Listed by ROBERT WATKINS • RE/MAX TIME REALTY
$2,888,888
Est. payment /mo
1.86 Acres Lot
Active
11411 Cherry AVE Cherry Valley, CA 92223
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRIV24249923
Originating Board California Regional MLS
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
Location
State CA
County Riverside
Area 263 - Banning/Beaumont/Cherry Valley
Interior
Heating Central Forced Air
Cooling Central AC
Laundry In Garage, Other
Exterior
Pool None
Building
Story One Story
Water District - Public
Others
Tax ID 404131025
Special Listing Condition Not Applicable
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