RealKey
‪(213) 433-7766‬

44083 Palm Avenue, Hemet, California 92544, Hemet, 92544 - bed, bath

44083 Palm Avenue, Hemet, California 92544 home-pic-0
ACTIVE$879,000
44083 Palm Avenue, Hemet, California 92544
0Bed
0Bath
3,018Sqft
23,522Lot

Price Vs. Estimate

The estimated value ($799,611.76) is $79,388.24 (9%) lower than the list price ($879,000). This property may be overpriced.

Key pros and cons

Top Pros:
Strong Investment Opportunity: Explicitly marketed with a 5.21% cap rate and 'excellent cash flow,' positioning it as a robust income-generating asset for investors.
Top Cons:
Current Below Market Rents: While offering upside, the current below-market rents require active management to increase income, which may lead to tenant negotiations or turnover.

Compared to the nearby listings

Price:$879.0K vs avg $472.0K (+$407,000)98%
Size:3,018 sqft vs avg 1,742 sqft95%
Price/sqft:$291 vs avg $27860%

More Insights

Built in 1955 (70 years old).
Condition: Despite being built in 1955, the property has undergone recent professional upgrades, including new flooring, fresh paint, and updated kitchens and bathrooms. The images show clean, move-in ready interiors with modern laminate flooring, white kitchen cabinets, and functional black appliances. Bathrooms feature updated vanities and tile flooring. The property is well-maintained and requires no immediate renovations, fitting the 'Good' condition criteria for a recently renovated home.
Year Built
1955
Close
-
List price
$879K
Original List price
$899K
Price/Sqft
$291
HOA
-
Days on market
-
Sold On
-
MLS number
OC25102486
Home ConditionGood
Features
View-

About this home

Investors: 5.21 cap rate! ***Outstanding investment opportunity*** Three recently professionally upgraded single family homes on two large lots--over 3/4 of an acre in all. Houses at 44083 and 44085 Palm Avenue are on a lot with 23,522 square feet (.54 acre). 44087 is on a lot with 11,761 square feet. All three currently occupied at below market rates, month-to-month leases. Long-term tenants. Quiet residential neighborhood, close to schools and shopping. All three stand alone houses have new flooring and paint throughout, upgraded kitchens and bathrooms, fenced back yards, inside laundry hookups, AC and fireplace. Three separate gas, electricity and water meters. ***Excellent cash flow***. Seller financing possible.

Condition Rating
Good
Despite being built in 1955, the property has undergone recent professional upgrades, including new flooring, fresh paint, and updated kitchens and bathrooms. The images show clean, move-in ready interiors with modern laminate flooring, white kitchen cabinets, and functional black appliances. Bathrooms feature updated vanities and tile flooring. The property is well-maintained and requires no immediate renovations, fitting the 'Good' condition criteria for a recently renovated home.
Pros & Cons

Pros

Strong Investment Opportunity: Explicitly marketed with a 5.21% cap rate and 'excellent cash flow,' positioning it as a robust income-generating asset for investors.
Multiple Income-Generating Units: Comprises three separate single-family homes on two large lots, providing diversified rental income streams and reducing vacancy risk.
Recent Professional Upgrades: All three homes have been recently upgraded with new flooring, paint, and improved kitchens/bathrooms, minimizing immediate capital expenditure for a new owner.
Independent Utility Metering: Each of the three homes has separate gas, electricity, and water meters, simplifying tenant billing and management for the landlord.
Rental Upside Potential: Current tenants are on month-to-month leases at below-market rates, offering immediate opportunity for a new owner to increase rental income.

Cons

Current Below Market Rents: While offering upside, the current below-market rents require active management to increase income, which may lead to tenant negotiations or turnover.
Age of Structures: Built in 1955, the underlying structures are older, potentially leading to unforeseen maintenance or repair costs beyond the recent cosmetic upgrades.
Month-to-Month Lease Structure: The month-to-month lease terms, while flexible for rent adjustments, also introduce a higher risk of tenant turnover and potential vacancy periods.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state