$3,950,000

1036 B Avenue

Coronado CA, 92118

Description

Rare Legacy Opportunity to own a fabulous income property located right in the heart of the famous Coronado Village. On the market for the first time in 26 years, this unique property is zoned "Commercial" with 7 residential units that have been "Grandfathered-in". Such wonderful Charm & Character... The City of Coronado does not currently regulate Short Term/Vacation rentals in Commercial zoning - so LOTS of opportunity for income upside. The front building consists of (4) One bedroom/ one bath units.. all interiors updated over the last 10-12 years. The rear building consists of three - charming studio units. The exteriors in 2020 have new 40 year Roofs, new stucco, new paint, new stairway carpeting, new landscaping, irrigation and sod. The courtyard features pavers, shared common areas, bike storage and shared coin operated laundry. 6 of the units are long term tenants with low rent - all MTM except one lease until June 2021. One unit is currently being furnished and converted to a short term rental in Dec 2020. This property is nestled into the Village and is just steps away from amazing restaurants, shopping and only 2 blocks from the Hotel Del Coronado and its famous white Sandy beaches, golf courses, tennis, etc... ultimate vacation destination! Future development possibilities in Commercial zoning.

Details

MLS#PTP2002013
Listing TypeFor Sale
StyleIndustrial
Sub-TypeResale
StatusActive
Year1945
Days On Site78

Features

SQ Feet3,692
Units7
ZoningCommercial - within OACS

Market Activity 92118

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Area Information
StateCA
CountySan Diego
CityCoronado
Zip Code92118
Area92118 - Coronado
Listing VS Median (in 92118)
Price:
$3,950,000
low | high
Med:
$12,000
100% of Average
SqFt:
3,692
low | high
Med:
3,798
47.128927410618% of Average
$ / SqFt:
$1,070
low | high
Med:
$3
100% of Average
On Site:
78
low | high
Med:
18
100% of Average
Listing Updated: January 24, 2021 1:50:26 PM PST
Maryann Hilvers Augustine LogoMLS Number: PTP2002013
Listing Provided By:
Maryann Hilvers Augustine  of  Frontline Realty Group
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.