R3 Land Development
For Sale
Contact for pricing
640 W Nicolet, Banning, CA 92220
Land suitable for a 16-unit multi-family project.
Property SizeContact for details
Days on Market210
Property Features for 640 W Nicolet
General Information
Standard status
Active
Property subtype
Land
Listing Agency:
H & M Realty Group
(916) 220-1391
Listed By:
Mikaela Nguyen · License #02117027
Source:
Crexi
Added: Jan 19
Changed: Aug 8
Last Checked: Aug 8 at 3:14PM
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 H & M Realty Group
Investment Insights
Based on property information with market context.
This is an investor/developer opportunity for R3 land situated in an Opportunity Zone within the rapidly growing city of Banning, California. The site is suitable for the construction of a 16-unit apartment complex, intended to capitalize on the city's rental demand and limited multi-family inventory. The rental market in Banning has been strengthening, driven by population and job growth, as well as its proximity to major job centers in Beaumont, Palm Springs, and the Inland Empire. The parcel offers commuter connectivity and long-term investment security, with Interstate 10 access located minutes away. The flat, buildable parcel is suited for cost-efficient construction and is located near schools, shopping, parks, and new retail development. Banning is described as an emerging market in Southern California, with a shortage of quality rental housing and steady population growth. The property is positioned to offer upside potential, with pro forma numbers supporting returns and multiple exit strategies.
Key Highlights
- R3 Land in Opportunity Zone Entitled for 16‑Unit Multi‑Family Project.
- Strong Rental Market: High demand and limited multi‑family inventory.
- Excellent Commuter Connectivity: Minutes from Interstate 10, providing easy access to major job centers.
Property Analytics
Property Profile
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Land suitable for a 16-unit multi-family project.
Where is this residential land & home lot located?
The property is located at 640 W Nicolet Banning, CA.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: R3 Land in Opportunity Zone Entitled for 16‑Unit Multi‑Family Project.; Strong Rental Market: High demand and limited multi‑family inventory.; Excellent Commuter Connectivity: Minutes from Interstate 10, providing easy access to major job centers.
