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1/23/19
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Villa La Paz Apartments, a 26-unit apartment property located in Hemet, sold for $2.42 mil, or $93k/unit. Villa La Paz Apartments is located at 675 South San Jacinto St, south of Hwy 74.
Built in 1973, the property consists of three single-story buildings totaling 15.3k sf and sitting on just over one acre. The property is individually metered for gas and electricity and has individual hot water heaters. Other features include secured entrance and parking, on-site laundry facility (leased), 26 carport spaces with storage lockers and low maintenance landscaping.
The apartment complex consists of all one-bedroom / one-bath units averaging 588 sf each. The units offer laminated flooring, carpet, ceiling fans, stoves, mini-blinds and private enclosed backyards. In addition, eight units have central air conditioning and eighteen units have window air conditioning and wall heaters.
Douglas McCauley and David Covarrubias with Marcus & Millichap represented the buyer and the seller in the transaction.
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