Fourplex with Dedicated
New
For Sale
$850,000
955 W Devonshire, Hemet, CA 92543
Four two-bedroom residences offer private outdoor space and individual mechanical systems.
Property Size3,400 SF
Days on Market3
Property Features for 955 W Devonshire
General Information
Standard status
Active
Size
3,400 SF
Total Parking Spaces
8
Property subtype
Investment
Units
Unit Mix
4 x 2BR/1.75BA
Multifamily Units
4
Parking per Unit
2
Individually Metered Utilities
gas, electricity
Additional Details
Utilities to Site
Yes
Amenities
on-site community laundry hookups
Building Details
Building Size
3,400 SF
Year Built
1989
Buildings
1
Stories
2
Units
4
Listed By:
Jorge Martinez
Source:
Elliman
Added: Oct 30
Last Checked: Nov 1 at 6:29AM
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 Jorge Martinez
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Investment Insights
Based on property information with market context.
The 1989-built fourplex at 955 W Devonshire Ave comprises four two-bedroom, 1.75-bath units. The mix includes a single-level residence with a private patio and attached two-car garage, a ground-floor unit with a patio and two-car carport, and two upper-level apartments with balconies. Each unit has central HVAC, a gas range, an individual water heater, and hookups for private laundry. Community laundry hookups are also on site.
Gas and electricity are separately metered for each unit. Parking is assigned at two spaces per residence, with the specific arrangements varying by unit. The property is located in Hemet, California.
Gas and electricity are separately metered for each unit. Parking is assigned at two spaces per residence, with the specific arrangements varying by unit. The property is located in Hemet, California.
Key Highlights
- Four units, each with 2 bedrooms and 1.75 bathrooms
- Built in 1989
- Two assigned parking spaces per unit; Unit A has an attached 2‑car garage, and Unit B has a 2‑vehicle carport
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,738
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,194,760
$1.2M
Cap Rate 7%
$853,400
$853.4K
Cap Rate 9%
$663,756
$663.8K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$86.9K $25.56/SF
− Vacancy
−$1.6K −$0.46/SF
EGI
$85.3K $25.10/SF
− OpEx
−$25.6K −$7.53/SF
NOI
$59.7K $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%
$1,194,760
Cap Rate 7%
$853,400
Cap Rate 9%
$663,756
Alternative Uses
Best Use
Multifamily LT 5
$853.4K
$746.7K – $995.6K
NOI $59,738 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$786.2K
$687.9K – $917.2K
NOI $55,034 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$1.02M
$891.3K – $1.19M
NOI $71,301 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,147
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?
Quadplex - Four two-bedroom residences offer private outdoor space and individual mechanical systems.
Where is this quadplex located?
The property is located at 955 W Devonshire Hemet, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1.75 bathrooms; Built in 1989; Two assigned parking spaces per unit; Unit A has an attached 2‑car garage, and Unit B has a 2‑vehicle carport
