Six-Unit Multifamily
For Sale
$1,095,000
333 North Murray Street, Banning, CA 92220
Unit mix includes studios and one- and two-bedroom apartments.
Property Size4,790 SF
Days on Market20
Property Features for 333 North Murray Street
General Information
Standard status
Active
Size
4,790 SF
Property subtype
Multi-Family
Building Details
Building Size
4,790 SF
Listing Agency:
KW Commercial | SIG Commercial
Listed By:
Jag Singh
Source:
Commercialcafe
Added: Aug 21
Changed: Sep 8
Last Checked: Sep 9 at 5:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial | SIG Commercial
Investment Insights
Based on property information with market context.
Located at 333 N Murray in Banning, California, this multifamily property contains six residential units with a varied configuration. The unit mix includes three studio apartments, two one-bedroom/one-bathroom apartments, and one two-bedroom/one-bathroom apartment.
The property is situated in a residential neighborhood with access to local shopping, dining, and major transportation corridors. Its defined unit mix provides a range of apartment formats within one multifamily asset.
The property is situated in a residential neighborhood with access to local shopping, dining, and major transportation corridors. Its defined unit mix provides a range of apartment formats within one multifamily asset.
Key Highlights
- Six‑unit multifamily property in Banning, CA
- Three studio units
- Two one‑bedroom + one‑bathroom units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,533
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,550,660
$1.6M
Cap Rate 7%
$1,107,614
$1.1M
Cap Rate 9%
$861,478
$861.5K
Market Conditions
NOI Build-Up for 4,790 SF
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.
Gross rent
$143.7K $30.00/SF
− Vacancy
−$2.7K −$0.57/SF
EGI
$141.0K $29.43/SF
− OpEx
−$63.4K −$13.24/SF
NOI
$77.5K $16.19/SF
Area
Riverside County, CA
Vacancy
1.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,550,660
Cap Rate 7%
$1,107,614
Cap Rate 9%
$861,478
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$969.2K – $1.29M
NOI $77,533 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.26M – $1.67M
NOI $100,450 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Explore this area
Business Placement
Demographics for 92220, CA
32,947
Population
13,258
Households
2.5
Avg Household Size
43
Median Age
17%
College-Educated
82%
High-School Grad
141.3 sq mi
ZIP Area
233
Density / Sq Mi
$59,116
Median Household Income
$35,428
Median Earnings
$1,499
Median Rent
$324,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Unit mix includes studios and one- and two-bedroom apartments.
Where is this apartment building located?
The property is located at 333 North Murray Street Banning, CA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Six‑unit multifamily property in Banning, CA; Three studio units; Two one‑bedroom + one‑bathroom units
