11411 Cherry AVE Cherry Valley, CA 92223
5,178 SqFt
UPDATED:
01/02/2025 12:50 PM
Key Details
Property Type Commercial
Sub Type Commercial/Residential
Listing Status Hold
Purchase Type For Sale
Square Footage 5,178 sqft
Price per Sqft $557
Subdivision Solera (Slra)
MLS Listing ID IV24249923
HOA Y/N No
Year Built 1961
Lot Size 1.860 Acres
Acres 1.86
Property Description
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
Laundry In Garage, Inside
Exterior
Pool None
Community Features Mountainous
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 1
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Special Listing Condition Standard
Confidential INFO
TERMS Owner May Carry,Submit
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE Agent
SHOW INSTRUCTIONS Please using Showingtime with 48 hour notice required.
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