Exceptional investment opportunity in the heart of Banning, CA! This unique property features FOUR separate income-producing structures on one spacious lot — two 2-bedroom, 1-bathroom units and two 1-bedroom, 1-bathroom units. Whether you're looking to build your rental portfolio, create a multi-generational living setup, or live in one and rent the others, the possibilities are endless.
Each unit offers its own private entrance and yard space, ideal for tenant privacy and comfort. The property is conveniently located near shopping, schools, freeway access, and just minutes from the expanding Downtown Banning area.
With strong rental potential and a layout perfectly suited for maximizing cash flow, this property is a rare find. Don’t miss out on this versatile and high-demand investment!
NEIGHBORING PROPERTY CAN ALSO BE INCLUDED - SEE SW25135253. DON'T MISS OUT.
Sold for $600,000
Listing Provided by: Realty Masters & Associates
Bought with: Keller Williams Realty
$600,000
688 W Nicolet St, Banning, CA 92220
6beds
2,200sqft
Quadruplex
Built in 1964
-- sqft lot
$601,400 Zestimate®
$273/sqft
$3,173 Estimated rent
Home value
$601,400
$547,000 - $662,000
$3,173/mo
Zestimate® history
Owner options
List your home for rent
$3,173/mo
Rent Zestimate®
Find your next renter with Zillow Rental Manager. Plus, with online applications, you can quickly screen prospective tenants – for free.
$3,173/mo
Rent Zestimate®
Refinance and save
$3,804/mo
Est. payment
Refinancing to a lower rate could help reduce your monthly payments and save thousands over the life of the loan.
$3,804/mo
Est. payment
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List your homeWhat's special
Yard spaceSpacious lotPrivate entrance
Zillow last checked:
Listing updated:
Listing Provided by:
Nicole Hicks DRE #02198376 520-406-6289,
Realty Masters & Associates
Bought with:
Sherelle Richardson, DRE #02228627
Keller Williams Realty
Source: CRMLS,MLS#: SW25168552
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 4
- Full bathrooms: 4
- Main level bathrooms: 6
- Main level bedrooms: 6
Bedroom
- Features: All Bedrooms Down
Heating
- None
Cooling
- None
Appliances
- Laundry: Washer Hookup, Electric Dryer Hookup
Features
- All Bedrooms Down
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: No Common Walls
Interior area
- Total interior livable area: 2,200 sqft
Property
Features
- Levels: One
- Stories: 1
- Entry location: Ground
- Pool features: None
- Has view: Yes
- View description: Mountain(s)
Lot
- Size: 0.45 Acres
- Features: 0-1 Unit/Acre
Details
- Parcel number: 540141013
- Zoning: R3
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
Condition
- New construction: No
- Year built: 1964
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Community
- Community features: Suburban
Location
- Region: Banning
- Subdivision: Terrain Estates
Other
Other facts
- Listing terms: Cash,Cash to Existing Loan,Cash to New Loan,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 12/3/2025 | Sold | $600,000$273/sqft |
Source:  CRMLS #SW25168552 Report a problem | ||
| 11/14/2025 | Pending sale | $600,000$273/sqft |
Source: CRMLS #SW25168552 Report a problem | ||
| 8/17/2025 | Contingent | $600,000$273/sqft |
Source: CRMLS #SW25168552 Report a problem | ||
| 7/27/2025 | Listed for sale | $600,000$273/sqft |
Source: CRMLS #SW25168552 Report a problem | ||
| 7/25/2025 | Listing removed | $600,000$273/sqft |
Source:  SDMLS #SW25137712 Report a problem | ||
| 6/25/2025 | Listed for sale | $600,000+140%$273/sqft |
Source: SDMLS #SW25137712 Report a problem | ||
| 12/12/2003 | Sold | $250,000+212.5%$114/sqft |
Source: Public Record Report a problem | ||
| 8/28/2000 | Sold | $80,000+45.5%$36/sqft |
Source: Public Record Report a problem | ||
| 7/19/1999 | Sold | $55,000+77.4%$25/sqft |
Source: Public Record Report a problem | ||
| 5/23/1996 | Sold | $31,000$14/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,817 +2% | $418,148 +2% |
| 2024 | $5,702 +0.1% | $409,950 +2% |
| 2023 | $5,698 +2.1% | $401,913 +2% |
| 2022 | $5,579 +2% | $394,033 +2% |
| 2021 | $5,472 +0.8% | $386,308 +1% |
| 2020 | $5,426 +1.6% | $382,348 +2% |
| 2019 | $5,342 +0.6% | $374,851 +2% |
| 2018 | $5,308 +1.6% | $367,502 +2% |
| 2017 | $5,224 | $360,297 +2% |
| 2016 | $5,224 +6.7% | $353,233 +1.5% |
| 2015 | $4,897 +0.6% | $347,928 +2% |
| 2014 | $4,867 | $341,114 +0.5% |
| 2013 | -- | $339,575 +2% |
| 2012 | -- | $332,918 +2% |
| 2011 | -- | $326,391 +0.8% |
| 2010 | -- | $323,953 -0.2% |
| 2009 | -- | $324,726 +2% |
| 2008 | -- | $318,360 +2% |
| 2007 | -- | $312,119 +2% |
| 2006 | -- | $306,000 +2% |
| 2005 | -- | $300,000 +260.4% |
| 2003 | -- | $83,232 +2% |
| 2002 | -- | $81,600 +2% |
| 2001 | $951 +44.4% | $80,000 +45.5% |
| 2000 | $659 | $55,000 |
Find assessor info on the county website
Neighborhood: 92220
Nearby schools
GreatSchools rating
- 2/10Central Elementary SchoolGrades: K-5Distance: 0.4 mi
- 1/10Nicolet Middle SchoolGrades: 6-8Distance: 0.5 mi
- 5/10Banning High SchoolGrades: 9-12Distance: 0.9 mi
Get a cash offer in 3 minutes
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Estimated market value
$601,400
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$601,400
- California
- Riverside County
- Banning
- 92220
- 688 W Nicolet St
Nearby cities
Nearby zip codes
Other Banning Topics
