$1,650,000
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0.74 Acres Lot
SOLD DATE : 07/15/2022
Key Details
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OC22087408
Sold Date 07/15/22
HOA Y/N No
Year Built 1960
Lot Size 0.740 Acres
Property Description
Fantastic 10-unit apartment building located in the city of Banning. This property consists of two buildings on two lots, offering a great unit mix: (8) two bedroom and one bathroom units & (2) one bedroom and one bath units. The $200k extensive interior and exterior renovation was done over the last 24 months. Some of the upgrades include but are not limited to new kitchens, updated bathrooms, new flooring interior painting, and a resurfaced parking lot. All units are currently below market rents. Each of the units have been updated to varying degrees as tenants have moved out. There is currently a 39% upside on rents. Conveniently located near a major highway and the Morongo Hotel & Casino.
Location
State CA
County Riverside
Area 263 - Banning/Beaumont/Cherry Valley
Zoning R3
Interior
Fireplace No
Laundry None
Exterior
Parking Features Asphalt, Gated
Pool None
Community Features Curbs, Mountainous, Street Lights
View Y/N Yes
View Mountain(s)
Roof Type Composition,Shingle
Total Parking Spaces 15
Private Pool No
Building
Lot Description 6-10 Units/Acre, Back Yard, Rectangular Lot
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 541170026
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with David Covarrubias • MARCUS & MILLICHAP