111 N Victoria Avenue, Corona, California 92879, Corona, 92879 - 2 bed, 1 bath
ACTIVE$590,000
111 N Victoria Avenue, Corona, California 92879
2Beds
1Bath
556Sqft
6,970Lot
Year Built
1928
Close
-
List price
$590K
Original List price
$500K
Price/Sqft
$1,061
HOA
-
Days on market
-
Sold On
-
MLS number
IG25053368
Home ConditionTear down
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $590.0K(10th), sqft - 556(1th), beds - 2(5th), baths - 1(5th).
Fantastic OPPORTUNITY! The City of Corona General Plan Housing Element Rezoning Program affected this parcel. Zone overlay is GB (Gateway Business) and MF (Multi-family). See attached supplement with city plans. Home is located directly across from the Metro Train Station at Main Street. Great size flat lot offers many options. Parcel next door is also for sale: 115 N. Victoria Ave. Purchasing both parcels opens up a world of possibilities.
Price History
Date
Event
Price
08/26/25
Price Change
$590,000-1.7%
08/05/25
$600,000
07/17/25
$500,000
Condition Rating
Tear down
Built in 1928, the property shows no evidence of major renovations in the past 50+ years. The kitchen is severely outdated with worn cabinets, countertops, and flooring, and lacks modern appliances. The interior features old, stained carpets and a window-mounted AC unit, indicating a lack of central HVAC. The small square footage (556 sqft) combined with the property description's strong emphasis on rezoning and redevelopment potential indicates the existing structure is considered a tear-down, with the value primarily in the land.
Pros & Cons
Pros
Prime Development Zoning: The parcel is affected by the City of Corona General Plan Housing Element Rezoning Program, with zone overlays of GB (Gateway Business) and MF (Multi-family), offering significant redevelopment potential for commercial or multi-family projects.
Transit-Oriented Location: Strategically located directly across from the Metro Train Station at Main Street, making it an ideal site for transit-oriented development (TOD) and enhancing its appeal for future commercial or residential density.
Strategic Adjacent Parcel Availability: The availability of the parcel next door (115 N. Victoria Ave) for sale presents a unique opportunity to combine properties, enabling a larger-scale and more impactful development project.
Generous & Flat Lot: The property boasts a great size (6,970 sqft) and flat lot, which simplifies construction and maximizes usable space for potential redevelopment.
High Investment/Redevelopment Value: This property is a clear investment opportunity, with its primary value derived from the land and its development potential rather than the existing structure, appealing to savvy investors and developers.
Cons
Aged and Small Existing Structure: The existing 1928-built home is very small (556 sqft) and likely requires significant renovation or demolition, adding to the overall development costs and potentially limiting its appeal to traditional residential buyers.
Niche Buyer Pool: The property's unique value proposition as a development site means it appeals to a specific market of investors and developers, potentially leading to a longer marketing period compared to a standard residential listing.
Significant Upfront Investment Required: Realizing the full potential of this property will necessitate substantial capital for demolition (if chosen) and new construction, which can be a barrier for some prospective buyers.