James Vega
Real Estate Mavens
(833) 919-2795
94 Total Sales
4 in Banning
$325K - $395K Price Range
655 E Williams St Banning, CA 92220
Banning Area
6
Beds
4
Baths
6,950
Sq Ft
0.56
Acre Lot
Highlights
- No Units Above
- Landscaped
- Rectangular Lot
- 0.56 Acre Lot
- Laundry Facilities
- 1-Story Property
About This Home
As of July 2025Excellent 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.
Last Agent to Sell the Property
MARCUS & MILLICHAP Brokerage Phone: 626-695-6776 Listed on: 04/15/2025
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1951
Lot Details
- 24,394 Sq Ft Lot
- No Units Above
- 1 Common Wall
- Landscaped
- Rectangular Lot
- Sprinkler System
Parking
- 11 Parking Spaces
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 6,950 Sq Ft Home
- 1-Story Property
- Washer Hookup
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Bathrooms
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
Amenities
- Laundry Facilities
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
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Banning, CA
-
James Vega
-
John Nicols
John Nicols
Nicols Real Estate and Loans, Inc
(657) 332-0825
38 Total Sales
1 in Banning
$325,000 Price
-
RANA ALHILO
RANA ALHILO
Anomaly Real Estate
(951) 749-6602
48 Total Sales
2 in Banning
$480,000 Price Range
-
Richard Valderrama Calle
Richard Valderrama Calle
The Dara Group Inc.
(747) 250-7467
44 Total Sales
1 in Banning
$437,000 Price
-
Arnold Galvan
Arnold Galvan
Equity Union
(760) 278-7841
38 Total Sales
3 in Banning
$435,000 Price Range
-
Sue Dearing
Sue Dearing
Keller Williams High Desert
(442) 219-7432
178 Total Sales
2 in Banning
$411,000 Price Range
Purchase 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 | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $1,375,000 | First American Title Insurance | ||
| Dale Property Group Llc | $500,000 | Fnt | |
| Galvan Noemi | $290,000 | Stewart Title Of California | |
| City National Bank | $349,600 | Orange Coast Title | |
| Muro Macario Ruben | -- | -- | |
| Muro Marcario Ruben | $675,000 | Investors Title Company | |
| Goldtibs Inc | $627,000 | Fidelity National Title | |
| Sga Investments Llc | $429,000 | Gateway Title Company Colton |
Source: Public Records
Mortgage 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 | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $828,000 | ||
| Previous Owner | Dale Property Group Llc | $337,500 | |
| Previous Owner | Galvan Noemi | $145,000 | |
| Previous Owner | Muro Marcario Ruben | $420,000 | |
| Previous Owner | Sga Investments Llc | $279,000 |
Source: Public Records
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 |
|---|---|---|---|---|
| 07/07/2025 07/07/25 | Sold | $1,375,000 | -6.8% | $198 / Sq Ft |
| 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)
Tax 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.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $8,550 | $1,375,000 | $345,000 | $1,030,000 |
| 2025 | $8,363 | $615,698 | $172,392 | $443,306 |
| 2023 | $8,363 | $591,792 | $165,699 | $426,093 |
| 2022 | $8,182 | $580,189 | $162,450 | $417,739 |
| 2021 | $8,025 | $568,814 | $159,265 | $409,549 |
| 2020 | $7,959 | $562,982 | $157,632 | $405,350 |
| 2019 | $7,835 | $551,944 | $154,542 | $397,402 |
| 2018 | $7,787 | $541,122 | $151,512 | $389,610 |
| 2017 | $7,663 | $530,513 | $148,542 | $381,971 |
| 2016 | $7,286 | $520,112 | $145,630 | $374,482 |
| 2015 | $7,183 | $512,302 | $143,444 | $368,858 |
| 2014 | $7,138 | $502,269 | $140,635 | $361,634 |
Source: Public Records
Agents Affiliated with this Home
-
Douglas McCauley
Seller's Agent in 2025
Douglas McCauley
MARCUS & MILLICHAP
(909) 456-3493
56 Total Sales
-
David Covarrubias
Seller Co-Listing Agent in 2025
David Covarrubias
MARCUS & MILLICHAP
(909) 456-3400
59 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV25082931
APN: 541-110-012
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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