Updated Fourplex with
For Sale
$1,520,000
2321 Maryhelen St, Corona, CA 92879
Four-unit residential income property with updated plumbing, dual-pane windows, newer roofing, and air-conditioning improvements.
Property Size4,000 SF
Days on Market9
Property Features for 2321 Maryhelen St
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Investment
Units
Unit Mix
2 x 3BR/2BA, 2 x 2BR/1.5BA
Multifamily Units
4
Amenities
fireplaces
Building Details
Building Size
4,000 SF
Year Built
1990
Buildings
1
Stories
2
Units
4
Listing Agency:
CENTURY 21 Now Realty
Listed By:
Sharon Miller · License #00966171
(951) 734-6210
Source:
Elliman
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 16 at 5:04PM
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 CENTURY 21 Now Realty
Investment Insights
Based on property information with market context.
This fourplex contains four residential units with a mix of two three-bedroom units and two two-bedroom units. Property improvements include updated plumbing throughout, energy-efficient dual-pane windows, a newer roof, two newer air conditioners, and two updated kitchens. Fireplaces are present in the units, and garage parking is provided for each unit.
The property is located in Corona Hills within the city of Corona. Walk Score is 79, indicating a very walkable setting, while Bike Score is 58 and Transit Score is 33. Built in 1990, the asset combines a four-unit configuration with several reported system and interior updates.
The property is located in Corona Hills within the city of Corona. Walk Score is 79, indicating a very walkable setting, while Bike Score is 58 and Transit Score is 33. Built in 1990, the asset combines a four-unit configuration with several reported system and interior updates.
Key Highlights
- Four‑unit residential income property in Corona Hills
- Updated plumbing throughout all four units
- Energy‑efficient dual‑pane windows across the building
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
$66,679
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
4.39%
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%
$1,333,580
$1.3M
Cap Rate 7%
$952,557
$952.6K
Cap Rate 9%
$740,878
$740.9K
Market Conditions
NOI Build-Up for 4,000 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
$100.8K $25.20/SF
− Vacancy
−$5.5K −$1.39/SF
EGI
$95.3K $23.81/SF
− OpEx
−$28.6K −$7.14/SF
NOI
$66.7K $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 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%
$1,333,580
Cap Rate 7%
$952,557
Cap Rate 9%
$740,878
Alternative Uses
Best Use
Multifamily LT 5
$952.6K
$833.5K – $1.11M
NOI $66,679 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$858.1K
$750.8K – $1.00M
NOI $60,065 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,091 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
509
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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Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Four-unit residential income property with updated plumbing, dual-pane windows, newer roofing, and air-conditioning improvements.
Where is this quadplex located?
The property is located at 2321 Maryhelen St Corona, CA.
What is the asking price?
The asking price for this property is $1,520,000.
What are key features of this property?
This property features: Four‑unit residential income property in Corona Hills; Updated plumbing throughout all four units; Energy‑efficient dual‑pane windows across the building
