Residential Income
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 Market2
Property Features for 162 N 3rd
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 2, Laundry Room
- 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
10681 Foothill Blvd. #140A, Rancho Cucamonga, CA
Listed by
Arturo Hernandez · License #01745501
(909) 638-7303
Added: Jul 16 Checked: Jul 17 at 5:06 pm
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 for-sale residential income duplex is situated on a 0.14-acre lot and offers 1,252 square feet of total building area. It presents as a straightforward income property configuration within a compact footprint.
The property is located at 162 N 3rd in Banning, in Riverside County, California (92220). The listing price is $399,900.
The property is located at 162 N 3rd in Banning, in Riverside County, California (92220). The listing price is $399,900.
Key Highlights
- Built in 1915
- 3 bedrooms plus 2 bathrooms
- Includes a laundry room
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
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - For sale residential income duplex on a 0.14-acre lot in Banning, California, totaling 1,252 square feet.
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: Built in 1915; 3 bedrooms plus 2 bathrooms; Includes a laundry room
