545 N 2nd Banning, CA 92220
0.38 Acres Lot
UPDATED:
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Wilson
MLS Listing ID IG25227871
HOA Y/N No
Year Built 1949
Lot Size 0.380 Acres
Property Sub-Type Mixed Use
Property Description
The significant value-add component lies in the rear two units: Rehabilitation Opportunity: Two units in the rear of the property are fire-damaged and require rehabilitation. Once all six units are renovated and leased at the prevailing market rate, the proforma annual gross income is projected at $108,480 and an exceptional proforma Cap Rate of 11.18%.
Situated in Banning, CA, offering proximity to local amenities and potential for tenant demand from the surrounding Inland Empire area. Ideal for investors looking to execute a clear Rehab and Stabilize strategy to maximize equity and cash flow.
Location
State CA
County Riverside
Area 263 - Banning/Beaumont/Cherry Valley
Interior
Heating None, Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Vinyl
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Pool None
Community Features Biking, Curbs, Foothills, Mountainous, Park, Storm Drain(s), Street Lights, Sidewalks
Utilities Available Electricity Available, Sewer Connected, Water Connected
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 540082003
Acceptable Financing Cash, 1031 Exchange
Listing Terms Cash, 1031 Exchange
Special Listing Condition Trust
