419 E 8th Street, Corona, CA 92879 (MLS # IV17110938)
Competitive Offering Actual CAP Rate of 4.30%, With a ProForma CAP Rate of 5.75%, ProForma GRM of 11.90, 20-25 % Upside in Potential Rental Income. High Infill Downtown Location, Non-Rent Control Community, Recent Capital Improvements; Newer Roof, Exterior Paint, Upgraded Interior Units, Financeable Asset, Long Term Tenants, With Strong Historicals. The property located at 419 East 8th Street is situated on a 0.17 acre lot, in downtown Corona, CA. This four unit apartment has an attractive unit mix of 2 one bedroom / one bathroom units, 1 two bedroom / one bathroom unit and 1 three bedroom / one bathroom unit. The apartment is located within a short driving distance of two of the areas biggest employers, The Corona Regional Medical Center & Watson Pharmaceuticals. These employers alone have more than 2,200 employees. The properties close proximity makes it a great fit for medical staff and blue collar workers alike. The property is also ideally suited for families, being within a short distance from Corona High School and its more than 3,100 Students. The situation of the community also provides direct access to the 91 and 15 freeways, for convenient commuting. 419 E 8th St, Corona, CA 92879 is found within the neighborhood referred to as City Center neighborhood of Corona. Corona City Center is an urban neighborhood, with real estate vacancies in Corona City Center below five percent, which is lower than one will find in nearly 70% of American neighborhoods.
|DAYS ON MARKET||248||LAST UPDATED||5/18/2017|
|COMMONWALLS||2+ common walls|
|MLSAREAMAJOR||248 - Corona|
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