Tenant-Occupied Duplex with
For Sale
$600,000
4120 S Neece, Corona, CA 92879
Two leased residences benefit from recent building-system and exterior improvements in Corona.
Property Size1,380 SF
Price / SF$434.78
Days on Market52
Property Features for 4120 S Neece
General Information
Standard status
Active
Size
1,380 SF
Property subtype
Multi-Family
Building Details
Year Built
1968
Listing Agency:
Rise Realty
Listed By:
Philip Bendler · License #01747132
(949) 661-1400
Source:
Robertandchristy
Added: Aug 15
Changed: Oct 2
Last Checked: Oct 4 at 11:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rise Realty
Investment Insights
Based on property information with market context.
This Corona duplex contains two separate two-bedroom residences with approximately 1,380 square feet of combined living area. Both units are occupied by tenants, allowing the property to transfer with existing rental occupancy. The improvements include HVAC installed in 2024, a newer roof, replacement windows, and an upgraded electrical system.
The property sits on an approximately 9,583-square-foot lot at 4120 S Neece St. Its Corona setting provides access to shopping, dining, schools, services, and nearby freeway connections. The site also offers additional outdoor area, while any future expansion, added units, or ADU plans would require independent review and approval by the appropriate governmental authorities.
The property sits on an approximately 9,583-square-foot lot at 4120 S Neece St. Its Corona setting provides access to shopping, dining, schools, services, and nearby freeway connections. The site also offers additional outdoor area, while any future expansion, added units, or ADU plans would require independent review and approval by the appropriate governmental authorities.
Key Highlights
- Two separate 2‑bedroom units with approximately 1,380 total sq. ft.
- Approximately 9,583 sq. ft. lot at 4120 S Neece St, Corona, CA
- Both units are tenant‑occupied and transfer with existing rental occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,004
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$460,080
$460.1K
Cap Rate 7%
$328,629
$328.6K
Cap Rate 9%
$255,600
$255.6K
Market Conditions
NOI Build-Up for 1,380 SF
Gross rent
$34.8K $25.20/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$32.9K $23.81/SF
− OpEx
−$9.9K −$7.14/SF
NOI
$23.0K $16.67/SF
Area
Corona, CA
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$460,080
Cap Rate 7%
$328,629
Cap Rate 9%
$255,600
Alternative Uses
Best Use
Multifamily LT 5
$328.6K
$287.6K – $383.4K
NOI $23,004 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$296.0K
$259.0K – $345.4K
NOI $20,723 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$429.2K
$375.6K – $500.8K
NOI $30,046 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
957
Businesses Nearby
Explore this area
Business Placement
Demographics for 92879, CA
47,243
Population
14,919
Households
3.2
Avg Household Size
35
Median Age
23%
College-Educated
80%
High-School Grad
9.8 sq mi
ZIP Area
4,821
Density / Sq Mi
$91,862
Median Household Income
$42,496
Median Earnings
$1,968
Median Rent
$592,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two leased residences benefit from recent building-system and exterior improvements in Corona.
Where is this duplex located?
The property is located at 4120 S Neece Corona, CA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two separate 2‑bedroom units with approximately 1,380 total sq. ft.; Approximately 9,583 sq. ft. lot at 4120 S Neece St, Corona, CA; Both units are tenant‑occupied and transfer with existing rental occupancy
