545 N 2nd, Banning, CA 92220

Banning
Local realty services provided by:ERA Carlile Realty Group
545 N 2nd,Banning, CA 92220
$699,000
  • - Beds
  • - Baths
  • 3,090 sq. ft.
  • Multi-family
  • Pending
Listed by: trevor casey, nathan diones
Office: regioncy real estate
MLS#:IG25227871
Source:CRMLS

Price summary

  • Price:$699,000
  • Price per sq. ft.:$226.21

About this home

This six-unit multifamily property at 545 N 2nd St, Banning, CA, presents an exceptional value-add opportunity for investors seeking strong returns and significant upside potential in a growing market. The property consists entirely of (6) 1-bedroom, 1-bathroom units, all of which are individually metered for gas and electric, providing ease of management and lower owner expenses. The building offers an immediate pathway to increased income: Current Occupancy: 2 units are currently rented at $1,540 each, generating a total Gross Monthly Income of $3,080. Immediate Vacancy Fill: Two existing units are vacant and ready to be filled. By leasing these at the current market rate of $1,540 per month, the investor can achieve a current Cap Rate of ±6.83% (based on a hypothetical purchase price). 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

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Home facts

  • Year built:1949
  • Listing ID #:IG25227871
  • Added:158 day(s) ago
  • Updated:March 07, 2026 at 08:35 AM

Rooms and interior

  • Flooring:Vinyl
  • Living area:3,090 sq. ft.

Heating and cooling

  • Cooling:Wall Window Units
  • Heating:Wall Furnance

Structure and exterior

  • Roof:Composition
  • Year built:1949
  • Building area:3,090 sq. ft.
  • Lot area:0.38 Acres
  • Levels:1 Story

Utilities

  • Water:Public, Water Connected
  • Sewer:Public Sewer, Sewer Connected

Finances and disclosures

  • Price:$699,000
  • Price per sq. ft.:$226.21
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