862 Oleander Street
Hemet, CA, 92543
$525,000
Beds
0 Baths
SqFt
0.21 Acres
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We are pleased to present this exceptional opportunity to acquire a low-maintenance, income-producing duplex featuring (2) spacious 2-Bed/2-Bath single-story units—ideal for both seasoned investors and first time buyers. Built in the 1980s, this property benefits from modern construction standards and has been thoughtfully renovated inside and out. Each unit is equipped with its own private 2-car garage, plus ample on-site parking—a rare find that enhances tenant satisfaction and retention. Interiors have been extensively upgraded, including new flooring, dual-pane windows, fully remodeled kitchens and bathrooms, offering a turnkey asset with zero deferred maintenance. The property is individually metered for gas and electricity, reducing owner operating costs, while the xeriscape landscaping ensures minimal upkeep. Strong financials with a GRM of 10.17 and a current Cap Rate of 6.69% make this a compelling investment from day one. One of, if not the only, duplex on the market with positive cash-flow. Don’t miss this rare chance to own a stabilized asset with upside potential in a sought-after rental market. This property is part of a 13 unit portfolio for sale in Hemet (additional Tri-Plex see MLS#CV25148426 and 8 units property see MLS#CV25151759)

Property Details

Price:
$525,000
MLS #:
CV25148384
Status:
Active
Baths:
0
Address:
862 Oleander Street
Type:
Residential Income
Subtype:
Duplex
Neighborhood:
srcarsouthwestriversidecounty
City:
Hemet
Listed Date:
Jul 2, 2025
State:
CA
ZIP:
92543
Lot Size:
9,147 sqft / 0.21 acres (approx)
Year Built:
1984
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Schools

Interior

Cooling
Central Air
Fireplace Features
None
Heating
Central
Interior Features
Copper Plumbing Full

Exterior

Community Features
Sidewalks
Fencing
Wood
Foundation Details
Slab
Garage Spaces
2.00
Lot Features
0-1 Unit/ Acre
Parking Features
Garage
Parking Spots
2.00
Pool Features
None
Roof
Shingle
Sewer
Public Sewer
Spa Features
None
Stories Total
1
View
None
Water Source
Public

Financial

Association Fee
0.00
Tenant Pays
Electricity, Gas
Utilities
Electricity Available, Natural Gas Available, Sewer Available, Water Available

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862 Oleander Street
Hemet, CA