Duplex With Private Outdoor
162 N 3rd Banning, CA 92220
New
162 N 3rd, Banning, CA, 92220
$399,900
For Sale
$399,900
MULTI_FAMILY - Banning, CA
Property Size1,252 SF
Lot Size0.14 Acres
Price / SF$319.41
Days on Market6
Property Features for 162 N 3rd
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 2, Laundry Room, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 3
- Parking
- 2
- Standard status
- Active
- APN
- 540162013
- Size
- 1,252 SF
- Lot size
- 0.14 Acres
Utilities
- Sewer type
- Public Sewer
- Cooling system
- Wall/Window Unit(s), Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1915
- Floors in Building
- 1
- Number of units
- 2
Listing agency
REALTY MASTERS & ASSOCIATES
(909) 303-4500
Listed by
Arturo Hernandez · License #01745501
(909) 638-7303
Added: Jul 16 Updated: Jul 21 at 4:34AM Checked: Jul 21 at 9:06PM
MLS# CV26150080
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex at 162 N 3rd in Banning offers two separate residential units with individual electric and gas meters. The front unit features one bedroom and one bathroom, along with a private fenced front yard, four dedicated parking spaces, and an extended driveway for convenient off-street parking.
The rear unit is configured as two bedrooms and one bathroom and includes its own private outdoor area. Parking is accommodated with ample space, and a long driveway runs from the front of the property through to the rear easement to support easy access throughout.
Additional improvements include a detached laundry room in a separate structure and a detached two-car garage that can provide further storage and parking options. The entire property sits on a fully fenced lot, creating a defined, private setting for each unit.
The rear unit is configured as two bedrooms and one bathroom and includes its own private outdoor area. Parking is accommodated with ample space, and a long driveway runs from the front of the property through to the rear easement to support easy access throughout.
Additional improvements include a detached laundry room in a separate structure and a detached two-car garage that can provide further storage and parking options. The entire property sits on a fully fenced lot, creating a defined, private setting for each unit.
Key Highlights
- Versatile duplex built in 1915 with public water and public sewer
- Two separate units with individual electric and gas meters
- Front unit: 1 bedroom, 1 bathroom with private fenced front yard and 4 dedicated parking spaces
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.0k | $25.56 |
| − Vacancy | −$576 | −$0.46 |
| EGI | $31.4k | $25.10 |
| − OpEx | −$9.4k | −$7.53 |
| NOI | $22.0k | $17.57 |
1,252 SF · lease $25.56/SF/yr · vacancy 1.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$314.3K
$275.0K – $366.6K
NOI $21,998 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$289.5K
$253.3K – $337.8K
NOI $20,265 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$375.1K
$328.2K – $437.6K
NOI $26,255 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two-unit duplex with separate electric and gas meters, private outdoor spaces, and multiple parking areas on a fully fenced lot.
Where is this duplex located?
The property is located at 162 N 3rd Banning, CA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Versatile duplex built in 1915 with public water and public sewer; Two separate units with individual electric and gas meters; Front unit: 1 bedroom, 1 bathroom with private fenced front yard and 4 dedicated parking spaces
