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$555,000
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Property Description
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)
Full Property Details
Full Property Details for 862 Oleander St
General
- Sold For: $555,000
- Status: Closed
- Type: Multi-Family
- Source: MRMLS
- MLS ID: CV25148384
- Added to Site: 198 day(s) ago
Interior
- Rooms/Areas: All Bedrooms Down
- Interior Features: Copper Plumbing (Full)
- Fireplace(s): None
Rooms
Other Rooms
- Laundry: None
Additional Information
- Pool Description: None
- Spa Description: None
Parking
- Garage Spaces: 2
- Parking Features: Garage
- Parking: Garage
Location
- Area: SRCAR - Southwest Riverside County
- County: Riverside
- Development Name: SRCAR - Southwest Riverside County
- Driving Directions: Just South of Mayberry Ave and East of Palm Ave
Heating & Cooling
- Cooling Type: Central Air
- Heating Type: Central
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 1
- # Gas Meters: 2
- # Electric Meters: 2
Structural Information
- Foundation: Slab
- Roof: Shingle
- Entry Location: 1
- Stories/Levels: One
- Stories Description: One
- Square Feet: 2,258
- Year Built: 1984
Lot Features
- Property View: None
- Lot Size (Acres): 0.21
- Lot Size Source: Assessor
- Lot Dimensions: 11
- Zoning: R3
- Lot Description: 0-1 Unit/Acre
Financial Considerations
- Price Per Sq. Ft.: $245.79
- Price Per Unit: 262500
Listed by Re/Max 2000 Realty, Kristopher German
Sold by Ladera Home Realty, Francis Enriquez
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Schools
Schools serving 862 Oleander St
School District:Hemet Unified School District
| Name | Grades | Distance |
|---|---|---|
Whittier Elementary School, Hemet, CA 400 West Whittier Avenue, Hemet, CA 92543 | K-5 | 0.4 mi |
Diamond Valley Middle School 291 West Chambers Street, Hemet, CA 92543 | 6-8 | 1.3 mi |
West Valley High School 3401 Mustang Way, Hemet, CA 92545 | 9-12 | 2.2 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 862 Oleander St
Date
Details
Price
Change
Source
9/26/2025
Sold
$555,000
5.71%
MLS
7/02/2025
Listed
$525,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
862 Oleander Street, Hemet, CA 92543 (MLS# CV25148384) is a Multi-Family property that was sold at $555,000 on September 26, 2025. Want to learn more about 862 Oleander Street? Do you have questions about finding other Multi-Family real estate for sale in Hemet? You can browse all Hemet real estate or contact a Coldwell Banker agent to request more information.

