919 S Merrill Street, Corona, California 92882, Corona, 92882 - bed, bath
ACTIVE$750,000
919 S Merrill Street, Corona, California 92882
0Bed
0Bath
1,424Sqft
7,405Lot
Year Built
1957
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
$527
HOA
-
Days on market
-
Sold On
-
MLS number
CV25036303
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $750.0K(33th), sqft - 1424(17th), beds - undefined(50th), baths - undefined(50th).
Amazing Triplex in the Heart of Corona, perfect for a large and or extended family or simply as an investment. Front house is a 1 bedroom unit and a duplex in the rear which are also 1 bedroom each. Close to schools, parks, shopping and the 91 & 15 freeways.
Condition Rating
Poor
Built in 1957, this property is over 60 years old with no visible or stated major renovations. The exterior appears dated, and the lack of interior photos, especially for kitchens and bathrooms, strongly suggests these areas, along with major systems (electrical, plumbing, HVAC), are original or very outdated. The property analysis also notes the age as a weakness, indicating potential for outdated systems and deferred maintenance. Substantial repairs and rehabilitation would likely be required to bring it to modern standards.
Pros & Cons
Pros
Multi-Unit Income Property: The property is a triplex, offering multiple rental income streams, making it an attractive investment or suitable for multi-generational living.
Strategic Location: Situated in the 'Heart of Corona,' the property boasts excellent proximity to schools, parks, shopping, and major freeways (91 & 15), enhancing its appeal to tenants and owners alike.
Investment Potential: Explicitly marketed as an investment, this property type is ideal for buyers focused on generating rental income and building equity.
Generous Lot Size: The 7,405 sqft lot provides ample outdoor space, a valuable amenity for a multi-unit property in an urban setting.
Active Market Status: The property is currently active on the market, indicating immediate availability for purchase and potential for quick acquisition.
Cons
Age of Property: Built in 1957, the property is older, suggesting potential for outdated systems, deferred maintenance, and the need for significant renovations to meet modern standards.
Small Unit Footprint: With a total of 1424 sqft for three 1-bedroom units, each unit is relatively small, which may limit tenant appeal and rental income compared to larger units.
Limited Unit Configuration: All units being 1-bedroom restricts the potential tenant pool, as it may not cater to families or individuals requiring more living space, potentially impacting occupancy rates.