Listing Provided Courtesy Of:
DAVID COVARRUBIAS with MARCUS & MILLICHAP - 626-319-2479
Address
5001 W Wilson Street Banning, CA
Price
$ 14,250,000
Property Attributes
  • MLS#CV22112865
  • TypeIncome
  • CountyRIVERSIDE
  • CityBanning
  • AreaBanning-Beaumont-Cherry Valley
  • Zip92220
  • Style
  • Price$ 14,250,000
  • Bedrooms125
  • Full Bathrooms94
  • Half Bathrooms0
  • Sqr Footage58330
  • Lot Size2.36 Acres
Listing Provided Courtesy Of:
DAVID COVARRUBIAS with MARCUS & MILLICHAP - 626-319-2479
Data Source:
California Regional MLS (CRMLS)
Property Description

Marcus & Millichap is pleased to exclusively present the opportunity to acquire Wilson Gardens, a multifamily investment property comprised of 68 units and a non-conforming unit located at 5001 & 5059 West Wilson Street in the city of Banning, California. Built in 1976, Wilson Gardens sits on two contiguous parcels with a total lot size of 2.36 acres and has a combined building size of approximately 58,330 square feet. Wilson Gardens is comprised of six-2 story buildings and consists of fifteen-one bedroom/one bathroom units, twenty eight-two bedroom/one bathroom units, twenty one-two bedroom/two bathroom units, four-three bedroom/two bathroom units, and one non-conforming studio/one bathroom unit. These spacious units feature central air conditioning and heating, copper plumbing, and have individual hot water heaters. Selected units offer washer and dryer hook-ups and patio/balcony. Approximately 20% of the apartments have been renovated to feature laminated hardwood flooring, granite countertops, new cabinetry, double pane windows, and kitchen islands with seating in selected units. All units are individually metered for gas and electricity. Wilson Gardens is secured with multiple exterior security cameras, gated entrances and parking, and has an on-site leasing/management office with bathroom. Residents enjoy common area amenities including on-site laundry facility, swimming pool, and shaded picnic area with barbeque grill. The front lawn and community courtyard is upgraded with low-maintenance artificial turf. For parking, there are thirty-six single-car garages, twenty-four tuck-under parking with storage lockers, eight carport parking, and twenty-nine open space parking. All six buildings have also been seismic retrofitted. Wilson Gardens is located just north of the Interstate 10 on West Wilson Street, one of the main thoroughfares in the city of Banning with a daily traffic count of 11,053, and with easy access to the Interstate 10 freeway which takes commuters to cities in the Inland Empire. The property is conveniently located less than two miles to multiple major department and grocery stores such as Best Buy, Walmart Supercenter, Home Depot, Grocery Outlet, Walgreens, Stater Brothers Markets, and Food 4 Less. Additionally, Wilson Gardens is within minutes’ drive from Banning High School, Mt. San Jacinto San Gorgonio Pass College Campus, the Banning Municipal Airport, Cabazon Outlets Shopping Center, and Morongo Casino.

Price History
5/27/2022 Listed $14,250,000

General Features

Additional Parcels Description 408135004
Carport Spaces 8
Carport Y/N Yes
Co-Listing Agent State License # 01155706
Co-listing Agent DOUGLAS MCCAULEY - BRE#01155706
Community Features Sidewalks, Pool
Garage Spaces 36
Garage Y/N Yes
Listing Agent DAVID COVARRUBIAS - BRE#01941403
Listing Agent State License 01941403
Lot Size Square Feet 102801.6
MLS Area 263 - Banning/Beaumont/Cherry Valley
Open Parking Spaces 29
Pool Features Community
Property Attached Y/N Yes
Property Type Residential Income
Senior Community Y/N No
Sewer Public Sewer
Special Listing Conditions Standard
Status Active
Taxes 189351
Terms Cash, Cash to New Loan
Total Units 69
Water Sewer Expense 18924

Interior Features

Common Walls 2+ Common Walls
Laundry Features Common Area, Washer Hookup, Gas Dryer Hookup, Laundry Room

Exterior Features

Lot Features 26-30 Units/Acre
Lot Size Acres 2.36
Lot Size Area 2.36
Lot Size Source Other
Lot Size Units Acres
Number of Buildings 6
Number of Separate Electric Meters 69
Number of Separate Gas Meters 69
Number of Separate Water Meters 1
Parking Features Attached Carport, Carport, Garage
Total Parking 73
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 92220

Price
AVG $5.46M
$14.25M
Visits
AVG 20
28
Year Built
AVG 1967
1976
Walkscore
AVG 26
19
Data Provided by Walkscore ® not using MLS data

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