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929-933 W 7th St 7 Unit Apartment Building $1,625,000 ($232,143/Unit) 6.01% Cap Rate Corona, CA 92882
INVESTMENT HIGHLIGHTS
- A unique opportunity to acquire a 7-unit apartment community situated on two neighboring parcels.
- Featuring a high-demand mix heavily weighted toward 2-bedroom units (5 of 7), the property is offered just above a 6 CAP on current rents.
- Positioned 0.25 miles from two retail centers anchored by Superior Grocers and Cardenas Markets.
- The property is comprised entirely of single-story units, an increasingly rare construction style.
- Located within walking distance of Corona City Hall and the OBC Theater.
- Located less than 0.5 miles from Jefferson Elementary School and Corona High School.
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present 929 & 933 West 7th Street, a 7-unit multifamily investment opportunity located in the heart of Downtown Corona. Situated on two adjacent parcels, the property features 100% single-story construction and a highly desirable workforce unit mix consisting of (1) studio, (1) 1-bed / 1-bath, and (5) 2-bed / 1-bath units.
Residents benefit from a strong amenity package including private patios (select units), on-site laundry, surface, carport, and garage parking, and individual water heaters for each unit, enhancing both resident quality of life and ease of property operations.
The property is ideally positioned within walking distance of Corona City Hall and the OBC Theater, placing residents near downtown amenities, civic services, and entertainment options. The surrounding neighborhood is further supported by two nearby retail centers anchored by Superior Grocers and Cardenas Markets, located approximately 0.25 miles from the property, providing convenient access to daily necessities.
Additionally, Jefferson Elementary School and Corona High School are located less than 0.5 miles away, supporting consistent long-term renter demand. The asset also benefits from easy access to State Route 91 and Interstate 15, offering direct connectivity to major employment centers throughout the Inland Empire, Orange County, and greater Southern California.
Offered at a compelling 6.01% CAP rate on current rents, this is a rare opportunity to acquire a well-located multifamily asset with strong long-term fundamentals in a convenient, commuter-friendly Corona location.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Residents benefit from a strong amenity package including private patios (select units), on-site laundry, surface, carport, and garage parking, and individual water heaters for each unit, enhancing both resident quality of life and ease of property operations.
The property is ideally positioned within walking distance of Corona City Hall and the OBC Theater, placing residents near downtown amenities, civic services, and entertainment options. The surrounding neighborhood is further supported by two nearby retail centers anchored by Superior Grocers and Cardenas Markets, located approximately 0.25 miles from the property, providing convenient access to daily necessities.
Additionally, Jefferson Elementary School and Corona High School are located less than 0.5 miles away, supporting consistent long-term renter demand. The asset also benefits from easy access to State Route 91 and Interstate 15, offering direct connectivity to major employment centers throughout the Inland Empire, Orange County, and greater Southern California.
Offered at a compelling 6.01% CAP rate on current rents, this is a rare opportunity to acquire a well-located multifamily asset with strong long-term fundamentals in a convenient, commuter-friendly Corona location.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$158,280
|
$31.47
|
| Other Income |
$2,400
|
$0.48
|
| Vacancy Loss |
$4,748
|
$0.94
|
| Effective Gross Income |
$155,932
|
$31.01
|
| Taxes |
$18,276
|
$3.63
|
| Operating Expenses |
$39,961
|
$7.95
|
| Total Expenses |
$58,237
|
$11.58
|
| Net Operating Income |
$97,695
|
$19.43
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $158,280 |
| Annual Per SF | $31.47 |
| Other Income | |
|---|---|
| Annual | $2,400 |
| Annual Per SF | $0.48 |
| Vacancy Loss | |
|---|---|
| Annual | $4,748 |
| Annual Per SF | $0.94 |
| Effective Gross Income | |
|---|---|
| Annual | $155,932 |
| Annual Per SF | $31.01 |
| Taxes | |
|---|---|
| Annual | $18,276 |
| Annual Per SF | $3.63 |
| Operating Expenses | |
|---|---|
| Annual | $39,961 |
| Annual Per SF | $7.95 |
| Total Expenses | |
|---|---|
| Annual | $58,237 |
| Annual Per SF | $11.58 |
| Net Operating Income | |
|---|---|
| Annual | $97,695 |
| Annual Per SF | $19.43 |
PROPERTY FACTS
| Price | $1,625,000 | Property Subtype | Apartment |
| Price Per Unit | $232,143 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.33 AC |
| Cap Rate | 6.01% | Building Size | 5,029 SF |
| Gross Rent Multiplier | 10.11 | No. Stories | 1 |
| No. Units | 7 | Year Built | 1935 |
| Property Type | Multifamily | Parking Ratio | 2.39/1,000 SF |
| Price | $1,625,000 |
| Price Per Unit | $232,143 |
| Sale Type | Investment |
| Cap Rate | 6.01% |
| Gross Rent Multiplier | 10.11 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 5,029 SF |
| No. Stories | 1 |
| Year Built | 1935 |
| Parking Ratio | 2.39/1,000 SF |
AMENITIES
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 5 | - | - |
| Studios | 1 | - | - |
1 1
Walk Score®
Very Walkable (83)
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929-933 W 7th St
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