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29448408
25735035

0 New Chicago Ave, Hemet, CA 92544

MB
CA 01316702
Matthews
Listed by Matthews
$2,350,000
306 days on market
Updated 73 days ago

WINSTON COURT APARTMENT HOMES

Details
APN 546-090-036
Property Type Land
Sub Type Commercial, Residential
Square Footage 15,229
Units 80
Pro-Forma Cap Rate 69.76%
Pro-Forma NOI $1,639,321
Broker Co-Op Yes
Year Built 2025
Acreage 6.220
Zoning Multifamily
Ownership Fee
Sale Condition Distressed

6.22 Acre Multifamily Development Site | 80 Units | Fully Entitled* | Only $26.84/SF

Marketing description

Mark Bridge at Matthews and C4 Commercial, as the exclusive listing agents, are pleased to present the opportunity to acquire Winston Court Apartment Homes, a fully entitled* ±6.22-acre multifamily development site in the growing Inland Empire city of Hemet, California. This project is entitled for 80 apartment units within a gated, garden-style community, providing a rare opportunity for development in a market with strong rental demand and limited new supply.

All entitlements have been secured, significantly reducing development risks and timelines. This offering includes the opportunity to secure the entitlements for site development, including an adopted comprehensive landscape plan, fencing plan, architectural plans, and elevation drawings.

Winston Court’s community plan includes a mix of thoughtfully designed 1-, 2-, and 3-bedroom floor plans distributed across multiple two-story buildings. The site also features a central recreational facility, landscaped open spaces, and private garages—offering residents comfort, convenience, and a strong sense of place.

Strategically located near retail corridors and major employers in the Hemet- San Jacinto Valley, the property benefits from direct access to Florida Avenue (State Route 74), connecting residents to nearby cities, regional employment hubs, and lifestyle amenities. Hemet is home to a growing population and a stable renter demographic, making Winston Court well-positioned to meet ongoing demand for quality rental housing.

With full entitlements ready to be transferred and site planning approvals, Winston Court represents a unique opportunity for multifamily developers to deliver much-needed housing in a market poised for long-term growth. The offering provides immediate entry into Riverside County’s underserved rental market with minimal upfront entitlement work.

*Buyer to negotiate terms for the transfer of entitlement rights with the current holder

Investment highlights

  • Fully Entitled Apartment Development Opportunity | Winston Court is a ±6.22-acre infill development site being delivered fully entitled for an 80-unit gated apartment community. All planning approvals have been secured, including site plan, landscape design, building elevations, and recreational amenities—providing developers with a clear path to construction.

  • Underserved Rental Market with Strong Demand Drivers | Hemet’s growing population, aging housing stock, and limited new apartment deliveries have created strong pent-up demand for high-quality rental housing. Winston Court meets this need with a modern, amenity-rich community offering a mix of 1-, 2-, and 3-bedroom units in a secure, gated setting.

  • Strategic Location in a High-Growth Inland Empire Submarket | The site is located along Florida Avenue (State Route 74), a major arterial road with access to regional job centers in Riverside, Moreno Valley, and Temecula. Proximity to healthcare, education, and public transit makes the location ideal for a diverse tenant base, including professionals, students, and families.

  • Comprehensive Community Design with Modern Amenities | The approved plans include a leasing/recreational building, landscaped open space, and private garages—all contributing to long-term renter appeal and operational efficiency. The thoughtful site design reflects a commitment to quality, community, and livability.

  • Attractive Opportunity in a Supply-Constrained Market | There are few active multifamily development opportunities in Hemet with full entitlements in place. Winston Court represents a rare chance to deliver much-needed housing in one of Southern California’s most competitively priced and fastest-growing submarkets.

Listing Contacts

MB
CA 01316702
Matthews
Listed by Matthews

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Additional Information

Name
David Harrington
License
01320460, 02168060 (CA)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245
Name
Mark Bridge
License
01316702
Brokerage
Matthews REIS
Title
Executive Vice President
Brokerage Address
3161 Michelson Drive
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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