712 S Howard St — Sale in Corona, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Corona, CA 92879

Photos

712 S Howard St — Sale in Corona, CA, photo 1 of 2
712 S Howard St — Sale in Corona, CA, photo 2 of 2

Investment Figures

Cap rate
5.04%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap Real Estate Investment Services is pleased to present the opportunity to acquire the Howard Apartments, a 10-unit multifamily investment property located at 712 S Howard Street in Corona, California. The property is currently operating at a 5.04% cap rate with rents approximately 20% below market, presenting investors with an attractive value-add opportunity and meaningful potential for future income growth. Effective January 2027, scheduled rental increases across all 10 units will generate an additional $950 per month in rental income, or approximately $11,400 annually. Based on current operating performance, the scheduled increases would result in an approximate ±5.60% cap rate, with additional upside toward a pro forma cap rate approaching 7.00%. Investment Highlights: • 10-unit multifamily investment opportunity in the heart of Corona • 5.04% current cap rate, January 2027 cap rate + 5.60% and a pro forma cap rate approaching 7.00% • Scheduled January 2027 rent increases will generate an additional $950 per month / $11,400 annually in rental income • Current rents approximately 20% below market, providing additional long-term rental upside • Six of the 10 units have been refurbished, including quartz countertops, with tile showers installed in seven units

Market Context

This multifamily in Corona, CA is listed for sale. It is offered at an approximate 5.0% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Corona, CA — view the full market.

As of Q1 2026, the Inland Empire multifamily market showed a 4.9% vacancy rate. Source: multiple brokerage reports, Q1 2026.

Tight vacancy keeps competition for quality space elevated.

Multifamily market FAQ

Is the Inland Empire multifamily market tightening or softening?
Vacancy is around 4.9% (Q1 2026).

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  • What is the asking price?
  • What is the current zoning, and does it allow my intended use?
  • How many parking spaces come with the property?

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