905 S Joy Street, Corona, California 92879, Corona, 92879 - 6 bed, 3 bath
ACTIVE$890,000
905 S Joy Street, Corona, California 92879
6Beds
3Baths
1,734Sqft
14,810Lot
Year Built
1947
Close
-
List price
$890K
Original List price
$1.25M
Price/Sqft
$513
HOA
-
Days on market
-
Sold On
-
MLS number
IG25051429
Home ConditionPoor
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $890.0K(25th), sqft - 1734(25th), beds - 6(50th), baths - 3(50th).
Great opportunity, lots of space for a big family or investors, 14,810 sq feet lot, agents and buyer to verify zoning and possible lot split once in a lifetime opportunity, corner lot facing Joy Street and 9th close to shops and downtown, sold as is condition shown by appointment only
Condition Rating
Poor
Built in 1947 and sold 'as-is,' this property requires substantial rehabilitation. All visible kitchens and bathrooms are severely outdated with old cabinets, laminate countertops, electric coil ranges, and dated fixtures, indicating a need for full renovation. Flooring consists of dated ceramic tiles and worn carpets. The overall condition suggests major systems are likely old and require significant upgrades to meet modern standards and comfort.
Pros & Cons
Pros
Investment Opportunity: The property is classified as 'Residential Income' and a 'Duplex', explicitly marketed as a 'Great opportunity' for investors, offering potential for rental income.
Significant Lot Size: Boasting a substantial 14,810 sq ft lot, this property provides ample space for various uses or future expansion.
Development Potential: The listing highlights a 'possible lot split', presenting a 'once in a lifetime opportunity' for significant value addition through subdivision or additional development.
Corner Lot Advantage: As a corner lot facing Joy Street and 9th, the property benefits from increased visibility, accessibility, and potentially more flexible development options.
Substantial Price Reduction: The list price has been significantly reduced from an original $1,250,000 to $890,000, indicating a motivated seller and potentially a strong value proposition.
Cons
As-Is Condition: The property is 'sold as is condition', implying that the seller will not make repairs and the buyer should anticipate potential costs for renovations or deferred maintenance.
Age of Property: Built in 1947, the property is older, which may lead to outdated systems, higher maintenance requirements, and potential need for significant upgrades to meet modern standards.
Buyer Due Diligence Required: The listing explicitly states 'agents and buyer to verify zoning and possible lot split', placing the burden of extensive due diligence on the buyer to confirm the feasibility and cost of development opportunities.