Property Details
About this Property
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 units are renovated and leased at the prevailing market rate, the proforma annual gross income is projected at $108,480 and an exceptional proforma Cap Rate of 11.18%. Situated in Banning, CA, offering proximity to local amenities and potential for tenant demand from the surrounding Inland Empire a
MLS Listing Information
MLS #
CRIG25227871
MLS Source
California Regional MLS
Interior Features
Laundry
None
Cooling
Window/Wall Unit
Heating
No Heating, Wall Furnace
Exterior Features
Roof
Composition
Parking, School, and Other Information
Garage/Parking
Carport, Garage: 0 Car(s)
HOA Fee
$0
Contact Information
Listing Agent
TREVOR CASEY
REGIONCY REAL ESTATE
License #: 02053394
Phone: –
Co-Listing Agent
Nathan Diones
License #: 01767311
Phone: –
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 5 | 2 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
545 N 2nd is a Residential Income in Banning, CA 92220. This – square foot property sits on a 16,553 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $700,000 and was built in 1949. This address can also be written as 545 N 2nd, Banning, CA 92220.
©2026 California Regional MLS. All rights reserved. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from California Regional MLS.
Presently MLSListings.com displays Active, Contingent, Pending, and Recently Sold listings. Recently Sold listings are properties which were sold within the last three years. After that period listings are no longer displayed in MLSListings.com. Pending listings are properties under contract and no longer available for sale. Contingent listings are properties where there is an accepted offer, and seller may be seeking back-up offers. Active listings are available for sale.
This listing information is up-to-date as of March 17, 2026. For the most current information, please contact TREVOR CASEY
