501 S Victoria Avenue, Corona, California 92879, Corona, 92879 - bed, bath

501 S Victoria Avenue, Corona, California 92879 home-pic-0
ACTIVE$875,000
501 S Victoria Avenue, Corona, California 92879
0Bed
0Bath
1,600Sqft
7,841Lot
Year Built
1964
Close
-
List price
$875K
Original List price
$875K
Price/Sqft
$547
HOA
-
Days on market
-
Sold On
-
MLS number
IG25079335
Home ConditionFair
Features
Patio
ViewNeighborhood

About this home

We found 3 Cons,5 Pros.

This unique property in the heart of Corona features two separate buildings on one lot, zoned for Commercial use with Multi-Purpose Commercial/Residential flexibility. The approximately 1,600 square foot single-family residence includes three bedrooms, one bathroom, a den, and spacious living and dining areas. A functional kitchen, dual-pane windows, central air and heat, copper plumbing, and a recently installed roof contribute to both comfort and value. The second structure is a standalone commercial building offering approximately 1,326 square feet of versatile space, suitable for a variety of office or retail uses. Built in 1962, it includes an ADA-compliant half bathroom. A fenced area adjacent to the building provides convenient onsite parking for up to three vehicles. Situated near the Corona Mall redevelopment area, this well-maintained property offers excellent potential in a growing and dynamic location

Condition Rating
Fair

Built in 1964, this property has received significant functional updates including a recently installed roof, dual-pane windows, central air and heat, and copper plumbing, which are excellent for its age. However, the bathroom, as seen in the images, features dated tile work (likely 15-25 years old), and the kitchen is only described as 'functional,' suggesting it is not modern or recently renovated. While major systems are in good working order, the aesthetic of key interior spaces like the kitchen and bathroom show signs of being outdated and would likely require updates to meet current buyer preferences.
Pros & Cons

Pros

Mixed-Use Zoning & Dual Structures: The property features two separate buildings on one lot with Commercial zoning and Multi-Purpose Commercial/Residential flexibility, offering diverse income streams or owner-occupancy options.
Strategic Location: Situated in the heart of Corona and near the Corona Mall redevelopment area, this location offers excellent potential in a growing and dynamic market.
Residential Unit Upgrades: The single-family residence benefits from recent upgrades including dual-pane windows, central air and heat, copper plumbing, and a recently installed roof, enhancing comfort and reducing immediate maintenance.
Versatile Commercial Space: The standalone commercial building provides approximately 1,326 square feet of versatile space suitable for various office or retail uses, complete with an ADA-compliant half bathroom.
Onsite Commercial Parking: A fenced area adjacent to the commercial building offers convenient onsite parking for up to three vehicles, a valuable asset for any business.

Cons

Limited Residential Bathrooms: The 1,600 square foot single-family residence, despite having three bedrooms, features only one bathroom, which may be a drawback for families or multiple occupants.
Age of Structures: Both buildings were constructed in the early 1960s (1964 and 1962), which, despite updates, may lead to ongoing maintenance considerations typical of older properties.
Modest Commercial Parking Capacity: While onsite parking is available for the commercial unit, the capacity of only three vehicles might be restrictive for businesses requiring higher customer or employee parking.

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