Remodeled Four-Unit
For Sale
$749,999
191 N Inez St, Hemet, CA 92543
Hemet, CA
Property Size2,000 SF
Lot Size0.13 Acres
Price / SF$374
Days on Market18
Property Features for 191 N Inez St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1
Parking
6
Parking features
Assigned
Fencing
Cross Fenced
Appliances
Water Heater, Microwave, Refrigerator, Gas Range
Lot features
Corner Lot, Front Yard
Directions
FLORIDA/ NORTH INEZ/ LATHAM
Subdivision
SRCAR - Southwest Riverside County
Standard status
Active
APN
443223019
Lot size
0.13 Acres
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s), Wall/Window Unit(s)
Amenities
private patios
Building Details
Year built
1964
Floors in Building
1
Number of units
4
Roof type
Asphalt
Listing Agency:
Berkshire Hathaway HomeServices California Properties
(951) 677-3565
Listed By:
Ramiro Jr Montes-Ortiz · License #02248010
(951) 942-8241
Added: Aug 26
Changed: Sep 11
Last Checked: Sep 12 at 3:06AM
MLS# SW26190122
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit quadplex contains approximately 2,000 square feet of living space on a 0.13-acre lot. Each residence has a private patio, while the fully fenced property provides six assigned parking spaces. Two units received extensive interior and exterior renovations, including updated kitchens, bathrooms, flooring, walls, paint, closets, doors, ceiling fans, and screens. Property systems include wall furnaces, window or wall/window cooling units, gas ranges, refrigerators, microwaves, and water heaters. Public sewer service is available, with cable service also listed.
Built in 1964, the property is located at 191 N Inez St in Hemet, approximately 1 mile from Downtown Hemet and within a 7-minute walk of the Hemet Police Department. Shopping, dining, schools, parks, entertainment, and everyday amenities are identified in the surrounding area. A fully paid pest control contract extends through Dec 2026.
Built in 1964, the property is located at 191 N Inez St in Hemet, approximately 1 mile from Downtown Hemet and within a 7-minute walk of the Hemet Police Department. Shopping, dining, schools, parks, entertainment, and everyday amenities are identified in the surrounding area. A fully paid pest control contract extends through Dec 2026.
Key Highlights
- Four‑unit property with approximately 2,000 square feet of living space
- Two units received extensive remodels, including kitchens, bathrooms, flooring, paint, and exterior improvements
- Six assigned parking spaces and private patios for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,140
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$702,800
$702.8K
Cap Rate 7%
$502,000
$502.0K
Cap Rate 9%
$390,444
$390.4K
Market Conditions
NOI Build-Up for 2,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.1K $25.56/SF
− Vacancy
−$920 −$0.46/SF
EGI
$50.2K $25.10/SF
− OpEx
−$15.1K −$7.53/SF
NOI
$35.1K $17.57/SF
Area
Riverside County, CA
Vacancy
1.80%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$702,800
Cap Rate 7%
$502,000
Cap Rate 9%
$390,444
Alternative Uses
Best Use
Multifamily LT 5
$502.0K
$439.3K – $585.7K
NOI $35,140 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$462.5K
$404.7K – $539.6K
NOI $32,373 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$599.2K
$524.3K – $699.0K
NOI $41,942 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,332
Businesses Nearby
Explore this area
Business Placement
Demographics for 92543, CA
39,323
Population
15,225
Households
2.6
Avg Household Size
37
Median Age
13%
College-Educated
75%
High-School Grad
19.1 sq mi
ZIP Area
2,059
Density / Sq Mi
$47,002
Median Household Income
$34,376
Median Earnings
$1,306
Median Rent
$250,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Income-producing property with private patios, assigned parking, and two updated residences.
Where is this quadplex located?
The property is located at 191 N Inez St Hemet, CA.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: Four‑unit property with approximately 2,000 square feet of living space; Two units received extensive remodels, including kitchens, bathrooms, flooring, paint, and exterior improvements; Six assigned parking spaces and private patios for each unit
