Residential Income Property For
For Sale
$499,999
1329 Pleasant View Ave, Corona, CA 92882
Charming property with long-term tenant in desirable Corona neighborhood.
Property Size988 SF
Lot Size0.14 Acres
Days on Market170
Property Features for 1329 Pleasant View Ave
General Information
Standard status
Active
Size
988 SF
Lot size
0.14 Acres
Property subtype
Investment
Building Details
Building Size
988 SF
Year Built
1947
Stories
1
Units
1
Listing Agency:
BULLOCK RUSSELL real estate services
(949) 293-7679
Listed By:
Jake Bullock · License #02054323
(949) 293-7679
Source:
Elliman
Added: Mar 10
Changed: Aug 14
Last Checked: Aug 26 at 10:12AM
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 BULLOCK RUSSELL real estate services
Investment Insights
Based on property information with market context.
This residential income property presents an investment opportunity with a long-term tenant already in place, demonstrating a history of timely payments and providing immediate cash flow. The property is situated in a desirable neighborhood near downtown Corona. Recent upgrades include new piping, windows, and a water heater. Lease details and rent roll are available.
Key Highlights
- Long‑term tenant in place with a proven payment history, providing immediate cash flow.
- Located in a desirable neighborhood near downtown Corona.
- Recent upgrades include new piping, windows, and water heater.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,836
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$296,720
$296.7K
Cap Rate 7%
$211,943
$211.9K
Cap Rate 9%
$164,844
$164.8K
Market Conditions
NOI Build-Up for 988 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$28.5K $28.80/SF
− Vacancy
−$1.5K −$1.50/SF
EGI
$27.0K $27.30/SF
− OpEx
−$12.1K −$12.29/SF
NOI
$14.8K $15.02/SF
Area
Corona, CA
Vacancy
5.20%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$296,720
Cap Rate 7%
$211,943
Cap Rate 9%
$164,844
Alternative Uses
Best Use
Apartment 5plus
$211.9K
$185.5K – $247.3K
NOI $14,836 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$307.3K
$268.9K – $358.5K
NOI $21,512 @ 7.0% cap · market cap 4.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 92882, CA
67,894
Population
20,757
Households
3.3
Avg Household Size
36
Median Age
29%
College-Educated
85%
High-School Grad
11.8 sq mi
ZIP Area
5,754
Density / Sq Mi
$100,668
Median Household Income
$46,092
Median Earnings
$2,093
Median Rent
$653,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Charming property with long-term tenant in desirable Corona neighborhood.
Where is this residential income property located?
The property is located at 1329 Pleasant View Ave Corona, CA.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Long‑term tenant in place with a proven payment history, providing immediate cash flow.; Located in a desirable neighborhood near downtown Corona.; Recent upgrades include new piping, windows, and water heater.
