CT Realty Buys 6-Building Complex in Corona for $10.85M

Multifamily Property at 915 S. Smith Fetches $130,723 Per Unit

CT Realty Corp. sold Corona Village at 901 -915 S. Smith Ave. in Corona, CA, to The Korda Group for $10.85 million, or about $130,723 per unit.

Corona Village is a six-building, 83-unit garden style property totaling 68,890 square feet. The seller reportedly spent roughly $12,000 per unit on interior and exterior renovations from the time of its acquisition (November 2003) until the offering period. The seller's capitalization rate was based on gross scheduled income using rents at the time of sale. It is reported that no deferred maintenance or conditions to the sale impacted the final sales price.