$2,888,888
Est. payment /mo
1.86 Acres Lot
New
11411 Cherry AVE Cherry Valley, CA 92223
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UPDATED:
12/17/2024 05:30 PM
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Solera (Slra)
MLS Listing ID IV24249923
HOA Y/N No
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.
Whether you're expanding your portfolio or looking for a secure investment with immediate cash flow, 11411 Cherry Ave. is a no-brainer. A fully remodeled, high-income property with built-in financing options is a rare find. Act now to secure this incredible opportunity!
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.
Whether you're expanding your portfolio or looking for a secure investment with immediate cash flow, 11411 Cherry Ave. is a no-brainer. A fully remodeled, high-income property with built-in financing options is a rare find. Act now to secure this incredible opportunity!
Location
State CA
County Riverside
Area 263 - Banning/Beaumont/Cherry Valley
Zoning R-2
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry Inside, In Garage
Exterior
Pool None
Community Features Mountainous
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 404131025
Acceptable Financing Owner May Carry, Submit
Listing Terms Owner May Carry, Submit
Special Listing Condition Standard
Listed by ROBERT WATKINS • RE/MAX TIME REALTY • 909-205-5848
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