671 Greystone Lane, Hemet, California 92543, Hemet, 92543 - bed, bath

671 Greystone Lane, Hemet, California 92543 home-pic-0
ACTIVE$850,000
671 Greystone Lane, Hemet, California 92543
0Bed
0Bath
3,600Sqft
9,583Lot
Year Built
1976
Close
-
List price
$850K
Original List price
$850K
Price/Sqft
$236
HOA
-
Days on market
-
Sold On
-
MLS number
SW25194762
Home ConditionPoor
Features
Good View:
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $850.0K(86th), sqft - 3600(71th), beds - undefined(50th), baths - undefined(50th).

Rare opportunity to own a true fourplex where every unit is a 3 bedroom, 1 bath- a setup you won't find often in Hemet. Most multifamily properties in the area mix of 2-bedrooms with maybe one larger unit, but this one delivers consistent rental appeal across all four. Each unit offers a functional floor plan with its own private yard, plenty of potential for outdoor space or additional storage. Property will benefit from roof work and cosmetic upgrades, but the fundamentals are strong: stable tenant history, great unit mix, and huge value-add potential. Conveniently located near shopping, schools, and commuter routes, this property is ideal for the investor looking for a 1031 exchange, a cash-flow reposition, or simply to add a solid income property to their portfolio. Opportunities like this- 4 full sized 3-bedroom units on one lot- don't come around often!

Price History

Date
Event
Price
08/29/25
Listing
$850,000
Condition Rating
Poor

Built in 1976, this property is 48 years old. The listing explicitly states it 'will benefit from roof work and cosmetic upgrades,' indicating necessary repairs and rehabilitation. Images reveal dated interiors with popcorn ceilings, older tile flooring, and a basic, outdated kitchen. While functional, the property requires substantial investment to address deferred maintenance and bring it to modern standards, aligning with the 'poor' condition criteria.
Pros & Cons

Pros

Exceptional Unit Configuration: A rare true fourplex where every unit is a 3-bedroom, 1-bath, offering consistent and strong rental appeal, unlike most mixed-unit properties in the Hemet area.
Private Outdoor Space: Each unit features its own private yard, providing valuable outdoor space and potential for additional storage, enhancing tenant desirability.
Proven Income Stability: The property boasts a stable tenant history, indicating reliable cash flow and a solid foundation for an investor's portfolio.
Significant Value-Add Potential: Opportunities for roof work and cosmetic upgrades present a clear path to increasing equity, rental income, and overall property value.
Strategic Location: Conveniently located near shopping, schools, and major commuter routes, making it highly attractive to a broad tenant base.

Cons

Required Roof Work: The property will benefit from roof work, indicating a necessary capital expenditure for the new owner to address deferred maintenance.
Cosmetic Upgrades Needed: Cosmetic upgrades are required, suggesting the units may be dated and could limit current rental income or tenant appeal without further investment.
Age of Property: Built in 1976, the property's age may imply older systems and potential for higher ongoing maintenance costs compared to newer constructions.

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