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Multifamily

451 Westminster Place

451 Westminster Pl, Hemet, CA 92545

Listing Price: $980,000

Cap Rate
5.54%
Number of Units
4
GRM
10.65
Occupancy
95.0%
Price/Unit
$245,000
Price/Gross SF
$254.68
Gross SF
3,848

Investment Overview

INVESTMENT OVERVIEW
Marcus & Millichap is pleased to present this exclusive investment opportunity located at 451 Westminster Place in Hemet, California. Constructed in 1991, this property has a total of four units featuring a highly desirable mix of two 2-bedroom units with one & three quarter bathrooms and two 3-bedroom units with one & three quarter bathrooms. The downstairs 2-bedroom units each include direct access to an attached garage with direct entry into the unit, private backyards and in-unit laundry hookups. The upstairs 3-bedroom units offer private balconies, in-unit laundry hookups, and spacious living areas designed for families or those seeking additional room. All units are equipped with central air conditioning and heating, dishwashers, microwaves & gas stoves/ovens. Each unit has individual hot water heaters and is individually metered for gas and electricity.
This property is under the West Court Homeowners' Association (HOA). To ensure a visually appealing environment, the HOA maintains front landscaping. This prime investment opportunity is nestled in an area surrounded by single family homes. The well-maintained units and desirable amenities contribute to low turnover rates and higher-than-average rental yields.
Situated in Hemet, a growing city in Riverside County, the property benefits from strong demand in the rental market. The location is less than a mile North of the principal thoroughfare of Florida Avenue, also known as the State Route 74 that takes commuters west to the I-5 in San Juan Capistrano, Orange County and east to the city limits of Palm Desert. The region's consistent population growth, combined with affordable living costs, makes this property a valuable asset in the Inland Empire market.

Investment Highlights

  • Built in 1991 Unit Mix of Two- and Three-Bedroom Floor Plans
  • Pitched Tile Roofs Copper Piping Central A/C & Heat
  • In-Unit Laundry Hookups Four Garages, Four Carports, and Two Open Parking Spaces Individual Hot Water Heaters
  • Individually Metered for Gas & Electricity Population Exceeds 158,000 Within a 5-Mile Radius Average Household Income Over $71,000 Within a 5-Mile Radius

Exclusively Listed By

Multifamily

451 Westminster Place

Listing Price: $980,000

Cap Rate
5.54%
Number of Units
4
GRM
10.65
Occupancy
95.0%
Price/Unit
$245,000
Price/Gross SF
$254.68
Gross SF
3,848

Investment Highlights

  • Built in 1991 Unit Mix of Two- and Three-Bedroom Floor Plans
  • Pitched Tile Roofs Copper Piping Central A/C & Heat
  • In-Unit Laundry Hookups Four Garages, Four Carports, and Two Open Parking Spaces Individual Hot Water Heaters
  • Individually Metered for Gas & Electricity Population Exceeds 158,000 Within a 5-Mile Radius Average Household Income Over $71,000 Within a 5-Mile Radius

Investment Overview

INVESTMENT OVERVIEW Marcus & Millichap is pleased to present this exclusive investment opportunity located at 451 Westminster Place in Hemet, California. Constructed in 1991, this property has a total of four units featuring a highly desirable mix of two 2-bedroom units with one & three quarter bathrooms and two 3-bedroom units with one & three quarter bathrooms. The downstairs 2-bedroom units each include direct access to an attached garage with direct entry into the unit, private backyards and in-unit laundry hookups. The upstairs 3-bedroom units offer private balconies, in-unit laundry hookups, and spacious living areas designed for families or those seeking additional room. All units are equipped with central air conditioning and heating, dishwashers, microwaves & gas stoves/ovens. Each unit has individual hot water heaters and is individually metered for gas and electricity. This property is under the West Court Homeowners' Association (HOA). To ensure a visually appealing environment, the HOA maintains front landscaping. This prime investment opportunity is nestled in an area surrounded by single family homes. The well-maintained units and desirable amenities contribute to low turnover rates and higher-than-average rental yields. Situated in Hemet, a growing city in Riverside County, the property benefits from strong demand in the rental market. The location is less than a mile North of the principal thoroughfare of Florida Avenue, also known as the State Route 74 that takes commuters west to the I-5 in San Juan Capistrano, Orange County and east to the city limits of Palm Desert. The region's consistent population growth, combined with affordable living costs, makes this property a valuable asset in the Inland Empire market.

Exclusively Listed By

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