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1508 S Main Street, Corona, California 92882, Corona, 92882 - bed, bath

1508 S Main Street, Corona, California 92882 home-pic-0
ACTIVE$1,199,000
1508 S Main Street, Corona, California 92882
0Bed
0Bath
2,839Sqft
8,276Lot
Year Built
1937
Close
-
List price
$1.2M
Original List price
$1.3M
Price/Sqft
$422
HOA
-
Days on market
-
Sold On
-
MLS number
OC25198251
Home ConditionPoor
Features
Deck
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.20M(50th), sqft - 2839(50th), beds - undefined(50th), baths - undefined(50th).

Excellent investment opportunity in a prime location. This rare home offers three occupied rental units with a stable income stream. The property has a main two-story home, which includes two separate rental units. In addition, a third rental unit is located above a separate building which also includes 2 single car garages. The main house is divided into two rental units. The top floor unit has a private accessed separate staircase as well as a interior access which includes 1 Bedroom 1 bath and a deck. The downstairs unit offers a private entry, 2 bedrooms, and 1 bath. The third unit is located over the garage with 2 bedrooms and 1 bath. This property is served by a private driveway off Main Street and features a courtyard area in the center of the property. The occupied rental units provide immediate cash flow with long-standing tenants. The property is less than 1 ½ miles from downtown Corona in a beautiful neighborhood. Please do not disturb tenants. Contact the listing agent for all showing requests and detailed financial information.

Price History

Date
Event
Price
11/07/25
Price Change
$1,199,000-7.8%
09/06/25
Listing
$1,300,000
Condition Rating
Poor
Built in 1937, this property shows significant age with no evidence of major recent renovations. The kitchen features very dated appliances, cabinets, and countertops, while the bathroom also presents an extremely outdated style and fixtures. Both key areas would require substantial rehabilitation to meet modern standards. While currently occupied by tenants, the property's overall condition, including flooring and likely major systems (electrical, plumbing, HVAC), suggests a need for extensive updates beyond minor repairs.
Pros & Cons

Pros

Stable Income Stream: The property features three occupied rental units with long-standing tenants, providing immediate and stable cash flow for investors.
Multi-Unit Configuration: Comprising three distinct rental units (1-bed, 2-bed, and a 2-bed unit over a garage), the property offers diversified income potential and flexibility.
Prime Location: Situated in a prime location less than 1.5 miles from downtown Corona, enhancing tenant appeal and potential for property appreciation.
Private Amenities: Includes a private driveway off Main Street and a central courtyard, adding value and convenience for tenants.
Recent Price Adjustment: A recent price reduction from $1.3M to $1.199M presents a more attractive entry point for potential buyers.

Cons

Age of Property: Built in 1937, the property's age may indicate a need for significant updates, maintenance, or potential for outdated systems.
Limited Showing Access: The instruction 'Please do not disturb tenants' suggests restricted access for showings, potentially complicating buyer due diligence and inspections.
Property Type Discrepancy: Listed as a 'Duplex' but described as having 'three occupied rental units,' which could lead to confusion regarding zoning, financing, or legal classification.

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