123-145 N Inez St
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123-145 N Inez St
28 Unit Apartment Building $3,219,944 ($114,998/Unit) 5.47% Cap Rate Hemet, CA 92543
Investment Highlights
- $114,998 Price Per Unit
- Mix of Studios, One-Bedroom & Two-Bedroom Floor Plans
- Private Front/Back Patios (Select Units)
- Single-Story Cottage-Style Units & Duplexes
- New Vinyl Flooring, New Windows, New Cabinetry (Select Units)
- Population In Excess of 172,000 Within a Five-Mile Radius
Executive Summary
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.
Property Facts
| Price | $3,219,944 | Building Class | C |
| Price Per Unit | $114,998 | Lot Size | 1.05 AC |
| Sale Type | Investment | Building Size | 12,240 SF |
| Cap Rate | 5.47% | Average Occupancy | 100% |
| No. Units | 28 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 1.55/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Price | $3,219,944 |
| Price Per Unit | $114,998 |
| Sale Type | Investment |
| Cap Rate | 5.47% |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.05 AC |
| Building Size | 12,240 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1968 |
| Parking Ratio | 1.55/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | - | 336 - 525 |
| 2+1 | 2 | - | 720 - 800 |
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Walk Score ®
Very Walkable (85)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,445,092 | |
| Land Assessment | $495,699 | Total Assessment | $2,940,791 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$495,699
Improvements Assessment
$2,445,092
Total Assessment
$2,940,791
zoning
| Zoning Code | R3 |
| R3 |
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123-145 N Inez St
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