16
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$3,595,000
Est. payment /mo
6,943 Sqft Lot
New
4961 Coronado Ave. San Diego, CA 92107
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UPDATED:
01/22/2025 04:37 AM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250016931SD
HOA Y/N No
Lot Size 6,943 Sqft
Property Description
Welcome to paradise at this super beach-proximate South Ocean Beach stunner, an eight (8) unit apartment property located at 4961-67 Coronado Avenue, just steps from the coast and 1.5 blocks from beach access at Santa Cruz Cove Beach. Also walking distance to Newport Avenue retail and Sunset Cliffs Trails, the “OB Farmhouse” boasts about as good of a coastal rental location as one can ask for. Comprised of all one-bedroom/one-bathroom units that average +/-410 SF in size, and featuring nine (9) surface off-street parking spaces, this property has undergone a beautiful transformation over the past several years via capital improvements, repairs, and bringing rents to market. Recent property upgrades include: installation of new dual-pane vinyl windows; electrical system upgrades; roof repairs; and unit interior renovations. Perched upon a +/-6,700 SF lot with good elevation above sea level relative to the immediate area, the single-story structure has +/-3,280 SF of rentable building area, and was built in/around 1955 of wood frame construction upon an elevated foundation with a pitched shake-shingle roof. The OB Farmhouse has attractive curb appeal, including recently repainted stucco exterior, modern signage, and some hardscape with tasteful drought-tolerant landscaping. These efficient units are separately metered for gas and electricity, operating on city trash services. The astute premium market multifamily investor may look to keep this as long-term rentals and perhaps update their maximum rental potential further by adding some form of laundry on-site. One may also consider operating one or more units as short-term rentals as permitted by local code, given this highly desirable beach proximate location, and the dearth of affordable short-term lodging in the South Ocean Beach area. Nine parking spaces is also a huge plus in this highly parking-constrained area!
Location
State CA
County San Diego
Area 92107 - Ocean Beach
Interior
Heating Wall Furnace
Fireplace No
Exterior
Roof Type Shake
Total Parking Spaces 9
Others
Tax ID 4481610600
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Listed by Joseph Burrough • Palma Commercial