333 N Murray Street

    Banning, CA 92220
    • $675,000
    • STATUS: Active
    • ON SITE: 88 days
    • ID#: CV19175415
    UPDATED: 44 min ago
    $675,000
    • 0
      BEDS
    • 0.28
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,371
      SQFT
    • $200
      $/SQFT
    Type:
    Multi-Family
    Built:
    1930
    County:

    School Ratings & Info

    Description

    We are pleased to present 333 N. Murray Street in the city of Banning. A total of 6 single-story units that are situated on a 12,000+ Sq. Ft. lot. The asset is located just North of Banning City Hall and is in proximity to local shopping/restaurants, transportation, and schools. The property is comprised of two single-family residences and a quadplex located in the rear. The tenants enjoy plenty of onsite and curbed parking all while experiencing privacy on a quiet street. The city of Banning is a developing area with major constructions plans on the horizon. Pardee Homes has been approved for a nearly 5,000 home master-planned community at the northwest edge. All in all, a new investor can take advantage of the future potential while enjoying an 8%+ cash-on-cash return once stabilized.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-20T16:35:26.693. 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 deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
    www.teamforss.com/homes/97207533

    333 N Murray Street Banning, CA 92220

    • Price: $675,000
    • Status: Active
    • Updated: 44 min ago
    • ID#: CV19175415
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.28
    Acres
    3,371
    SQFT
    $200
    $/SQFT
    1930
    Built
    Neighborhood:
    263 - Banning/Beaumont/Cherry Valley
    County:
    Riverside
    Area:
    263 - Banning/Beaumont/Cherry Valley
    Property Description
    We are pleased to present 333 N. Murray Street in the city of Banning. A total of 6 single-story units that are situated on a 12,000+ Sq. Ft. lot. The asset is located just North of Banning City Hall and is in proximity to local shopping/restaurants, transportation, and schools. The property is comprised of two single-family residences and a quadplex located in the rear. The tenants enjoy plenty of onsite and curbed parking all while experiencing privacy on a quiet street. The city of Banning is a developing area with major constructions plans on the horizon. Pardee Homes has been approved for a nearly 5,000 home master-planned community at the northwest edge. All in all, a new investor can take advantage of the future potential while enjoying an 8%+ cash-on-cash return once stabilized.
    Exterior Features

    Garage Spaces 0.00 Lot Features 6-10 Units/AcreLot 10000-19999 Sqft Lot Size Source Assessor Lot Size Units Square Feet Parking Total 8.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 1 Common Wall Laundry Features None

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features CurbsGuttersStreet Lights Country Us Electric Expense 2189.00 Elevation Units Feet Fuel Expense 827.00 Gross Income 58500.00 Gross Operating Income 56745.00 Gross Scheduled Income 58500.00 Insurance Expense 1348.00 Land Lease YN No Laundry YN No Maintenance Expense 2837.00 Net Operating Income 38093.00 New Construction YN No New Taxes Expense 7908.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Operating Expense 18652.00 Other Expense 900.00 Other Expense Description Reserves Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 18886.00 Trash Expense 22.00 Vacancy Allowance 1755 Water Sewer Expense 2620.00 Water Source Public Year Built Source Assessor Zoning R3

    Listing provided courtesy of Kristopher German of Re/Max 2000


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-20T16:35:26.693. 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 deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
     
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