1420-1424 E Williams St
Banning, CA 92220
Multifamily Property For Sale · 6 Units

You don't see investment opportunities like this often. These units are set in a peaceful park like setting, and have been ugraded beautifully. And you can't beat the location. Right next to city hall and the police department. How's that for security and safety. And these units are within easy walking distance to all shopping and bus stops. These six units consist of two freestanding houses in the front and a 4Plex in the rear. One front house is a a 3 bedroom 2 bath house. The other front house was a 2 bedroom 1 bath house that's been temporarily converted to a 1 bedroom 1 bath due to current tenant's needs. And the rear 4Plex consists of three very large studios, & one 1 bedroom 1 bath.. As you can see from the rent roll attached, month to month actual rents are extremely low. Seller's are older, out of the area, and haven't raised rents in many years. However, they mentioned that they are bombarded with phone calls, with tenants looking for a place to rent. As you can see from the rent roll, market rents are verified by close by rent comps, and specified by address where they can be found on the MLS. What really stands out in this offering is the income you get for the price. At actual rents, this puts out $59,100 annual gross income that produces an impressive 9.73 Gross Rent Multiplier, a above market 7.37% Cap Rate, and an double digit 11.26% Cash on Cash Return. But when you plug in market rents (rent comps specified in rent roll), this puts out stunning $73,800 in annual gross income, an eye opening 7.79 Gross Rent Multiplier, a breathtaking 9.91% Cap Rate, and a robust 21.38% Cash on Cash Return. For the detail on the numbers, please see the rent roll, and actual/market income, expenses, & returns attached. If you are a direct buyer (w/o an agent), seller wants to know in advance since seller get's a commission discount, and thus can give direct buyer's a better deal. Also, my staff and I will take great care of you, every step of the way. So please give us a call at 951-375-7433. And if you are an agent, please correspond through text only, and text us at 951-775-5799. We will text back with status by next day.