111 N Victoria Avenue, Corona, California 92879, Corona, 92879 - 2 bed, 1 bath
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Corona, California 92879
This Transit-Oriented Development Asset is listed at $449,999, reflecting a strategic price point near its $404,446 Fair Market Value. Given the Condition Rating of 6, the existing 1928 structure with a patio is a candidate for demolition to unlock the site's true value. The 6,970 sqft flat lot features rare Gateway Business (GB) and Multi-family (MF) zoning, situated directly across from the Main Street Metro Station in the Corona-Norco Unified district. This high-density potential offers significant ROI for Developers and Commercial Investors.
Property is land value only, full reconstruction required.
Built in 1928, this property is nearly 100 years old with no apparent major renovations in decades. The images reveal severely worn carpets, outdated wall-mounted heating/cooling units, old light fixtures, and a generally neglected state. The small size (556 sqft) and the listing's explicit focus on the land's development potential (GB/MF zoning) and the need for 'substantial renovation or demolition' confirm that the existing structure is beyond repair and its value lies solely in the land.
The parcel is zoned GB (Gateway Business) and MF (Multi-family) due to the City of Corona General Plan Housing Element Rezoning Program, offering significant opportunities for commercial or multi-family residential development.
Located directly across from the Metro Train Station at Main Street, providing excellent public transportation access and making it highly attractive for future residents or businesses seeking transit-oriented development.
The availability of the neighboring parcel (115 N. Victoria Ave) for sale presents a unique chance to acquire a larger combined lot, significantly enhancing development scale and potential.
Built in 1928, the current 556 sqft home is very old and small, likely requiring substantial renovation or demolition, which adds to project costs for any redevelopment.
Its direct proximity to a Metro Train Station and likely a main road (N Victoria Ave) suggests a high-traffic and potentially noisy environment, which could be a deterrent for traditional single-family residential use.
Given its small size, age, and location characteristics, the existing single-family home has limited appeal for a typical residential buyer looking for a move-in ready family home, positioning it primarily as a development play.
Seller is ready for these to be sold! Fantastic OPPORTUNITY! The City of Corona General Plan Housing Element Rezoning Program affected this parcel. Zone overlay is GB (Gateway Business) and MF (Multi-family). See attached supplement with city plans. Home is located directly across from the Metro Train Station at Main Street. Great size flat lot offers many options.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.5 | 3% |
| Baths | 1.0 | 2.0 | 8% |
| Square foot | 556 | 1,658 | 1% |
| Lot Size | 6,970 | 7,670.5 | 35% |
| Price | $420.0K | $719.9K | 3% |
| Price per sq ft | $755 | $419 | 99% |
| Built year | 1928 | 1968 | 4% |
| HOA | $0 | $0 | 50% |
| Days on market | 279 | 173 | 95% |
Apr 8, 2026
$420,000
$449,999
-7% Price Drop
Initial Listing
Mar 4, 2026
$449,999
$499,998
-10% Price Drop
Initial Listing
Feb 11, 2026
$499,998
$499,999
+0% Price Increase
Initial Listing
Feb 3, 2026
$499,999
$500,000
+0% Price Increase
Initial Listing
Jan 23, 2026
$500,000
$450,000
+11% Price Increase
Initial Listing
Jan 15, 2026
$450,000
$590,000
-24% Price Drop
Initial Listing
Aug 26, 2025
$590,000
$600,000
-2% Price Drop
Initial Listing
Aug 5, 2025
$600,000
Initial Listing
Jul 17, 2025
$500,000
Initial Listing