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7979 Minnesota Road A, Corona, California 92881, Corona, 92881 - bed, bath

7979 Minnesota Road A, Corona, California 92881 home-pic-0
ACTIVE$1,599,999
7979 Minnesota Road A, Corona, California 92881
0Bed
0Bath
4,500Sqft
21,780Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Unique Market Position: A rare six-unit multifamily property in the Corona market with no comparable properties currently available, creating a high barrier to entry for competitors and a unique acquisition opportunity.
Top Cons:
Non-Prime Location: The property's location is explicitly noted as 'not considered prime,' which could potentially limit tenant pool diversity or future appreciation compared to more desirable areas.

Compared to the nearby listings

Price:$1.60M vs avg $1.26M (+$343,999.5)50%
Size:4,500 sqft vs avg 3,256 sqft50%
Price/sqft:$356 vs avg $40450%

More Insights

Built in 1958 (67 years old).
Condition: Built in 1958, this property is significantly aged. While described as 'turnkey' and 'income-generating' with all units occupied, the exterior images reveal a dated appearance and the presence of window AC units, strongly suggesting a lack of modern updates and central HVAC. Without interior photos, specific kitchen and bathroom conditions cannot be assessed, but it's highly probable they are also very outdated, consistent with the property's age and exterior. The property is functional and maintained enough to be occupied, but its major components and aesthetics show clear signs of being outdated, aligning with the 'Fair' condition criteria.
Year Built
1958
Close
-
List price
$1.6M
Original List price
$1.61M
Price/Sqft
$356
HOA
-
Days on market
-
Sold On
-
MLS number
OC25200220
Home ConditionFair
Features
View-

About this home

A truly unique offering in the Corona market, this six-unit multifamily property is a rare find for a savvy investor. There are no other properties of this size on the market, making this an unparalleled chance to acquire a significant, income-generating asset. This is a turnkey investment with all six units currently occupied by tenants, providing immediate, stable cash flow from day one. The property consists of six identical units, each featuring a spacious 2-bedroom, 1-bathroom layout. A dedicated single-car garage for each unit adds significant value and tenant appeal. While the location may not be considered prime, this property's high-occupancy history and consistent rental income showcase its proven performance and strong cash flow. This is a perfect opportunity for a strategic buyer to expand their portfolio and benefit from a high-yield asset that is insulated from the volatility of single-family rentals. The unique size of this property means less competition and a higher barrier to entry, protecting your investment for the long term.

Condition Rating
Fair
Built in 1958, this property is significantly aged. While described as 'turnkey' and 'income-generating' with all units occupied, the exterior images reveal a dated appearance and the presence of window AC units, strongly suggesting a lack of modern updates and central HVAC. Without interior photos, specific kitchen and bathroom conditions cannot be assessed, but it's highly probable they are also very outdated, consistent with the property's age and exterior. The property is functional and maintained enough to be occupied, but its major components and aesthetics show clear signs of being outdated, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Unique Market Position: A rare six-unit multifamily property in the Corona market with no comparable properties currently available, creating a high barrier to entry for competitors and a unique acquisition opportunity.
Turnkey & Immediate Income: The property is a turnkey investment with all six units currently occupied by tenants, providing immediate and stable cash flow from day one.
Desirable Unit Layout & Amenities: Each of the six identical units features a spacious 2-bedroom, 1-bathroom layout, complemented by a dedicated single-car garage for each unit, enhancing tenant appeal and overall value.
Proven High Occupancy & Cash Flow: Boasts a strong history of high occupancy and consistent rental income, showcasing its proven performance as a reliable and income-generating asset.
Long-Term Investment Protection: Its unique size and market position offer insulation from the volatility of single-family rentals and less competition, safeguarding the investment for the long term.

Cons

Non-Prime Location: The property's location is explicitly noted as 'not considered prime,' which could potentially limit tenant pool diversity or future appreciation compared to more desirable areas.
Age of Construction (1958): Built in 1958, the property may require significant capital expenditures for system upgrades (e.g., plumbing, electrical, HVAC) or cosmetic renovations to maintain competitiveness and tenant satisfaction.
Potential Sub_Type Discrepancy: The MLS `sub_type` is listed as 'Duplex' despite the description stating it's a 'six-unit multifamily property,' which could indicate zoning complexities or data inconsistency requiring further due diligence.

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