736-746 E Ave - Apartments FOR SALE


Coronado, CA 92118
$4,050,000 USD
858-352-6742
736-746 E Ave, Coronado, CA for Sale
$4,050,000 USD
Apartments - FOR SALE
1/22
null | 3.98% Cap Rate

736-746 E Ave
Coronado, CA 92118


HIGHLIGHTS

  • Excellent Coronado Location! Walk to Coronado High, Spreckels Park, and a wide array of Shops, Restaurants, Cafes, and much more
  • Close Proximity to Coronado Beaches, Hotel Del Coronado, the Ferry Landing, et al.
  • Charming Design with Fantastic Unit Mix: Two (2) 2Br/2Ba; Four (4) 3-Br/2Ba Units
  • Elevated Foundation in Front, Pitched (Hip) Roofs at Both Buildings, Separately Metered for Gas & Electricity, Individual Water Heaters
  • Ripe with Upside Potential via Modernization Similar to Higher End Units in the Immediate Area
  • Several Recent Updates to the Property, including Vinyl Plank Flooring and Ceiling Fans in Select Units

OVERVIEW

Presenting a highly coveted six-unit multifamily asset, ideally situated in Coronado, just steps from Coronado High School, within close proximity to beaches, bays, parks, and a wide array of shops and restaurants. The unit mix consists of: Two (2) 2-bedroom/2-bathroom units; and Four (4) 3-bedroom/2-bathroom units, averaging +/-1,081 SF each (across all units). There are five (5) surface off-street parking spaces, as well common area laundry equipment. Units are separately metered for gas and electricity, and each unit has its own water heater. There is a common lawn in front, perimeter trees/shrubs, as well as several bike storage areas around the property. Well built with pitched (hip) roofs across both two-story buildings, the front building rests on an elevated foundation, and its units have wall or floor heating. The rear building is built upon a concrete on grade (slab) foundation, and features central heating. While several units have been updated with vinyl plank flooring, ceiling fan/light fixtures, and renovated bathrooms in some cases, the astute multifamily investor may choose to pursue a comprehensive modernization sufficient to justify upper market rents for the area, given the superb Coronado location and generous unit sizes. Contact exclusive listing broker Palma Commercial via agent Joseph Burrough for more details, at 858 352-6742, including to request a full Offering Memorandum, additional imagery, et al. Please do not go onto the property or disturb the property residents. Some units may be shown with acceptable offer and proof of funds, although we intend to keep foot traffic to a minimum, out of respect for the tenants' right to privacy during the process.

FOR SALE DETAILS

PRICE

$4,050,000 USD

PRICE/SF

$779 USD /SF

# OF UNITS

6

PRICE/UNIT

$675,000

CAP RATE

3.98%

% LEASED

84%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1948

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

R3, Coronado

APN/PARCEL ID

537-072-21

ASK ABOUT THIS PROPERTY

Joseph BurroughPalma CommercialMore Info
858-352-6742

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Joseph BurroughPalma CommercialMore Info
858-352-6742

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