1020 Margarita, Corona, California 92879, Corona, 92879 - 2 bed, 2 bath
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Corona, California 92879
This Updated Gated Condominium is a Strong Value Opportunity, listed at $395,000—positioned well below the $430,430 Fair Market Value by 8%. This valuation gap offers $35,430 in Instant Equity for incoming owners. The residence maintains a Move-in Ready Condition Rating, featuring a modernized kitchen with stainless steel appliances, fresh paint, and an attached one-car garage. Located within the secure Contadora community near Corona-Norco Unified schools, it perfectly balances lifestyle amenities with strong financial fundamentals. This is an ideal match for first-time buyers or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1020 Margarita Subject | $395,000* List Price | 2 | 2 | 1,032 | $417 | - |
A 1632 Windmill Lane D Sold | $475,000 | 2 | 2 | 1,014 | $468 | 0.8 mi |
B 778 Gianni Drive 210 Sold | $319,000 | 2 | 1 | 850 | $375 | 0.1 mi |
C 860 Tangerine Sold | $470,000 | 2 | 1 | 1,054 | $446 | 0.9 mi |
D 1616 Windmill Lane A Sold | $495,000 | 2 | 2 | 1,014 | $488 | 0.8 mi |
E 778 La Tierra Street H103 Sold | $320,000 | 2 | 2 | 888 | $360 | 0.1 mi |
F 1015 Margarita D202 Active | $359,900 List Price | 2 | 2 | 888 | $405 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and has undergone significant recent cosmetic renovations. The kitchen features updated cabinetry, stone countertops, a subway tile backsplash, and stainless steel appliances. While the building dates to 1985, the interior boasts modern flooring, fresh paint, and recessed lighting. Some bathroom elements, such as the shower enclosure and fluorescent light box, appear older, but the overall condition is well-maintained and updated.
The unit features contemporary updates including fresh interior paint, updated kitchen cabinetry, and stainless steel appliances, offering a move-in-ready experience for buyers.
Located in the secure Contadora community, residents enjoy premium lifestyle amenities including a sparkling pool, spa, and barbecue area within a gated environment.
The inclusion of an attached one-car garage provides rare convenience and added security for a condominium, offering both parking and additional storage space.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1032, other record living area = 888.
The monthly association fee of $402 is a significant recurring cost that may impact the overall affordability and debt-to-income ratio for potential residents.
The property listing indicates no specific views, which may be a drawback for buyers looking for the aesthetic appeal of the surrounding Corona hills or cityscapes.
Welcome to 1020 Margarita Drive, Unit C202 — a beautifully updated condominium nestled in the desirable gated Contadora community of Corona. This inviting 1,032 sq. ft. home offers two spacious bedrooms and two full bathrooms, thoughtfully designed for comfort and functionality. Step inside to find fresh interior paint, updated kitchen cabinetry, and stainless steel appliances that give the space a modern touch. The open-concept living area features elegant flooring, recessed lighting, and seamless flow to the outdoor patio — perfect for relaxing or entertaining. The private primary suite boasts a walk-in closet and ensuite bathroom. A second large bedroom with patio and full guest bathroom provide flexibility for guests, an office, or family. Recent improvements include a new dishwasher and hot water heater, ensuring efficiency and year-round comfort. Residents of the Contadora community enjoy exclusive access to amenities such as a sparkling pool, spa, barbecue area, and secure gated entry. With a private patio, attached one-car garage, and prime location close to top-rated schools, shopping, dining, and freeway access, this home offers the perfect blend of style, convenience, and everyday livability. Schedule your private tour today and discover why 1020 Margarita Drive, Unit C202 is the perfect place to call home!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,032 | 1,032 | 50% |
| Lot Size | - | - | 50% |
| Price | $395.0K | $435.0K | 33% |
| Price per sq ft | $383 | $409 | 43% |
| Built year | 1985 | 1988 | 33% |
| HOA | $402.0 | $398 | 62% |
| Days on market | 22 | 168 | 5% |
Mar 31, 2026
$395,000
Initial Listing
Dec 19, 2008
$94,000
Public Record
May 31, 2005
$245,000
Public Record