381 Carmel Way, Hemet, CA 92545

• 4 beds
• 2,208 sqft

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

Interior

• Laundry: Laundry RoomInside
• Heating: Central

Exterior

• General: Front YardOther
• Parking: Int Access From GarageOther

Location

• HOA Amenities: 0.0
• County: Riverside

Lot

• Zoning: 456151002
• View: Mountain(s)
• Fencing: Wood

This listing courtesy of Josephine Sharma, LEGACY HOMES REALTY