831 W 7th Street, Corona, California 92882, Corona, 92882 - bed, bath
ACTIVE$675,000
831 W 7th Street, Corona, California 92882
0Bed
0Bath
1,288Sqft
7,405Lot
Year Built
1954
Close
-
List price
$675K
Original List price
$675K
Price/Sqft
$524
HOA
-
Days on market
-
Sold On
-
MLS number
IG25036138
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $675.0K(33th), sqft - 1288(17th), beds - undefined(50th), baths - undefined(50th).
Duplex located near downtown Corona. This property offers two units, each upgraded with an additional bedroom making them 2 bed, 1 bath layouts. Located just minutes from downtown, this duplex provides easy access to shopping, dining, and public transportation, making it highly desirable for potential renters. The property does need some work, presenting the perfect chance to add value and increase equity. Whether you’re looking to maximize rental income or live in one unit while renting out the other, this duplex offers potential for cash flow.
Condition Rating
Poor
Built in 1954, this property shows significant signs of deferred maintenance and age. The exterior features peeling paint, old windows, and a dilapidated garage structure, indicating substantial repairs and rehabilitation are needed. The description explicitly states the property 'needs some work' and is a 'value-add opportunity,' suggesting extensive renovation rather than minor updates. The absence of interior photos, particularly for kitchens and bathrooms, strongly implies these areas are in very poor, outdated condition and would require complete overhaul. Major systems (electrical, plumbing, HVAC) are likely original or very old, necessitating replacement.
Pros & Cons
Pros
Income-Generating Asset: As a duplex, the property offers immediate potential for rental income and cash flow, appealing to investors or owner-occupants looking to offset housing costs.
Prime Downtown Location: Situated near downtown Corona, the property provides convenient access to shopping, dining, and public transportation, enhancing its desirability for renters.
Enhanced Unit Layouts: Both units have been upgraded to 2-bedroom, 1-bathroom configurations, which typically increases their market appeal and rental potential compared to smaller layouts.
Value-Add Opportunity: The property's need for 'some work' presents a clear opportunity for a buyer to invest in improvements, thereby increasing equity and maximizing future rental income.
Strong Rental Demand: Its proximity to essential amenities and public transport makes it highly desirable for potential renters, suggesting a stable demand for the units.
Cons
Requires Renovation/Work: The property explicitly 'needs some work,' indicating potential immediate capital expenditure for repairs, upgrades, or modernization by the buyer.
Older Construction: Built in 1954, the property may have aging systems (plumbing, electrical, HVAC) and components that could require significant maintenance or replacement in the near future.
Unspecified Renovation Scope: While bedroom upgrades are noted, the extent and quality of other necessary renovations (e.g., kitchens, bathrooms, infrastructure) are not detailed, posing an unknown cost factor for the buyer.