Duplex With Separate Utility
For Sale
$468,000
581 E Menlo, Hemet, CA 92543
Two residences provide a two-bedroom layout and a one-bedroom layout, each with one bathroom and its own utility meters.
Property Size1,608 SF
Lot Size0.41 Acres
Days on Market163
Property Features for 581 E Menlo
General Information
Standard status
Active
Size
1,608 SF
Lot size
0.41 Acres
Property subtype
Investment
Zoning
R-3
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
fenced yard
Building Details
Building Size
1,608 SF
Year Built
1952
Units
2
Listed By:
Gloria Cardoso
(626) 257-0905
Source:
Elliman
Added: May 10
Changed: Oct 9
Last Checked: Oct 19 at 6:55AM
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 Gloria Cardoso
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Investment Insights
Based on property information with market context.
This duplex includes two distinct residences arranged for separate occupancy. The front unit has 2 bedrooms and 1 bathroom, while the rear unit offers 1 bedroom and 1 bathroom. Gas, electric, and water meters are individually installed for each unit. The property also features a fenced yard, an extended driveway serving the rear residence, and substantial on-site parking.
Located at 581 E Menlo in Hemet, the property is near stores, gas stations, and freeway access. The site is zoned R-3 and measures 17,859, with room across the lot for the existing improvements and rear access. Built in 1952, the property has a 63 Walk Score and a 58 Bike Score.
Located at 581 E Menlo in Hemet, the property is near stores, gas stations, and freeway access. The site is zoned R-3 and measures 17,859, with room across the lot for the existing improvements and rear access. Built in 1952, the property has a 63 Walk Score and a 58 Bike Score.
Key Highlights
- Two separate units with individual gas, electric, and water meters
- Front unit: 2 bedrooms and 1 bathroom
- Rear unit: 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,252
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,040
$565.0K
Cap Rate 7%
$403,600
$403.6K
Cap Rate 9%
$313,911
$313.9K
Market Conditions
NOI Build-Up for 1,608 SF
Gross rent
$41.1K $25.56/SF
− Vacancy
−$740 −$0.46/SF
EGI
$40.4K $25.10/SF
− OpEx
−$12.1K −$7.53/SF
NOI
$28.3K $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 Rate 5%
$565,040
Cap Rate 7%
$403,600
Cap Rate 9%
$313,911
Alternative Uses
Best Use
Multifamily LT 5
$403.6K
$353.2K – $470.9K
NOI $28,252 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$371.8K
$325.4K – $433.8K
NOI $26,028 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$481.7K
$421.5K – $562.0K
NOI $33,721 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Duplex - Two residences provide a two-bedroom layout and a one-bedroom layout, each with one bathroom and its own utility meters.
Where is this duplex located?
The property is located at 581 E Menlo Hemet, CA.
What is the asking price?
The asking price for this property is $468,000.
What are key features of this property?
This property features: Two separate units with individual gas, electric, and water meters; Front unit: 2 bedrooms and 1 bathroom; Rear unit: 1 bedroom and 1 bathroom
