545 N 2nd, Banning, CA 92220

Local realty services provided by:Better Homes and Gardens Real Estate Clarity
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:144 day(s) ago
  • Updated:February 21, 2026 at 02:20 PM

Rooms and interior

  • Living area:3,090 sq. ft.

Heating and cooling

  • Cooling:Wall Window Units
  • Heating:Wall Furnace

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
Based on information from California Regional Multiple Listing Service, Inc. as of February 21, 2026 . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

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