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$ 700,000
Est. payment /mo
New
235 E 7th ST San Jacinto, CA 92583
0.25 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID SW25141908
HOA Y/N No
Year Built 1980
Lot Size 10,890 Sqft
Property Sub-Type Quadruplex
Property Description
This 4Plex is located in the City of San Jacinto. The City of San Jacinto is located in the San Jacinto Valley which also includes the City of Hemet. The trade area of the San Jacinto Valley is approximately 200,000 people.
This 4Plex is located in an excellent location. It's on 7th street which will take you directly out of town to wherever else your going to within the Inland Empire or Southern California. The immediate location is extremely convenient and within walking distance of Walmart, Stater Bros, and Walgreens. Bus service is right out front on 7th Street.
This 4Plex consists of four 2 bedrooms 1 baths. There are tile floors and ceiling fans throughout. There is a laundry room on the property that is currently being used as an maintenance room. The laundry room has hook ups for 2 washers and 2 dryers. There is also carport parking.
These units are really, really, nice inside. Recent upgrading and remodeling throughout. Just check out the pictures!!!
While tenants actual rents are low, they are month to month and can be raised to market rent through the Just Cause Rule. Tenants are aware the property is for sale and that their rents will be going up to market. One can see market rents AT RENT COMPS in SUPPLEMENTS ATTACHED. The rent comp is a half block away. Please note market rents, per rent comp, are $1,800 monthly!!
The returns at market rents are robust! At market rents, it's putting out $86,400 annual gross income, an 8.10 GRM, a 10.64% Cap Rate, and an awesome 26.17% Cash on Cash Return. For income, expenses, and returns, PLEASE SEE SUPPLEMENTS ATTACHED.
This is an incredible buy. The closest comp I could find is one mile south at 306 N Buena Vista Street in Hemet. It's inferior in that it's four 1 beds 1 beds (we are four 2 beds 1 baths), and it sold for $780,000!!!
Please don't hesitate to reach out with any questions. The Seller want's to do a deal and will look at all offers!!
This 4Plex is located in an excellent location. It's on 7th street which will take you directly out of town to wherever else your going to within the Inland Empire or Southern California. The immediate location is extremely convenient and within walking distance of Walmart, Stater Bros, and Walgreens. Bus service is right out front on 7th Street.
This 4Plex consists of four 2 bedrooms 1 baths. There are tile floors and ceiling fans throughout. There is a laundry room on the property that is currently being used as an maintenance room. The laundry room has hook ups for 2 washers and 2 dryers. There is also carport parking.
These units are really, really, nice inside. Recent upgrading and remodeling throughout. Just check out the pictures!!!
While tenants actual rents are low, they are month to month and can be raised to market rent through the Just Cause Rule. Tenants are aware the property is for sale and that their rents will be going up to market. One can see market rents AT RENT COMPS in SUPPLEMENTS ATTACHED. The rent comp is a half block away. Please note market rents, per rent comp, are $1,800 monthly!!
The returns at market rents are robust! At market rents, it's putting out $86,400 annual gross income, an 8.10 GRM, a 10.64% Cap Rate, and an awesome 26.17% Cash on Cash Return. For income, expenses, and returns, PLEASE SEE SUPPLEMENTS ATTACHED.
This is an incredible buy. The closest comp I could find is one mile south at 306 N Buena Vista Street in Hemet. It's inferior in that it's four 1 beds 1 beds (we are four 2 beds 1 baths), and it sold for $780,000!!!
Please don't hesitate to reach out with any questions. The Seller want's to do a deal and will look at all offers!!
Location
State CA
County Riverside
Area 699 - Not Defined
Zoning C2
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry Laundry Room
Exterior
Garage Spaces 8.0
Garage Description 8.0
Pool None
Community Features Curbs, Foothills, Sidewalks
Total Parking Spaces 8
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 437081025
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Tony Burton Burton Commercial, Inc. 951-375-7433