Arnold Galvan
Equity Union
(760) 278-7841
37 Total Sales
3 in Banning
$435,000 Price Range
545 N 2nd St Banning, CA 92220
Banning Area
6
Beds
6
Baths
3,090
Sq Ft
0.38
Acre Lot
Highlights
- 0.38 Acre Lot
- Cooling System Mounted To A Wall/Window
- Foothills
- No HOA
- Park
- Bike Trail
About This Home
As of March 2026This 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 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.
Last Agent to Sell the Property
REGIONCY REAL ESTATE Brokerage Phone: 909-754-0650 License #02053394 Listed on: 09/29/2025
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1949
Lot Details
- 16,553 Sq Ft Lot
- 1 Common Wall
- Security Fence
- Wrought Iron Fence
- Density is 6-10 Units/Acre
Home Design
- Property Attached
- Entry on the 1st floor
- Composition Roof
Interior Spaces
- 3,090 Sq Ft Home
- 1-Story Property
- Vinyl Flooring
Bedrooms and Bathrooms
- 6 Bedrooms
- 6 Bathrooms
Parking
- 5 Parking Spaces
- 5 Carport Spaces
- Parking Available
Outdoor Features
- Exterior Lighting
Utilities
- Cooling System Mounted To A Wall/Window
- Wall Furnace
Listing and Financial Details
- Tenant pays for gas, electricity
- Legal Lot and Block 4 / 225
- Tax Tract Number 2341
- Assessor Parcel Number 540082003
- $73 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 5 Buildings
- 6 Units
- Foothills
- Mountainous Community
Recreation
- Park
- Bike Trail
Building Details
- 2 Leased Units
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $1,200
- Insurance Expense $2,400
- Trash Expense $2,400
- Water Sewer Expense $2,731
- New Taxes Expense $9,815
- Operating Expense $18,639
- Gross Income $73,920
- Net Operating Income $85,617
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Banning, CA
-
Arnold Galvan
-
Sue Dearing
Sue Dearing
Keller Williams High Desert
(442) 219-7432
176 Total Sales
2 in Banning
$411,000 Price Range
-
Reina Melgoza
Reina Melgoza
Real Broker
(442) 237-5075
8 Total Sales
1 in Banning
$132,000 Price
-
Edna Brooks
Edna Brooks
Responds Quickly(951) 261-5961
8 Total Sales
2 in Banning
$194,000 Price Range
-
Andrissa Noriega
Andrissa Noriega
DYNASTY REAL ESTATE
(909) 765-1211
50 Total Sales
2 in Banning
$450,000 Price Range
-
James Olvera
James Olvera
eXp of Greater Los Angeles
(909) 487-1514
37 Total Sales
2 in Banning
$310K - $360K Price Range
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/16/2026 03/16/26 | Sold | $700,000 | +0.1% | $227 / Sq Ft |
| 02/10/2026 02/10/26 | Pending | -- | -- | -- |
| 01/15/2026 01/15/26 | Price Changed | $699,000 | -7.4% | $226 / Sq Ft |
| 01/12/2026 01/12/26 | For Sale | $755,000 | +7.9% | $244 / Sq Ft |
| 12/26/2025 12/26/25 | Off Market | $700,000 | -- | -- |
| 09/29/2025 09/29/25 | For Sale | $755,000 | -- | $244 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Agents Affiliated with this Home
-
Trevor Casey
Seller's Agent in 2026
Trevor Casey
REGIONCY REAL ESTATE
(909) 307-0616
15 Total Sales
-
Nathan Diones
Seller Co-Listing Agent in 2026
Nathan Diones
REGIONCY REAL ESTATE
(909) 709-3781
14 Total Sales
-
Marisela Labastida, JD
Buyer's Agent in 2026
Marisela Labastida, JD
MARISELA LABASTIDA BROKER
(951) 452-7596
57 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: IG25227871
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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