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$3,219,944
Est. payment /mo
0.91 Acres Lot
UPDATED:
12/05/2024 05:17 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV24220030
HOA Y/N No
Year Built 1968
Lot Size 0.910 Acres
Property Description
We are 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/one-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.
The offering is located just north of East Florida Ave, also known as State Route 74, the principle thoroughfare that takes commuters west to the I-5 in San Juan Capistrano, Orange County and east to the city limits of Palm Desert. Major department stores and grocery stores including Walmart, Grocery Outlet, Sprouts, Target, Walgreens, Smart & Final, and Stater Bros. Markets are within three-mile drive from the subject property.
123 North Inez Street is centrally located with only minutes’ walk away from Downtown Hemet. Downtown Hemet is a vibrant community hub of the San Jacinto Valley and a unique destination that attracts tourists with its well preserved and diverse architecture, historic buildings, and small-town charm. It is divided into seven distinct districts or neighborhoods: Downtown Village District, Weston Park District, Transit Oriented District, Hemet Stock Farm District, West Latham District, Kimball Avenue Neighborhood, and Franklin Street Neighborhood. Downtown Hemet takes pride in its local traditions and history, including its agricultural past, the celebrations of the Ramona Pageant, and a rich arts community. The city hosts weekly farmer’s market and street fair that highlights local small businesses, homemade vendors, and local farms.
The offering is located just north of East Florida Ave, also known as State Route 74, the principle thoroughfare that takes commuters west to the I-5 in San Juan Capistrano, Orange County and east to the city limits of Palm Desert. Major department stores and grocery stores including Walmart, Grocery Outlet, Sprouts, Target, Walgreens, Smart & Final, and Stater Bros. Markets are within three-mile drive from the subject property.
123 North Inez Street is centrally located with only minutes’ walk away from Downtown Hemet. Downtown Hemet is a vibrant community hub of the San Jacinto Valley and a unique destination that attracts tourists with its well preserved and diverse architecture, historic buildings, and small-town charm. It is divided into seven distinct districts or neighborhoods: Downtown Village District, Weston Park District, Transit Oriented District, Hemet Stock Farm District, West Latham District, Kimball Avenue Neighborhood, and Franklin Street Neighborhood. Downtown Hemet takes pride in its local traditions and history, including its agricultural past, the celebrations of the Ramona Pageant, and a rich arts community. The city hosts weekly farmer’s market and street fair that highlights local small businesses, homemade vendors, and local farms.
Location
State CA
County Riverside
Area 699 - Not Defined
Zoning R3
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Sidewalks
Private Pool No
Building
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 443223008
Energy Description 4960.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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Listed by David Covarrubias • MARCUS & MILLICHAP • 626-319-2479