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- LoopNet Team
814 4th St
Coronado, CA 92118
Coronado Apartments · Multifamily Property For Sale
·
10 Units
INVESTMENT HIGHLIGHTS
- Rare Coronado Multi-Family Opportunity
- Plenty of Off Street Parking, Garages, Laundry
- Ad Value Opportunity
- Well Maintained, Some Units Renovated
PROPERTY FACTS
| No. Units | 10 | Building Size | 4,818 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1945 |
| Building Class | C | Parking Ratio | 1.87/1,000 SF |
| Lot Size | 0.16 AC | ||
| Zoning | R3 | ||
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,818 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1945 |
| Parking Ratio | 1.87/1,000 SF |
| Zoning | R3 |
ABOUT 814 4TH ST , CORONADO, CA 92118
Pleased to present 10 Units in the coveted and rarely traded Coronado, CA Sub-market. These 10 very well maintained units have been held by the same owner for over 20 years and professionally managed. Although most of the units have long term tenants with rents 40% below market an investor should take comfort that the building should be in above average condition for the vintage. This is a perfect example of an Ad Value Opportunity in one of the best coastal markets in the United States. 2 of the 10 units have been updated. There is immediate upside in continuing the renovation process and achieving a Pro Forma Cap rate of close to 5%. The property is available for $365,000/unit which is well below the cost for other recently sold Apartment Units nearby. The mix is diverse with 2 Studios, 7 1BR/1Bath and 1 2BR/1Bath units. In addition there is a laundry room, 10 Off-Street Parking Spaces and 2 Garages.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | $1,275 | 500 - 550 |
| 2+1 | 1 | $1,650 | 668 |
| Studios | 2 | $1,013 | 325 |
PROPERTY TAXES
| Parcel Number | 536-293-19 | Improvements Assessment | $1,187,261 |
| Land Assessment | $2,164,864 | Total Assessment | $3,352,125 |
PROPERTY TAXES
