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712 E Howard St
Corona, CA 92879 Downtown Corona

$2,000,000 USD

Apartments For Sale  •  6,974 SF

Property Details

  • Property Type Apartments
  • Total Building Size 6,000 SF
  • Lot Size 0.17 AC
  • Building Class C
  • Year Built 1963
  • Cap Rate 5.04 %
  • Zoning R3
70 Transit Score
60 Walk Score

Highlights

Scheduled January 2027 rent increases will generate an additional $950 per month / $11,400 annually in rental income - 5.60% CAP
Current rents approximately 20% below market, providing additional long-term rental upside
Six of the 10 units have been refurbished, including quartz countertops, with tile showers installed in seven units
Capital improvements include copper repiping, newer roof, most water heaters replaced, and updated electric heaters
Property features on-site tenant parking and a laundry room
All-electric property with no gas service

Financial Summary (Actual)

Net Operating Income: $100,852 USD (2025)
Cap Rate: 5.04 %
Total Expenses: $56,378 USD

Public Transportation

Commuter RailDriveWalkDistance
North Main Corona Metrolink Station (Metrolink 91-Perris Valley Line - Metrolink Trains, Metrolink Inland Empire-Orange County Line - Metrolink Trains) 3 min - 1.2 mi
West Corona Metrolink Station (Metrolink 91-Perris Valley Line - Metrolink Trains, Metrolink Inland Empire-Orange County Line - Metrolink Trains) 7 min - 4.0 mi
AirportDriveWalkDistance
Ontario International 24 min - 16.6 mi
John Wayne/Orange County 36 min - 29.0 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 10
Type: Surface
Included in Rent: Yes
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