655 E Williams St Banning, CA 92220
Estimated payment $9,303/month
Highlights
- No Units Above
- Laundry Room
- Rectangular Lot
- 0.56 Acre Lot
- Landscaped
- 1-Story Property
About This Home
Excellent opportunity to acquire a multifamily investment property located at 655 E. Williams Street Banning, California. Zero turnover in over two years. The property is conveniently located just north of interstate 10 (I-10) off Hargrave Street. The property is positioned on a 24,394 square foot parcel and encompasses approximately 6,950 square feet of building area. Featuring beautiful mature landscaping enhanced by an automatic irrigation system, contributing to its attractive curb appeal and low-maintenance operation.Constructed in 1951, the 8-unit property consists of a single-story duplex that fronts Williams Street and 6 single-story individual cottages on the north side. The front duplex consists of one-one bedroom/one bathroom unit (approximately 600 S.F.) and one-three bedroom/two-bathroom unit (approximately 1,550 S.F.). The six individual cottages are all two bedroom/one-bathroom units (approximately 800 S.F.). Each apartment is equipped with an in-unit washer/dryer hook-ups, newer windows, private backyards, wall mounted air conditioning, oven/range and refrigerators offering tenants both convenience and comfort. Further enhancing the property’s operational efficiency, all units are individually metered for gas, electricity, trash and individual hot water heaters minimizing owner expenses. The property also offers eleven open parking spaces, low maintenance landscaping and a storage shed for owner’s tools. Given the strong rental location, close to city center and excellent property condition. Banning, California, located in Riverside County, offers a compelling landscape for real estate investors due to its strategic location, steady growth, and pro-investment climate. Nestled in the San Gorgonio Pass between the San Bernardino and San Jacinto Mountains, Banning is ideally situated along Interstate 10, just 90 miles east of Los Angeles and 30 miles west of Palm Springs, making it a key access point between major Southern California markets. The city benefits from excellent public transportation and distribution access, which supports both residential and commercial development. Just minutes away are the Cabazon Outlets and Morongo Casino Resort & Spa, a popular entertainment hub that is currently expanding with a new four-story hotel set to open in 2026, further boosting regional tourism and economic activity.
Listing Agent
MARCUS & MILLICHAP Brokerage Phone: 626-695-6776 Listed on: 04/15/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1951
Lot Details
- 0.56 Acre Lot
- No Units Above
- 1 Common Wall
- Landscaped
- Rectangular Lot
- Sprinkler System
Parking
- 11 Parking Spaces
Home Design
- Apartment
Interior Spaces
- 6,950 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Bathrooms
Laundry
- Laundry Room
- Washer Hookup
Listing and Financial Details
- Legal Lot and Block POR / 162
- Tax Tract Number 442
- Assessor Parcel Number 541110012
- $79 per year additional tax assessments
Community Details
Overview
- 7 Buildings
- 8 Units
- Solera Subdivision
Building Details
- 8 Leased Units
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- Gardener Expense $1,200
- Insurance Expense $7,854
- Maintenance Expense $6,402
- Water Sewer Expense $2,291
- New Taxes Expense $20,391
- Operating Expense $38,183
- Gross Income $128,040
- Net Operating Income $86,061
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/07/2025 05/07/25 | Pending | -- | -- | -- |
| 04/29/2025 04/29/25 | Price Changed | $1,475,000 | -6.1% | $212 / Sq Ft |
| 04/15/2025 04/15/25 | For Sale | $1,570,000 | -- | $226 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV25082931
APN: 541-110-012
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