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Sold on 07/15/2022
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1420 E Williams St, Banning, CA 92220

$1,490,000

Last sold 07/15/2022 after 78 Days

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    bed

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    bath

Multi-family not for sale
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About 1420 E Williams St

Property type Multi-family
Year built 1960
HOA fee $0/month
Lot size 0.74 Acre
Property description
Fantastic 10-unit apartment building located in the city of Banning. This property consists of two buildings on two lots, offering a great unit mix: (8) two bedroom and one bathroom units & (2) one bedroom and one bath units. The $200k extensive interior and exterior renovation was done over the last 24 months. Some of the upgrades include but are not limited to new kitchens, updated bathrooms, new flooring interior painting, and a resurfaced parking lot. All units are currently below market rents. Each of the units have been updated to varying degrees as tenants have moved out. There is currently a 39% upside on rents. Conveniently located near a major highway and the Morongo Hotel & Casino.
Listed by
Listing Agent - Daniel Escutia
Listing Office - Esen Real Estate Services
Source: CRMLS mls logo
MLS#OC22087408 • last updated 4 years ago
Movoto checked CRMLS for data 3 minutes ago
Overview
Levels/Style One
Type Residential Income
Status Closed
Lot Size (Acres) 0.74
Lot Size (SqFt) 32234
Year Built 1960
Interior
Laundry None
Exterior
Building Area Square Feet, 7560
Parking Asphalt, Gated
# Uncovered Spaces 15
# Parking Spaces 15
Lot Description 6-10 Units/Acre, Back Yard, Lot 20000-39999 Sqft, Rectangular Lot
Amenities / Utilities
Sewer/ Septic Public Sewer
Water Source Public
Pool None
Location
View Mountain(s)
County Riverside
Community Features Curbs, Mountainous, Street Lights
Zoning R3
Directions E. Williams St / N Evans Street
APN 541170026
Multifamily Details
Vacancy Allowance Rate 3
Vacancy Allowance 4500
Cap Rate 6.21
Gross Income 107400
Gross Multiplier 11
Gross Scheduled Income 150000
  • Jul 2022
    mls logo MLS # OC22087408
  • Jul 15, 2022 Sold
    $1,490,000
  • May 9, 2022 Price Change
    $1,650,000 (-2.9%)
  • Apr 28, 2022 Listed
    $1,700,000
  • Jul 2022
    Public Records
  • Jul 12, 2022 Sold
    $1,490,000 (-9.7%)
  • Year Property taxes Tax assessment
  • 2024
    $10,503 +0.1%
    $775,096 +2.0%
  • 2023
    $10,495 +55.1%
    $759,899 +58.57%
  • 2022
    $6,767 +2.0%
    $479,213 +2.0%
  • 2021
    $6,636 +9.8%
    $469,817 +10.14%
  • 2020
    $6,044
    $426,564
  • 1420 E Williams St
    $1.49M
  • —
  • 92220
    $469K +5% y/y
  • Banning
    $469K +5% y/y
No chart available
Statistics calculated by Movoto

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4/10
Banning High School
public Grades 9-12
Banning Unified School District
Source: GreatSchools.org © 2026. All rights reserved.

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CRMLS Multiple Listing Service™ system
The real estate listing data marked with this icon comes from the IDX program of the CRMLS Multiple Listing Service™ system.
Based on information from California Regional Multiple Listing Service, Inc. as of 11/12/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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