10-Unit Apartment Building with
For Sale
$1,995,000
43611 E Florida Ave, Hemet, CA 92544
The unit mix includes seven two-bedroom, two-bath apartments and three one-bedroom, one-bath apartments.
Property Size8,876 SF
Lot Size0.31 Acres
Days on Market10
Property Features for 43611 E Florida Ave
General Information
Standard status
Active
Size
8,876 SF
Net Rentable
8,250 SF
Total Parking Spaces
24
Lot size
0.31 Acres
Property subtype
Multifamily
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
7 x 2BR/2BA, 3 x 1BR/1BA
Multifamily Units
10
Individually Metered Utilities
gas, electricity
Amenities
swimming pool
gated entry
on-site laundry
10-unit apartment property located along Florida Avenue in Hemet.
Seven two-bedroom / two-bath units and three one-bedroom / one-bath units.
Approximately 8,250 rentable square feet on a 0.31-acre lot.
24 parking spaces, including 14 covered spaces.
Swimming pool, gated entry and on-site laundry.
Individual water heaters, dishwashers and garbage disposals.
Updated dual-pane windows.
Gas and electricity separately metered
Building Details
Building Size
8,876 SF
Year Built
1968
Units
10
Listing Agency:
Marcus & Millichap
Listed By:
Oscar Diaz · License #License(s): CA: 02022902
(213) 943-1884
Source:
Marcusmillichap
Added: Oct 23
Changed: Oct 25
Last Checked: Nov 1 at 2:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 10-unit apartment property was built in 1968 and contains approximately 8,250 rentable square feet on a 0.31-acre parcel. The mix comprises seven two-bedroom, two-bath units and three one-bedroom, one-bath units. Shared amenities include a swimming pool, controlled gated entry, laundry facilities and 24 parking spaces, 14 of them covered.
Apartment features include central air conditioning and heat, individual water heaters, dishwashers, garbage disposals and dual-pane windows. Gas and electricity are separately metered; the owner covers water, sewer and trash. The property fronts Florida Avenue, a commercial corridor in Hemet, with shopping, restaurants, schools, healthcare and everyday services in the surrounding area.
Apartment features include central air conditioning and heat, individual water heaters, dishwashers, garbage disposals and dual-pane windows. Gas and electricity are separately metered; the owner covers water, sewer and trash. The property fronts Florida Avenue, a commercial corridor in Hemet, with shopping, restaurants, schools, healthcare and everyday services in the surrounding area.
Key Highlights
- 10 apartments totaling approximately 8,250 rentable square feet on 0.31 acres
- Seven two‑bedroom, two‑bath units and three one‑bedroom, one‑bath units
- Swimming pool, gated entry and on‑site laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$143,671
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,873,420
$2.9M
Cap Rate 7%
$2,052,443
$2.1M
Cap Rate 9%
$1,596,344
$1.6M
Market Conditions
NOI Build-Up for 8,876 SF
Gross rent
$266.3K $30.00/SF
− Vacancy
−$5.1K −$0.57/SF
EGI
$261.2K $29.43/SF
− OpEx
−$117.5K −$13.24/SF
NOI
$143.7K $16.19/SF
Area
Riverside County, CA
Vacancy
1.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,873,420
Cap Rate 7%
$2,052,443
Cap Rate 9%
$1,596,344
Alternative Uses
Best Use
Apartment 5plus
$2.05M
$1.80M – $2.39M
NOI $143,671 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.66M
$2.33M – $3.10M
NOI $186,137 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
10
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Explore this area
Business Placement
Demographics for 92544, CA
50,007
Population
17,568
Households
2.8
Avg Household Size
37
Median Age
14%
College-Educated
81%
High-School Grad
170.8 sq mi
ZIP Area
293
Density / Sq Mi
$67,011
Median Household Income
$37,785
Median Earnings
$1,530
Median Rent
$356,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix includes seven two-bedroom, two-bath apartments and three one-bedroom, one-bath apartments.
Where is this apartment building located?
The property is located at 43611 E Florida Ave Hemet, CA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 10 apartments totaling approximately 8,250 rentable square feet on 0.31 acres; Seven two‑bedroom, two‑bath units and three one‑bedroom, one‑bath units; Swimming pool, gated entry and on‑site laundry
