Coronado Investment Opportunity!
Rare Coronado Opportunity! 8 unit apartment complex available for sale in Coronado, CA. Currently improved as apartments, this property is zoned hotel/motel and could be developed as such. The property is located next door to the Glorietta Bay Inn and is on a quiet street only 1 block to restaurants and 2 blocks to the beach.
The current unit mix consists of 2-2 bedroom, 1 bath apartments and 6-1 bedroom, 1 bath apartments. Property includes 7 parking spots, community BBQ area, and on-site laundry! Additionally, there is a storage unit that is currently rented with one of the 2-bedroom units.
Current rent roll is as follows:
| Unit # | Type | Rent |
| 1 | 2 bed/1 ba | $1650 |
| 2 | 2 bed/1ba | $1650 |
| 3 | 1 bed/1ba | $1150 |
| 4 | 1 bed/1ba | $1150 |
| 5 | 1 bed/1ba | $925 |
| 6 | 1 bed/1ba | $1150 |
| 7 | 1 bed/1ba | $1150 |
| 8 | 1 bed/1ba | $1200 |
For information on the potential development opportunities for this property, contact Dave Gillingham. Dave has developed many properties, including the nearby 1906 Lodge at Coronado Beach, which is currently the #1 Hotel and Business in Coronado on Tripadvisor.com. Dave has researched the setbacks and zoning restrictions, and projects a potential 20-unit hotel could be built on the site. Ask him about why parking makes the crucial difference in how large of a hotel that could be built.
Dave can be reached either at (619) 992-5318 or at Dave@coronado-realty.com.
- Address
- Coronado, California
- Price
- $2,800,000
- Phone Number
- (619) 435–0145
- For Sale
- Yes
- Property Description
- Coronado Investment Opportunity
