40041 Dutton
Cherry Valley, CA, 92223 $ 650,000
Baths1.0 Sq 2,881 Monthly Estimate*
$ 4,104
Listed by PROSPERITY REAL ESTATE & ASSOC
Studio for $650,000 with 1 full bath. This 2,881 square foot home was built in 1915 on a lot size of 0.61.
TWO HOMES. ONE LOT. INCOME-PRODUCING PROPERTY. Welcome to a rare Cherry Valley opportunity offering two detached residences on one spacious lot, perfect for multigenerational living, extended family, or buyers looking to create rental income at a 7% cap rate or higher. The main home offers approximately 1,781 sq. ft. with 3 bedrooms, 1 bathroom, a spacious living area, a large kitchen with breakfast bar, dedicated laundry room, and a circular driveway with plenty of parking. The main residence also enjoys its own spacious, fully fenced backyard, providing added privacy and plenty of room to relax, entertain, garden, or create your own outdoor retreat. The second residence offers approximately 1,100 sq. ft., 1 bedroom and 1 bathroom, and was beautifully updated in 2024 with modern wood-look flooring, recessed lighting, mini-split climate control, and a stylish kitchen featuring green cabinetry, butcher-block-style countertops, open shelving, and stainless-steel appliances. And then there's the land. The expansive backyard is a blank canvas with room for RVs, boats, recreational toys, a future pool, workshop, garden, outdoor entertaining area, or additional possibilities subject to zoning and permits. Conveniently located near schools, parks, shopping, dining, medical services, and easy access to the I-10 Freeway, connecting you to Beaumont, Banning, the Inland Empire, and the Palm Springs area. Live in one. Rent the other. Bring the family. Bring the toys. Bring your vision. This is the kind of property that gives you options and opportunities like this don't come around often. WELCOME TO YOUR NEW HOME!
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FeaturesGeneralSewer Septic Type Unknown
Heating Central
Garage Spaces 0
Pool Features None
Year Built 1915
Stories Count 1
Levels One
Property Subtype Single Family Residence
Gross Income 60000
Community Features Foothills Street Lights
County Riverside
Net Operating Income 55332.12
Operating Expense 4667.88
Insurance Expense 2400
New Construction false
Property Type Residential Income
Subdivision Name Cherry Valley
Garage Y/N false
Special Listing Conditions Standard
Status Active
Directions Take I-10 E to Cherry Valley Blvd. Turn left on Cherry Valley Blvd left on Noble St then right on Dutton St. Property is located at 40041 Dutton St.
City Cherry Valley
Entry Location front
Senior Community Y/N false
Number Of Units Total 2
MLS Area 263 - Banning/Beaumont/Cherry Valley
Lot Size Units Square Feet
Lot Size Square Feet 26572
Listing Terms Cash Cash to New Loan Conventional FHA USDA Loan VA Loan
Property Attached Y/N false
Land Lease Y/N false
Trash Expense 467.88
Additional Parcels Y/N false
Rent Control Y/N false
Building Area Units Square Feet
Standard Status Active
Year Built Source Public Records
Tax Lot 2
Property Sub Type Additional Single Family Residence
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InteriorTotal Stories 1
Common Walls No Common Walls
Heating Y/N true
Laundry Features Laundry Room
Entry Level 1
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ExteriorLot Features 0-1 Unit/Acre Agricultural Back Yard Horse Property
Water Source Public
Total Parking 0
Lot Size Area 26572
Number of Buildings 2
Building Area Total 2881
Lot Size Acres 0.61
Private Pool false
Lot Size Source Assessor
Number of Separate Water Meters 2
Number of Separate Gas Meters 2
Number of Separate Electric Meters 2
Horse Y/N true
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* Excluded FeaturesList ByProsperity Real Estate & AssocBroker
offers@prosperityrea.netEmail
Affordability Calculator
- Monthly Principal & Interest
- $4,104
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Cherry Valley, CA
Average List Price $650,000
Percent of Sale Price 0%
About Cherry Valley, CA 6,556 Population
43% Since 2002
$ 52,182 Median Income
50.1 Median Age
19% Households with Children
Trends Information provided by ATTOM Data Solutions.
4827338 Elementary School
4827337 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 8/26/2026 | $650,000 | | Listed Price |