405 Ramona Avenue, Corona, California 92879, Corona, 92879 - 3 bed, 2 bath
ACTIVE$550,000
405 Ramona Avenue, Corona, California 92879
3Beds
2Baths
1,280Sqft
7,841Lot
Year Built
1910
Close
-
List price
$550K
Original List price
$550K
Price/Sqft
$430
HOA
-
Days on market
-
Sold On
-
MLS number
IG25196534
Home ConditionTear down
Features
Patio
ViewNeighborhood
About this home
Possibly Over-Priced:The estimated price is 32% below the list price. We found 3 Cons,5 Pros. Rank: price - $550.0K(8th), sqft - 1280(16th), beds - 3(41th), baths - 2(41th).
A Great Diamond in the Rough, this 1910 3 Bedroom, 1.5 Bathroom Home is in the Heart of Corona. This has Incredible Potential being Zoned as R3 with the City of Corona. The Generous Lot Included a Large Gated Entry in the Back of the Property. Ideally Located Near the 91 Fwy as well as the 15 Freeway and Close by Shopping, Dining and Downtown. With its Central Location, Large Lot and Versatile Zoning, this Property is Ready for New Owners to Reimagine its Next Chapter. Call today to schedule your showing!
Price History
Date
Event
Price
09/01/25
Listing
$550,000
Condition Rating
Tear down
Built in 1910, this property shows no evidence of major renovations in the past 50+ years. The kitchen features extremely outdated appliances, worn cabinets, and dated linoleum flooring. Carpets throughout the house are heavily stained and worn, indicating significant deferred maintenance. The description 'Diamond in the Rough' and the R3 zoning suggest the property's value lies primarily in the land and its potential for redevelopment, rather than the existing structure, which appears to be beyond economical repair for modern living standards.
Pros & Cons
Pros
Versatile Zoning (R3): The property is zoned R3, offering significant potential for multi-unit development or expansion, enhancing its long-term value and investment appeal.
Generous Lot Size: A substantial 7,841 sqft lot provides ample space for potential expansion, landscaping, or additional structures, complementing the R3 zoning.
Strategic Location: Ideally situated with excellent access to the 91 and 15 Freeways, and close proximity to shopping, dining, and downtown Corona, appealing to commuters and those seeking convenience.
Value-Add Opportunity: Described as a 'Diamond in the Rough,' this property offers considerable potential for renovation and modernization, allowing new owners to significantly increase its value.
Historic Character: Built in 1910, the home possesses inherent historic charm and architectural character, appealing to buyers looking for a unique property with a story.
Cons
Extensive Renovation Required: As a 1910 build and described as a 'Diamond in the Rough,' the property will require significant investment in modernization, repairs, and updates to meet contemporary standards.
Limited Bathroom Count: The home features 1.5 bathrooms for 3 bedrooms, which may be a limiting factor for larger families or those accustomed to more modern bathroom ratios.
Upfront Capital Investment: Beyond the purchase price, prospective buyers must be prepared for substantial additional capital expenditure to realize the property's full potential and address its current condition.