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123 N Inez Street

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Address: 123 N Inez St, Hemet, CA 92543, USA

California & West + Apartment Buildings

Created date: October 23, 2024

Date last updated: October 23, 2024

$114,998 Price Per Unit
Single-Story Cottage-Style Units & Duplexes
Mix of Studios, One-Bedroom & Two-Bedroom Floor Plans
New Vinyl Flooring, New Windows, New Cabinetry (Selected Units)
Private Front/Back Patio (Selected Units)
Population In Excess of 172,000 Within a Five-Mile Radius
Average Household Income Over $73,000 Within a Five-Mile Radius

Property Description

Marcus & Millichap is pleased to exclusively present the opportunity to acquire 123 North Inez Street, a 28-unit multifamily investment property in the city of Hemet, California. The offering consists of multiple duplexes and cottage-style single-story units that were constructed between 1920 to 1968. The buildings sit on a single parcel of 0.91 acres (39,640 square feet) with approximately 200 feet of frontage on North Inez Street (east) and 100 feet of frontage on North Alessandro Street (west). The offering includes six studio/1-bathroom floor plans, twenty one-bedroom/one-bathroom floor plans, and two two-bedroom/one-bathroom floor plans. The buildings offer pitched roofs and were renovated with freshly painted exteriors. Selected units offer new vinyl flooring, new kitchen and bathroom cabinetry, new windows, and a private front/back patio. Each unit is equipped with a wall-unit air conditioning. The majority of units (22) are master metered for utilities. Six units are individually metered for gas, electricity and have individual hot water heaters. For parking, there are approximately twelve open parking spaces and other tandem parking spaces.

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Key Property Information

Listing Status:	Available
Property Types:	Apartment Buildings
Price:	$3,219,944
No. of Units:	28
Cap Rate:	5.47%
Year Built:	1920
Lot Size:	0.91 Acres
No. of Stories:	1
Opportunity Zone:	No
Price per unit:	$114,998