3626 West Devonshire Avenue

Hemet, CA 92545

$6,200,000
Price
29
Beds
31
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
a sign that is sitting on the side of a road
a view of a house with a swimming pool and a yard
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a front view of a house with a yard
a view of a house with a street
a front view of a house with a yard and garage
a view of road with card parked on side and retail shops
a front view of a house with a yard and garage
a view of a patio with swimming pool
a view of multiple houses with a yard
a view of an empty room with a window
a view of a livingroom with furniture and a fireplace
an aerial view of residential houses with outdoor space
an aerial view of a city
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Description

This multi-parcel offering includes a fully-leased, 20-unit condominium complex within a gated community, as well as an adjacent 5.41-acre parcel of vacant land, primed for future development. With the potential to expand the site to accommodate up to 98 apartment units (buyer to verify), this property offers both immediate cash flow and significant development potential. Hemet, located in Riverside County, is a rapidly growing city known for its welcoming community and picturesque surroundings....This multi-parcel offering includes a fully-leased, 20-unit condominium complex within a gated community, as well as an adjacent 5.41-acre parcel of vacant land, primed for future development. With the potential to expand the site to accommodate up to 98 apartment units (buyer to verify), this property offers both immediate cash flow and significant development potential. Hemet, located in Riverside County, is a rapidly growing city known for its welcoming community and picturesque surroundings. With its strategic location near key Southern California markets and increasing demand for housing, Hemet is undergoing substantial growth and development, making it an ideal environment for real estate investment. The well-maintained property boasts desirable amenities, including a community swimming pool, clubhouse, and secure gated access. Ownership has made substantial capital investments to ensure the property’s condition remains in top form, further enhancing its appeal to both residents and investors. Situated at 3626 W Devonshire Ave, this stable, income-generating asset in the Inland Empire region offers a promising return on investment. Whether you are a first-time investor entering the market, an experienced investor looking to expand your portfolio, or considering a 1031 Exchange, this property presents an exceptional opportunity for stability, growth, and long-term value.
  1. Listed by Yuan Le • DRE #01947274 • Brokerage DRE #02201099 • Ricky&Jessie Realty • 213-249-3255
  2. Listed by Ricky Lee • DRE #01932116 • Brokerage DRE #02201099 • Ricky&Jessie Realty

Property Details for 3626 West Devonshire Avenue

Parking Spaces Total
2
Private Pool
Yes
Total Units
13.0
Building Type
Attached
Lot Size Source
Estimated
Living Area
1
Assessor Parcel Number
448-231-001
Property Attached YN
true
LISTING UPDATED: 09/18/2024 11:44 PM

Property Details for 3626 West Devonshire Avenue

StatusActive
MLS #TR24193765
Days on Market70
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2008
CountyRiverside County

Building Information for 3626 West Devonshire Avenue

Building/Complex3626 W Devonshire AveFloor-Stories2Residences-Pet Policy-Year Built2008Building Size-

Property Information for 3626 West Devonshire Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $445,500
  • Gross Scheduled Income: $445,500
  • Net Operating Income: $205,877
Expense Details
  • Operating Expense: $239,623
  • Fuel Expense: $4,934
  • Electric Expense: $8,242
  • Insurance Expense: $14,594
  • Professional Management Expense: $1,881
  • Trash Expense: $10,066
  • Water Sewer Expense: $37,489
  • Total Expenses: $239,623
Tax / Assessment Info
  • Tax Tract Number: 33707
  • Tax Census Tract: 435.18
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 1
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside
  • Heating Type: Central
  • Heating: Central
Exterior Features
  • Entry Location: 1
  • Pool Features: Private, Fenced
  • Pool Description: Fenced, Private
  • Pool: Private
  • Spa Features: In Ground
Land/Lot Info
  • Number Of Units: 13
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Parking Garage Spaces: 2
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,900
  • Unit Type Total Rent: $22,800
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,800
  • Unit Type Total Rent: $21,600
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 10
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,200
  • Unit Type Total Rent: $26,400
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 11
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,900
  • Unit Type Total Rent: $22,800
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 12
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,900
  • Unit Type Total Rent: $22,800
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 13
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,100
  • Unit Type Total Rent: $25,200
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 2
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,625
  • Unit Type Total Rent: $19,500
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 3
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,975
  • Unit Type Total Rent: $23,700
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 4
Unit 9
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,650
  • Unit Type Total Rent: $19,800
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 5
Unit 10
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,800
  • Unit Type Total Rent: $21,600
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 6
Unit 11
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,100
  • Unit Type Total Rent: $25,200
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 7
Unit 12
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,900
  • Unit Type Total Rent: $22,800
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 8
Unit 13
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,800
  • Unit Type Total Rent: $21,600
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 9
Unit Information
  • Number Of Units Leased: 20
  • Rent Controlled: No
  • Number Of Buildings: 5
  • Number Of Separate Electric Meters: 20
  • Number Of Separate Gas Meters: 20
  • Number Of Separate Water Meters: 1

Property History for 3626 West Devonshire Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 3626 West Devonshire Avenue

This home is within Hemet Unified School District.
Rating
School
Type
Grades
Distance
Cawston Elementary School
Public - K to 5
Rancho Viejo Middle School
Public - 6 to 8
Tahquitz High School
Public - 9 to 12
Hemet Elementary
Public - K to 5
Rating
School
Distance
Cawston Elementary School
PublicK to 5

Rancho Viejo Middle School
Public6 to 8

Tahquitz High School
Public9 to 12

Hemet Elementary
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 3626 West Devonshire Avenue, Hemet, CA 92545

3626 West Devonshire Avenue is a multi-family home for sale in Hemet, CA 92545. This property was listed for sale on September 17, 2024 by Ricky&Jessie Realty, it's currently listed at $6,200,000. This listing's school district is Hemet Unified School District. Nearby schools include Cawston Elementary School, Rancho Viejo Middle School and Tahquitz High School. 3626 West Devonshire Avenue is a 29-bed, 31-bath, multi-family home built in 2008.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Ricky&Jessie Realty, Yuan Le, DRE #01947274; Ricky&Jessie Realty, Ricky Lee, DRE #01932116

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.