About this home

We found 3 Cons,6 Pros. Rank: price - $600.0K(92th), sqft - 2200(84th), beds - 6(99th), baths - 6(100th).

Exceptional investment opportunity in the heart of Banning, CA! This unique property features FOUR separate income-producing structures on one spacious lot — two 2-bedroom, 1-bathroom units and two 1-bedroom, 1-bathroom units. Whether you're looking to build your rental portfolio, create a multi-generational living setup, or live in one and rent the others, the possibilities are endless. Each unit offers its own private entrance and yard space, ideal for tenant privacy and comfort. The property is conveniently located near shopping, schools, freeway access, and just minutes from the expanding Downtown Banning area. With strong rental potential and a layout perfectly suited for maximizing cash flow, this property is a rare find. Don’t miss out on this versatile and high-demand investment! NEIGHBORING PROPERTY CAN ALSO BE INCLUDED - SEE SW25135253. DON'T MISS OUT.

Condition Rating

Poor

Built in 1964, this property is 60 years old with no indication of recent major renovations. The exterior images show a dated appearance with worn windows, basic stucco, and unkempt landscaping, suggesting significant deferred maintenance. While functional as an income property, the age and lack of updates imply that major systems (electrical, plumbing, HVAC) and aesthetics likely require substantial repairs and rehabilitation to meet modern standards, aligning with the 'poor' condition criteria.

Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 19602, living area = 2200.

Exceptional Income-Generating Asset: The property features four separate income-producing structures (two 2-bedroom, 1-bathroom units and two 1-bedroom, 1-bathroom units) on one lot, offering diversified rental income streams and flexibility for investors or multi-generational living.

Spacious Lot with Tenant Privacy: A large 19,602 sqft lot provides ample space, allowing for private entrances and individual yard spaces for each unit, which enhances tenant appeal and comfort.

Strategic Location for Growth: Conveniently located near shopping, schools, freeway access, and just minutes from the expanding Downtown Banning area, promising potential for tenant demand and property value appreciation.

High Cash Flow Potential: The property is explicitly marketed for its strong rental potential and a layout optimized for maximizing cash flow, making it highly attractive to investors.

Mountain Views: The property offers desirable mountain views, adding aesthetic value and contributing to overall property appeal and tenant satisfaction.

Cons

Age of Construction (1964): Built in 1964, the property may require significant updates to systems (electrical, plumbing, HVAC) and aesthetics to meet modern tenant expectations and reduce future maintenance liabilities.

Compact Individual Unit Sizes: With 2200 sqft distributed among four units, the individual living spaces are likely small, potentially limiting the target tenant demographic or achievable rental rates compared to properties with larger units.

Potential for Higher Maintenance & Operating Costs: As an older multi-unit property, it typically incurs higher ongoing maintenance and repair expenses, which could impact net operating income for investors.

About this home

Pros

Cons

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688 W Nicolet Street, Banning, California 92220, Banning, 92220 - 6 bed, 6 bath

About this home

Pros

Cons

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI