$4,400,000
$4,995,000
11.9%For more information regarding the value of a property, please contact us for a free consultation.
7,000 Sqft Lot
SOLD DATE : 08/12/2022
Key Details
Sold Price $4,400,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 220013757
Sold Date 08/12/22
Lot Size 7,000 Sqft
Lot Dimensions 50x140
Property Description
Rare opportunity to purchase a 5 (five) unit apartment complex located in the highly desirable beach community of Coronado. The property has been family owned for over 25 years, providing new ownership the opportunity to renovate apartment interiors to achieve significant rent premiums comparable to surrounding luxury rentals. The property boasts a favorable unit mix including 4 - 2 Bedroom/1Bath apartments and 1 - Studio apartment. Amenities include a spacious outdoor common area, off street parking and onsite laundry. DEVELOPMENT OPPORTUNITY - One of few remaining R-3 development sites in Coronado. Zoning allows for a 4 unit cloud Single Family development. All tenants on month-to-month tenancies.
Location
State CA
County San Diego
Area Coronado (92118)
Zoning R-3
Interior
Heating Central Forced Air Gas
Flooring None
Laundry Owned
Exterior
Exterior Feature None
Parking Features Spaces
Roof Type Composition
Total Parking Spaces 4
Building
Story 2
Lot Size Range .25 Acres or less
Others
Acceptable Financing Cash to New Loan
Space Rent $101,760
Listing Terms Cash to New Loan
Financing Cash
Special Listing Condition Estate
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Bought with Ken Nagel • Salas Properties
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "