651 W Devonshire Avenue, Hemet, California 92543, Hemet, 92543 - bed, bath
ACTIVE$888,000
651 W Devonshire Avenue, Hemet, California 92543
0Bed
0Bath
3,375Sqft
13,504Lot
Year Built
1974
Close
-
List price
$888K
Original List price
$895K
Price/Sqft
$263
HOA
-
Days on market
-
Sold On
-
MLS number
NP25137408
Home ConditionPoor
Features
Deck
Patio
ViewNeighborhood
About this home
We found 3 Cons,5 Pros. Rank: price - $888.0K(86th), sqft - 3375(71th), beds - undefined(50th), baths - undefined(50th).
This Fourplex is located in the center of Hemet and provides a great investment opportunity. There are 3 units with 2 bedrooms and 1 bath and 1 unit with 2 bedrooms and 2 baths.The upstairs unit has a balcony and the lower units have a private patio. The property is located on a prime lot at the corner of Tahquitz and Devonshire. There is a large included open land area between this property and the adjacent property that could be developed or used for additional parking.
Price History
Date
Event
Price
10/16/25
Price Change
$888,000-0.8%
08/20/25
Listing
$895,000
Condition Rating
Poor
The property, built in 1974, is 50 years old and shows extensive signs of age and deferred maintenance. The kitchen features extremely dated white cabinets, laminate countertops, and older appliances, all requiring a full renovation. Visible window AC units suggest a lack of central air conditioning, indicating a major system deficiency. Flooring consists of dated ceramic tile throughout, and popcorn ceilings are present. The exterior, including the parking area and balcony, is also in a state of disrepair. While currently occupied, the property appears very uncomfortable and requires substantial repairs and rehabilitation to address its outdated features and significant wear and tear.
Pros & Cons
Pros
Strong Investment Opportunity: Explicitly positioned as a 'great investment opportunity' due to its multi-unit nature (Fourplex), offering multiple income streams.
Diversified Unit Mix: Comprises three 2-bedroom/1-bath units and one 2-bedroom/2-bath unit, catering to a broader tenant demographic and potentially stabilizing occupancy.
Prime Corner Lot Location: Situated on a highly visible corner lot in the center of Hemet, offering excellent accessibility and potential for tenant attraction.
Development/Expansion Potential: Includes a significant open land area that could be developed further or utilized for additional parking, adding future value and flexibility.
Tenant-Appealing Outdoor Spaces: Features a balcony for the upstairs unit and private patios for lower units, enhancing tenant living experience and desirability.
Cons
Age of Property (1974): Built in 1974, the property is 50 years old, suggesting potential for outdated systems (e.g., plumbing, electrical, HVAC) and higher capital expenditure requirements for renovations or replacements.
Unspecified Interior Modernization: The description does not detail any recent interior upgrades, indicating units may require significant modernization to optimize rental income and attract premium tenants.
Potential for Higher Maintenance: As an older multi-unit property, it is likely to incur higher ongoing maintenance and repair costs compared to newer constructions, impacting net operating income.