NOT LISTED FOR SALE

86 N 3rd St Banning, CA 92220

3 Beds
3 Baths
16,907 Sq Ft
0.67 Acres

Last Sold April 26, 2016

Last sale price $1,400,000 $83 Per Sq Ft

35 Days on Market

Highlights

  • In Ground Pool
  • Corner Lot
  • Laundry Room
  • 0.67 Acre Lot
  • No HOA
  • Wall Furnace

About This Home

As of April 2016

This residential income property features 7 buildings with 31 total units. All units have garbage disposals and ovens. The complex is situated on a corner lot. Complex has good location being walking distance to Cineplex, several local businesses, restaurants, Repplier and Carpenter Hamilton Parks, Nicolet Middle School and Banning High school. The complex has a pool. Gas and electricity are centrally metered.

This sale includes 86 N. Third, 238 W. Hays, and a vacant lot.
3 APNs include:
540-166-003-3
540-162-010-7
540-166-002-2

Vacant lot across the street is 5,850 SQ. FT.

Last Agent to Sell the Property

Ophira Lenhert

OSL Inc License #00552202 Listed on: 03/16/2016

Last Buyer's Agent

Mike Nijjar

MZ BROKERAGE INC. License #00578160

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1956

Lot Details

  • 0.67 Acre Lot
  • No Common Walls
  • Corner Lot
  • Density is up to 1 Unit/Acre

Home Design

  • 16,907 Sq Ft Home

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Additional Features

  • Laundry Room
  • In Ground Pool
  • Suburban Location
  • Wall Furnace

Listing and Financial Details

  • Tax Tract Number 441
  • Assessor Parcel Number 540166002

Community Details

Overview

  • No Home Owners Association
  • 7 Buildings
  • 31 Units

Amenities

  • Laundry Facilities

Building Details

  • Electric Expense $18,000
  • Insurance Expense $4,258
  • Maintenance Expense $6,500
  • Pest Control $3,600
  • Pool Expense $2,410
  • Professional Management Expense $13,000
  • Supplies Expense $15,000
  • Trash Expense $6,000
  • Water Sewer Expense $5,000
  • New Taxes Expense $7,275
  • Gross Income $20,260
  • Net Operating Income $148,059

Property Details

Home Type

Multi-Family

Year Built

Built in 1956

Lot Details

0

Listing Details

  • CapRate: 9.90
  • Professional Management Expense: 13000.00
  • Property Attached: No
  • Supplies Expense: 15000.00
  • Water Sewer Expenses: 5000.00
  • Property Type: Residential Income
  • Parcel Number: 540166002
  • Year Built: 1956
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 82.81

Exterior Features

  • Pool Expense: 2410.00
  • Pool Features: In Ground
  • Pool Private: Yes

Utilities

  • Utilities: Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Pest Control Expense: 3600.00
  • Trash Expense: 6000.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Suburban

Lot Info

  • Lot Features: 0-1 Unit/Acre, Corner Lot
  • Lot Size Sq Ft: 29250.00
  • Price Per Lot Square Foot: 47.86
  • Lot Size Acres: 0.6710

Multi Family

  • Electric Expense: 18000.00
  • Gross Income: 20260.00
  • Gross Scheduled Income: 243120.00
  • Insurance Expense: 4258.00
  • Lot Size Area: 29250.0000 Square Feet
  • Maintenance Expense: 6500.00
  • Net Operating Income: 148059.00
  • Number Of Units Total: 31
  • Operating Expense: 88983.00
  • Rent Control: No
  • Vacancy Allowance: 6078

Tax Info

  • New Taxes Expense: 7275.00
  • Tax Lot: 0000
  • Tax Tract Number: 0441.0

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/26/2016 04/26/16 Sold $1,400,000 -17.9% $83 / Sq Ft
04/01/2016 04/01/16 Pending -- -- --
02/26/2016 02/26/16 For Sale $1,705,000 -- $101 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • O

    Seller's Agent in 2016

    Ophira Lenhert

    OSL Inc

    (949) 281-9122

    1 Total Sale

    Ophira Lenhert
    Section Image

  • M

    Buyer's Agent in 2016

    Mike Nijjar

    MZ BROKERAGE INC.

    (626) 575-0062

    1 Total Sale

    Mike Nijjar
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC16041544

California Regional Multiple Listing Service (CRMLS)

APN: 540-166-003

California Riverside County Banning 92220

86 N 3rd St, Banning, CA

This home is located at 86 N 3rd St, Banning, CA 92220 since 16 March 2016. This property was built in 1956. 86 N 3rd St is a home located in Riverside County with nearby schools including Banning High School.

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California Regional Multiple Listing Service (CRMLS) 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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