Keegan Cin | Realtor® | License # DRE 01971604

Property

Banning, CA 92220 655 E Williams Street

655 E Williams Street Banning, CA - Image 1655 E Williams Street Banning, CA - Image 2655 E Williams Street Banning, CA - Image 3
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655 E Williams Street Banning, CA - Image 4655 E Williams Street Banning, CA - Image 5
Presented By: Douglas McCauley with MARCUS & MILLICHAP; 626-695-6776
  • MLS# CV25082931
  • 04/15/2025
  • Request Tour
  • Request Info
  • Beds • 1
  • Baths • 1
  • SQFT • 6,600
  • Year Built • 1951

Home Details

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 6,600 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 1,200 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.
Presented By: Douglas McCauley with MARCUS & MILLICHAP; 626-695-6776

Interior Features for 655 E Williams Street

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsOneCommonWall, NoOneAbove
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesWasherHookup
Total Stories1

Other Rooms

Entry Level1

General for 655 E Williams Street

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.4
Carport Y/NNo
CityBanning
Community FeaturesSidewalks
CountyRiverside
DirectionsLocated just north of interstate 10 (I-10) off Hargrave Street
Electric Expense0.0
Electric On Property Y/NNo
Entry LocationDrive By
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income128040.0
HOANo
Home Warranty Y/NNo
Insurance Expense7854.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsOne
Listing TermsCash, CashToNewLoan
Lot Size Square Feet24394.0
Lot Size UnitsSquareFeet
MLS Area263 - Banning/Beaumont/Cherry Valley
MaintenanceExpense6402.0
MobileHomeRemainsYNNo
Net Operating Income84748.0
New ConstructionNo
Number Of Units Total8
Number of Units Leased8
Operating Expense39451.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories1
Subdivision NameSolera (SLRA)
Tax LotPOR
Taxes$21,704
Trash Expense0.0
Water Sewer Expense2291.0
Waterfront Y/NNo
Year Built1951
Year Built SourcePublicRecords
ZoningR3

Exterior for 655 E Williams Street

Building Area Total6600.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesLandscaped, RectangularLot, SprinklerSystem
Lot Size Acres0.56
Lot Size Area24394.0
Lot Size SourceAssessor
Number of Buildings7
Number of Separate Electric Meters8
Number of Separate Gas Meters8
Number of Separate Water Meters0
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking11.0
Water SourcePublic

Additional Details

Price History

Justin Hughey

Price $1,570,000
MLS#CV25082931
List Date 04/15/2025
Property Type Multi-Family
Request Tour
Request Info

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