165 N Hamilton Ave 10 Unit Apartment Building $2,000,000 ($200,000/Unit) 5.11% Cap Rate Hemet, CA 92543

Leola Commercial, Inc. is pleased to present 165 N. Hamilton Avenue, a well-maintained 10-unit multifamily investment property located in Hemet, California. Consisting of nine units (1+1) and one unit (2+1) this investment opportunity offers large units suitable for families and working professionals.
The property features spacious units with private patios and secured covered parking, providing residents with both comfort and convenience. Several units have been recently renovated, offering investors a desirable mix of stable in-place income and future value-add potential. Ownership pride is evident throughout the asset. A savvy investor may further enhance returns by adding on-site laundry facilities and leasing existing storage areas for additional income streams. The property also benefits from excellent freeway access via State Route 79 and State Route 74. Situated on a 13,939 square-foot lot, the property offers approximately 8,180 square feet of rentable space. Current rents reflect an estimated 23.63% upside, presenting a compelling opportunity for rent growth.
Hemet is a large, mostly suburban community in the San Jacinto Valley-- one hour from Palm Springs, ninety minutes from San Diego, and two hours from Los Angeles. Residents renting apartments in Hemet have ample opportunities to explore the Southern California outdoors, with thousands of square miles of forests, deserts, and mountains just a short drive away. Not to mention Diamond Valley Lake just on the south side of town. The downtown area around East Florida Avenue is known as the Harvard District, and features several locally owned shops, cafes, and bars in a walkable environment.