1058 N Hermosa Avenue, Banning, California 92220, Banning, 92220 - 1 bed, 1 bath
ACTIVE$259,900
1058 N Hermosa Avenue, Banning, California 92220
1Bed
1Bath
462Sqft
9,148Lot
Year Built
1932
Close
-
List price
$260K
Original List price
$300K
Price/Sqft
$563
HOA
-
Days on market
-
Sold On
-
MLS number
IV25050410
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,6 Pros. Rank: price - $259.9K(2th), sqft - 462(0th), beds - 1(1th), baths - 1(8th).
ATTENTION INVESTORS!!! CASH OFFERS!!! Make this property your next project. Charming home situated on a large rectangular lot with a detached garage.
Price History
Date
Event
Price
08/18/25
Price Change
$259,900
03/06/25
Listing
$299,900
Condition Rating
Poor
This property, built in 1932, is explicitly marketed as an 'investor project' requiring 'cash offers' due to its condition, indicating substantial repairs and rehabilitation are needed. The exterior shows significant age and deferred maintenance, with an unlandscaped yard and older structures. The absence of interior photos, especially for the kitchen and bathroom, strongly suggests these areas are severely outdated and in very poor condition, likely requiring full replacement of appliances, fixtures, and systems. The property's age and the listing's emphasis on renovation align with the 'poor' classification, where major components require repair and the property may be unsafe or uncomfortable in its current state.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9148, living area = 462.
Investment Potential: Clearly marketed towards investors as a 'project' with 'cash offers' indicating a value-add opportunity for renovation and future appreciation.
Generous Lot Size: A substantial 9,148 sqft rectangular lot provides ample space for expansion, landscaping, or potential for an Accessory Dwelling Unit (ADU), significantly enhancing future value.
Detached Garage: The presence of a detached garage offers valuable utility for parking, storage, or potential for conversion into a workshop or additional living space (subject to permits).
Significant Price Reduction: The listing price has been reduced from $299,900 to $259,900, suggesting a motivated seller and presenting a more attractive entry point for buyers.
Historic Charm: Described as a 'Charming home' built in 1932, it possesses character that can be preserved and enhanced through renovation, appealing to buyers seeking unique properties.
Cons
Extensive Renovation Required: Explicitly stated as a 'project' and requiring 'cash offers,' indicating significant capital investment will be needed for updates and repairs due to its age (1932) and likely condition.
Limited Living Space: With only 462 sqft, 1 bedroom, and 1 bathroom, the property offers very compact living quarters, limiting its appeal to a broad market and potentially impacting resale value.
Financing Challenges: The 'CASH OFFERS!!!' directive suggests the property may not qualify for conventional financing due to its condition, narrowing the pool of potential buyers to those with liquid capital.