381 Carmel WAY new 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 SW25238060
HOA Y/N No
Year Built 1980
Lot Size 7,405 Sqft
Property Sub-Type Duplex
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 each unit to minimize expenses, and long-term anchor tenants with great payment history making this a truly a great investment. Located in a well-established West Hemet neighborhood, the property is behind the Lowe's shopping center and near the brand new warehouse, close to schools, shopping, restaurants, and parks, with easy access to major commuter routes. With strong existing income, minimal upkeep, and multiple opportunities for value add, 381 Carmel Way is an ideal choice for both seasoned investors and those starting their multifamily journey. Don't miss this rare opportunity, secure your investment today before it's gone!
Location
State CA
County Riverside
Area Srcar - Southwest Riverside County
Interior
Heating Central
Fireplace No
Laundry Inside,Laundry Room
Exterior
Parking Features Concrete,Direct Access,Driveway,Garage
Garage Spaces 4.0
Garage Description 4.0
Fence Security,Wood
Pool None
Community Features Storm Drain(s),Street Lights,Sidewalks
View Y/N Yes
View Mountain(s)
Total Parking Spaces 4
Private Pool No
Building
Lot Description Front Yard
Story 1
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 456151002
Acceptable Financing Cash,Conventional,FHA,VA Loan
Listing Terms Cash,Conventional,FHA,VA Loan
Special Listing Condition Standard