948 D Ave

Coronado Beach South Island, Coronado, CA 92118

$5,000,000
Commercial / Office

Property Description

Pleased to present for sale 948 D Avenue, a 7-unit value-add apartment building located on Coronado Island. Constructed in 1913, this asset has two buildings on one 6,873 SF lot. The front building is comprised of (2) Studio units, (2) 1-Bedroom/1-Bathroom units, and (1) Studio + Loft unit. The back building has (2) 2-Bedroom/1-Bathroom units above (4) single car garages. The property features a communal laundry room and storage units. Long term ownership with several long-term tenants creates a unique opportunity for the next owner to dramatically improve operations through renovating units and maximizing rental income. This property is historic and may offer potential tax savings through the California Mills Act Program. Being in the heart of Coronado, this offering is within walking distance of all the unique attractions the city has to offer, from white sand beaches to signature shops, bars, and restaurants located on Orange Avenue. The city of Coronado is one of the most exclusive real estate markets in California and has one of the lowest vacancy rates in the country, making 948 D Avenue a generational asset poised for appreciation.
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PROPERTY DETAILS

  • Property Type
    Commercial / Office
  • MLS/Listing ID
    220029646SD
  • Days On Market
    50
Listing Courtesy of Marcus & Millichap, Listing Agents Carson Trujillo - CA DRE Lic. #01974818 - 858-373-3285