509 E Central Ave

1990'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)

This home located at 509 E Central AVE is currently pending and has been available on pardeeproperties.com for 16 days. This property is listed at $1,725,000. It has 5 beds and 4 bathrooms. The property was built in 1991. 509 E Central AVE is in the Southwest Riverside County community of Riverside County.

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