830 E Ave Coronado, CA 92118
- Apartment buildings
- 7,274 SF
Current Use by Public Records
- Apartment buildings
Property Details for 830 E Ave
- Year built
- 1965
- Property size
- 7,274 SF
- Property type
- Apartment buildings
Description
This exceptional value-add opportunity presents a six-unit apartment building located at 830 E Ave, Coronado, CA 92118. The property consists of five two-bedroom, one-and-a-half-bathroom townhome-style units and one three-bedroom, two-bathroom unit, totaling 7,274 square feet on a 7,337 square foot lot. Built in 1965, this two-story, Class B building sits on a fee simple lot and features a recently installed roof (within the last year). Each unit includes laundry hookups. Five single parking spaces are conveniently located in the alley. The property boasts a desirable location, within walking distance of Coronado Center Beach, Orange Avenue's shops and restaurants, and Coronado High School. Its proximity to the Naval Air Station North Island and the U.S. Naval Amphibious Base further enhances its appeal. The current Net Operating Income (NOI) is $112,113, with a pro-forma NOI of $239,976, reflecting a significant value-add potential. The asking price is $4,375,000, representing a price per unit of $729,167 and a price per square foot of $601.46. The property is zoned R-4. This investment presents a rare chance to acquire a multifamily property in a highly sought-after coastal location with strong potential for increased profitability. The property's location offers an 89 Walk Score, highlighting its convenient access to amenities and attractions.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Coronado
- County
- San Diego
- State
- California
- Longitude
- -117.181
- Latitude
- 32.6893
