640 W Nicolet
Banning, CA 92220
33,977Sqft(Lot)
Investor/Developer Opportunity – R3 Land in Opportunity Zone for 16-Unit Multi-Family Project in rapidly growing Banning. The site allows for the construction of a 16-unit apartment complex, perfectly positioned to capitalize on the city’s strong rental demand and limited multi-family inventory. Banning’s rental market has continued to strengthen, driven by population and job growth as well as proximity to major job centers in Beaumont, Palm Springs, and the Inland Empire. With Interstate 10 access minutes away, this parcel offers excellent commuter connectivity and long-term investment security. Pro Forma & Investor Highlights: Entitled for 16 units – conservative market rents projected at $2,000–$2,400 per unit/month Annual Gross Potential Income: $384,000–$422,400 Estimated Expense Rati
Property Details
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Map
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Features
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Lot Details
Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.78 -
Lot Size Source: Assessor Lot Size Square Feet: 33977
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Listing Price Information
Original List Price: 199,900 Listing Contract Date: 2026-01-19 -
Lease Information
Listing Agreement: Exclusive Right To Sell
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Tax Information
Parcel Number: 541110007
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Other Property Info
Source Listing Status: Active Source Neighborhood: 263 - Banning/Beaumont/Cherry Valley Directions: 10 to Hargrave St, left on W Nicolet Zoning: R3 Source Property Type: Land Area: 263 - Banning/Beaumont/Cherry Valley
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| N/a, Banning, CA, 92220 | $49,900 | -- | -- | -- | 1,702,760 Sqft(Lot) |
| 7 LOT Horse Trail Rd., Banning, CA, 92220 | $62,000 | -- | -- | -- | 1,427,897 Sqft(Lot) |
| 48910 Twins Pines Rd., Banning, CA, 92220 | $68,000 | -- | -- | -- | 200,376 Sqft(Lot) |
| 13331 Gorgonio View, Banning, CA, 92220 | $149,000 | -- | -- | -- | 1,282,842 Sqft(Lot) |
| 19030 Highway 243, Banning, CA, 92220 | $235,000 | -- | -- | -- | 87,120 Sqft(Lot) |
| Gorgonio, Banning, CA, 92220 | $204,000 | -- | -- | -- | 1,698,840 Sqft(Lot) |
| Beechwood Drive, Banning, CA, 92220 | $97,500 | -- | -- | -- | 848,984.40 Sqft(Lot) |
| Summer Breeze Rd, Banning, CA, 92220 | $30,000 | -- | -- | -- | 113,256 Sqft(Lot) |
| 47385 Woodcliff Dr., Banning, CA, 92220 | $95,500 | -- | -- | -- | 116,305 Sqft(Lot) |
| Woodcliff Drive, Banning, CA, 92220 | $80,000 | -- | -- | -- | 171,191 Sqft(Lot) |
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ByOwner last updated this listing 06/05/2026 @ 16:53
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