Description

It is an honor to present for sale, this uniquely well-located five (5) unit Coronado isle apartment property! Just 5 blocks from the beach and 1 block from Coronado High School, an astute local investor can improve performance at this site by 1) continuing to renovate the units, sufficient to justify upper market rents, and/or 2) eventually building new, thirty foot high townhome-style units (with individual APNs) for resale. The lot is favorably zoned R-3, which should allow for up to four (4) such units to be developed. The current buildings contain five (5) 1-Bedroom/1-Bathroom units, several of which have been beautifully renovated. Each unit has its own patio area, front and rear entry access, and either hardwood or luxury vinyl plank flooring. Some units have upgraded kitchens and bathrooms. There is a well manicured common lawn in front and along the length of the courtyard, great for sitting/relaxing and taking in some vitamin D. Well-positioned lawn chairs and a few mature trees (orange and cypress) add to the charming beach-vibe that this property exudes.