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 Market155
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 11 at 7:22AM
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
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.
Property Analytics
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Current Use
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
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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Market
Vacancy Rate% for Multifamily in West region
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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
