801-807 Coronado Ct - Apartments FOR SALE


San Diego, CA 92109
$5,295,000 USD
858-761-2529
801-807 Coronado Ct, San Diego, CA for Sale
$5,295,000 USD
Apartments - FOR SALE
1/10
null | 3.02% Cap Rate

801-807 Coronado Ct
San Diego, CA 92109


HIGHLIGHTS

  • Steps from the stunning Southern California shoreline and boardwalk
  • Two contiguous five-unit parcels offered together or individually
  • Well maintained trophy asset located in the highly desirable South Mission Beach neighborhood of San Diego
  • Desirable unit mix comprised of 1- and 2-bedroom floorplans
  • Highly desirable one to one parking ratio per unit in South Mission Beach
  • Exceptional walkability to countless restaurants, coffee shops, and bars

OVERVIEW

We are pleased to present 801 & 807 Coronado Ct, two contiguous five-unit properties located in the coveted South Mission Beach neighborhood of San Diego, CA. Originally built in 1948 with recent upgrades in the past five years, the subject property features eight (8) one-bedroom/one bathroom units ranging from 450 to 550 square feet, two (2) two-bedroom/one-bathroom units ranging from 850-950 square feet, and ten (10) carport parking spaces in the rear of the building. The property is situated on 0.17-acres and has 5,660 square feet of rentable space. This property presents a unique opportunity for an investor to purchase a value-add investment opportunity in one of the strongest submarkets at the forefront of rental growth in San Diego. The new owner will enjoy the security of having the property situated near comparable apartment complexes, local shopping, and infrastructure, as well as having easy access to the California coastline. The property has been well maintained with many upgrades and improvements in recent years and boast onsite laundry facilities. Interiors are spacious and well-appointed with vinyl plank flooring, new windows, and upgraded kitchens and baths in select units. The property is situated in the heart of South Mission Beach, one of San Diego’s most iconic and desirable coastal neighborhoods, nestled between the Pacific Ocean and Mission Bay. It is a narrow strip of land offering both oceanfront and bayfront living, with easy access to two unique waterfront experiences. Mission Beach is mostly comprised of high-end single-family homes, condo residences, and luxury apartments. Mission Beach is perceived to be among the best multifamily investment neighborhoods in San Diego, along with Del Mar, Coronado, and La Jolla. Owners tend to hold on onto investments long-term in this prized location, and as a result, multifamily investment opportunities are seldom seen on-market. With proximity to the beach and a myriad of local shops, restaurants, and entertainment, residents can fully enjoy the idyllic Southern California lifestyle.

FOR SALE DETAILS

PRICE

$5,295,000 USD

PRICE/SF

$934 USD /SF

# OF UNITS

10

PRICE/UNIT

$529,500

CAP RATE

3.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1948

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

Multiple Unit Zoning

APN/PARCEL ID

423-717-01,423-717-02

ASK ABOUT THIS PROPERTY

Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

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Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.