11411 Cherry Avenue, Cherry Valley, CA 92223
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- MLS#: IV24249923 ( Commercial/Residential )
- Street Address: 11411 Cherry Avenue
- Viewed: 1
- Price: $2,888,888
- Price sqft: $0
- Waterfront: No
- Year Built: 1961
- Bldg sqft: 0
- Days On Market: 5
- Additional Information
- County: RIVERSIDE
- City: Cherry Valley
- Zipcode: 92223
- Subdivision: Solera (slra)
- Provided by: RE/MAX TIME REALTY
- Contact: ROBERT ROBERT
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DescriptionIncredible 7 Unit Investment Opportunity 11411 Cherry Ave., Banning, CA Attention seasoned investors! Dont 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. Bannings growing economy and proximity to major highways, retail, and amenities make this property highly attractive to tenants. With Riverside Countys strong rental demand, this property is poised to remain a steady income generator for years to come. Whether youre 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!
Property Location and Similar Properties
Features
Building Area Total
- 5178.00
Commoninterest
- Community Apartment
Common Walls
- 2+ Common Walls
Cooling
- Central Air
Country
- US
Days On Market
- 89
Electric Expense
- 0.00
Entry Location
- First floor
Fuel Expense
- 0.00
Garage Spaces
- 0.00
Heating
- Central
Insurance Expense
- 0.00
Laundry Features
- In Garage
- Inside
Levels
- One
Lot Features
- 16-20 Units/Acre
Netoperatingincome
- 15350.00
Parcel Number
- 404131025
Pool Features
- None
Postalcodeplus4
- 4723
Professionalmanagementexpense
- 0.00
Property Type
- Commercial/Residential
Sewer
- Public Sewer
Sourcesystemid
- CRM
Sourcesystemkey
- 428753623:CRM
Subdivision Name Other
- Solera (SLRA)
Totalexpenses
- 2400.00
Trash Expense
- 0.00
Water Sewer Expense
- 2400.00
Water Source
- Public
Year Built
- 1961
Year Built Source
- Assessor
Zoning
- R-2