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545 N 2nd, Banning, CA 92220

Local realty services provided by:CENTURY 21 Classic Estates
545 N 2nd,Banning, CA 92220
$699,000
  • - Beds
  • - Baths
  • 3,090 sq. ft.
  • Multi-family
  • Active
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:136 day(s) ago
  • Updated:February 11, 2026 at 05:32 AM

Rooms and interior

  • 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

Utilities

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

Finances and disclosures

  • Price:$699,000
  • Price per sq. ft.:$226.21
The information being provided by California Regional MLS (Southern California) is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS (Southern California). CENTURY 21 Classic Estates is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of CENTURY 21 Classic Estates, a broker participant of California Regional MLS (Southern California). This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, including but not limited to open house information, square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by California Regional MLS (Southern California) and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2021 California Regional MLS (Southern California). All rights reserved.

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