 |
| Gross Rent Multiplier | 9.26 | Opportunity Zone |
Yes
|
| No. Units | 4 |
| Price | $1,043,625 CAD |
| Price Per Unit | $260,906 CAD |
| Sale Type | Investment |
| Cap Rate | 9% |
| Gross Rent Multiplier | 9.26 |
| No. Units | 4 |
| Property Type | Multifamily |
| Building Size | 3,500 SF |
| No. Stories | 1 |
| Year Built | 1973 |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 1 | - | - |
| 1+1 | 3 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 446-031-018 | Improvements Assessment | $350,044 CAD |
| Land Assessment | $164,707 CAD | Total Assessment | $514,751 CAD |
PROPERTY TAXES
Parcel Number
446-031-018
Land Assessment
$164,707 CAD
Improvements Assessment
$350,044 CAD
Total Assessment
$514,751 CAD
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Burton Apartment Realtors
491 S Simpson Ave - PRISTINE 4 UNITS IN HEMET
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