209-217 C Ave 5 Unit Apartment Building $3,050,000 ($610,000/Unit) 3.73% Cap Rate Coronado, CA 92118

It is a pleasure to present an ideally located five (5) unit multifamily property at 209-17 C Avenue in Coronado. Just two blocks from the Ferry Landing, this property has been well-maintained by current ownership (for 50+ years), with two units having undergone major renovations, and the others ripe for modernization. All units are well maintained, although some can be brought up to a higher level. The unit mix consists of three (3) 2BR/1BA units downstairs, each with a generous private enclosed patio, and two (2) spacious 2BR/2BA units upstairs in the back (near the alley), with a large private balconies and views to downtown San Diego. In addition to a common laundry room, a nicely manicured common lawn in front, and tasteful perimeter landscaping, there are five (5) surface off-street parking spaces, three of which are covered, and some of which may be used as tandem (2-vehicle) spaces if smaller cars. There is a laundry room on site with coin operated laundry equipment, as well as an owner storage room for materials/supplies.
The lower (3) 2br/1ba units are part of a single story structure that is estimated to have been built around +/-1960, while the 2nd story portion of the building featuring (2) upstairs 2br/2ba units w/ vaulted ceilings, was built around +/-1982.
Contact exclusive agent Joseph Burrough of Palma Commercial for more details, including to request an OM. Please do not go onto the property or disturb the tenants. Units can be shown with accepted/acceptable offer and POF.