16
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$3,595,000
Est. payment /mo
6,943 Sqft Lot
Active
4961-67 Coronado Ave. San Diego, CA 92107
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UPDATED:
01/22/2025 04:33 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250016931
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.
Location
State CA
County San Diego
Area Ocean Beach (92107)
Interior
Heating Wall
Cooling Other
Flooring Other/Remarks
Exterior
Exterior Feature Part Landscaped
Parking Features Spaces
Roof Type Shake
Total Parking Spaces 9
Building
Story 1
Lot Size Range .25 Acres or less
Others
Acceptable Financing Cash, Cash to New Loan
Space Rent $205,500
Listing Terms Cash, Cash to New Loan
Listed by Joseph A Burrough • Palma Commercial