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Listed by ROBERT WATKINS • RE/MAX TIME REALTY
$ 2,888,888
Est. payment /mo
New
11411 Cherry Avenue Cherry Valley, CA 92223
5,178 SqFt
UPDATED:
12/18/2024 01:17 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,178 sqft
Price per Sqft $557
MLS Listing ID CRIV24249923
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1961
Lot Size 1.860 Acres
Property Description
Incredible 7-Unit Investment Opportunity – 11411 Cherry Ave., Banning, CA Attention seasoned investors! Don’t miss this rare chance to acquire a cash-flowing, turn-key 7-unit property in the growing city of Banning. Located in the heart of Riverside County, this property offers a mix of spacious units catering to a diverse tenant base: 1 unit with 4 bedrooms and 2 bathrooms 6 units ranging from 3 bedrooms and 1 bathroom to 2 bedrooms and 1 bathroom With a monthly gross rent of $18,700, this property is a high-yield investment designed for immediate returns. The units have been recently remodeled, eliminating the need for any upfront renovation expenses. This ensures a smooth transition for the new owner with minimal effort required to maintain its current profitability. For investors looking to structure a competitive deal, the seller is offering flexible financing options, including carrying a note at a competitive rate. These terms provide ample opportunities to make the numbers work and maximize returns on investment. Banning’s growing economy and proximity to major highways, retail, and amenities make this property highly attractive to tenants. With Riverside County’s strong rental demand, this property is poised to remain a steady income-generator for years to come.
Location
State CA
County Riverside
Interior
Heating Other
Cooling Central Air
Fireplace No
Laundry In Garage, Inside
Building
Water Public
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