723 S Victoria Ave - Apartments FOR SALE


Corona, CA 92879- Downtown Corona
$1,400,000 USD
714-222-0696
723 S Victoria Ave, Corona, CA for Sale
$1,400,000 USD
Apartments - FOR SALE
1/39
null | 2.41% Cap Rate

723 S Victoria Ave
Corona, CA 92879
Downtown Corona


HIGHLIGHTS

  • Rare Opportunity to Acquire a Charming Single-Family Home and Modern Duplex on Individual Adjacent Parcels inside Corona’s Historic “Circle”
  • Versatile Triplex Featuring a Standalone Single-Family Home (Built 1924) and a Duplex (Built 2010) with Spanish Style Roofs
  • Totaling ±3,526 Rentable SF Situated on a Combined ±10,455 SF Lot
  • Spacious Two-Bedroom Floor Plans with an Average Unit Size of ±1,175 SF
  • Units Boast Fully Equipped Kitchens, W/D Hook-Ups, Ceiling Fans, and Wall AC/Heating (House) and Central AC/Heating (Duplex), Mature Landscaping
  • Exceptional Owner-User or Value-Add Investment in the High-Demand Inland Empire Market & Central Location with Immediate Access to the 91 Freeway

OVERVIEW

CBRE, Inc., as exclusive advisor, is proud to present an exceptional opportunity to acquire a 3-unit multifamily property located at 723 Victoria Avenue and 311 E 8th Street in Corona. This versatile property is ideally situated adjacent to the 91 Freeway, just off Main Street, within Corona’s historic “Circle”—an area central to the city’s charming Grand Boulevard. This offering presents a perfect scenario for an owner-user seeking income or an astute investor looking for an asset with significant growth potential in a burgeoning market. Property Highlights This distinctive property encompasses three residences situated on two individual adjacent parcels combining for a substantial total lot size of ±10,455 square feet. The offering includes a classic 1924 two-bedroom, one-bathroom home on one parcel, alongside a modern 2010 duplex on an adjacent parcel. The contemporary duplex features an appealing Spanish tile roof, and all residences are complemented by inviting outdoor areas with mature landscaping and vibrant palm trees. The standalone home provides enhanced privacy with its brick-gated yard and an attached garage. Each duplex unit offers the convenience of an attached two-car garage, with the downstairs unit further benefiting from a spacious, landscaped front yard. The upstairs duplex unit boasts a spacious private patio. All three residences come fully equipped with kitchens, individual AC/heating, window coverings, and washer/dryer hook-ups. Central Location & Inland Empire Advantage The subject property offers a central and highly accessible location with convenient access to the Metrolink Corona North Commuter Rail Station, making commutes a breeze for residents. The property is in close proximity to Corona Regional Medical Center and diverse shopping centers, theaters, restaurants, trendy shops, and outdoor malls, catering to every lifestyle need. This investment benefits from its strategic position within the Inland Empire, a compelling market for multifamily investors. Riverside County boasts a robust and growing workforce driven by major regional distribution centers, which consistently attract new residents and create a strong, stable demand for rental housing. This economic foundation provides appealing stability and minimizes vacancy risk, ensuring sustainable and attractive returns for investors. Investment & Owner-User Opportunity The Inland Empire continues to offer more competitive entry points than other Southern California markets, positioning this triplex as a strategically attractive option for portfolio diversification or market entry. This Corona triplex represents a perfect owner-user opportunity with significant rental upside potential, ensuring a stable and valuable long-term investment. Whether you’re a first-time investor seeking to enter the market, a seasoned professional looking to expand your portfolio, or considering a 1031 Exchange, this property delivers exceptional stability and enduring value in a dynamic Southern California market.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$397 USD /SF

# OF UNITS

3

PRICE/UNIT

$466,667

CAP RATE

2.41%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

311 E 8th Street & 723 S Victoria Avenue

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1924

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,455 SF

ZONING

-

APN/PARCEL ID

117-194-022,117-194-024

ASK ABOUT THIS PROPERTY

714-222-0696

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714-222-0696

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