Cherry Valley CA Multi Family for Sale
$2,888,888
11411 Cherry Avenue Cherry Valley, CA 92223
- Type:
- Other
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 1.86 Acres
- Year built:
- 1961
- Baths:
- MLS#:
- CRIV24249923
View additional info
Courtesy: RE/MAX TIME REALTY
ADDITIONAL INFORMATION
Incredible 7-Unit Investment Opportunity – 11411 Cherry Ave., Banning, CA 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.
Cherry Valley Real Estate
The median home value in Cherry Valley, CA is $428,000. This is lower than the county median home value of $536,000. The national median home value is $338,100. The average price of homes sold in Cherry Valley, CA is $428,000. Approximately 77.73% of Cherry Valley homes are owned, compared to 15.36% rented, while 6.92% are vacant. Cherry Valley real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Cherry Valley real estate agent to arrange a tour today!
Cherry Valley, California has a population of 7,749. Cherry Valley is less family-centric than the surrounding county with 25.59% of the households containing married families with children. The county average for households married with children is 35.14%.
The median household income in Cherry Valley, California is $77,273. The median household income for the surrounding county is $76,066 compared to the national median of $69,021. The median age of people living in Cherry Valley is 50.2 years.
Cherry Valley Weather
The average high temperature in July is 97.7 degrees, with an average low temperature in January of 39.4 degrees. The average rainfall is approximately 22.6 inches per year, with 0.7 inches of snow per year.