$575,000

381 Carmel Way, Hemet, CA 92545

  • 4 beds
  • 2,208 sqft
  • Property Icon Duplex
  • Property Year Built Icon Built in 1980
  • Property Lot Size Icon7,405sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $260/sqft
  • Property List Date Icon Listed 27 days ago

Property Description

Welcome to 381 Carmel Way, Hemet, CA 92545. A fantastic turnkey investment opportunity with excellent cash flow, long-term stability, and room for growth! Perfect for investors looking to close before year-end or complete a 1031 exchange, this well-maintained duplex delivers a solid 8% gross CAP rate with upside potential to easily reach 10%+ through rent adjustments in future or by converting one of the garages into a ADU for additional rental income. Each spacious unit offers 2 bedrooms, 2 full baths, an indoor laundry room, and a private balcony. Both come with a 2-car attached garage, while the downstairs unit enjoys direct garage access for added convenience. The upstairs tenant is a Section 8 renter, providing reliable government-backed income through June 2026, and the downstairs tenant is on a month-to-month, offering flexibility for future rent increases or owner occupancy. The property sits on a large lot with zero-scape landscaping, designed for low-maintenance upkeep and reduced costs, while maintaining a clean and attractive appearance year-round. A fully secured private gated entrance with remote access ensures privacy and peace of mind for tenants. Additional highlights include a newer roof replaced within the last 7–8 years, separate gas and electric meters for

Listing Status:
Active
Date Added:
October 15, 2025 at 05:00AM
Listing Office:
LEGACY HOMES REALTY : 951-314-4251
Listing Agent:
Josephine Sharma : 951-314-4251
MLS ID:
CRSW25238060
  • Laundry: Laundry RoomInside
  • Heating: Central
  • General: Front YardOther
  • Parking: Int Access From GarageOther
  • HOA Amenities: 0.0
  • County: Riverside
  • Zoning: 456151002
  • View: Mountain(s)
  • Fencing: Wood

This listing courtesy of Josephine Sharma, LEGACY HOMES REALTY

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

W

Whittier Elementary School

400 W Whittier Ave, Hemet, CA, 92543

Grades KG-5

1.35 miles away

R

Rancho Viejo Middle School

985 N Cawston Ave, Hemet, CA, 92545

Grades 6-8

1.82 miles away

W

West Valley High School

3401 Mustang Way, Hemet, CA, 92545

Grades 9-12

1.69 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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