$8,028,000
$8,000,000
0.4%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 11/04/2022
Key Details
Sold Price $8,028,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 220007346SD
Sold Date 11/04/22
HOA Y/N No
Year Built 1949
Property Description
Pleased to present for sale Coronado Carriage Quarters, a 2-suite luxury vacation rental on Coronado Island with attractive future redevelopment potential. Resting on a 7,294 SF lot, this property offers 2,920 SF of current rentable area. This unique opportunity has a rare hotel/motel zoning designation enabling investors to capitalize on short term rentals in one of the top destinations for tourism in the United States. Anywhere on the Island outside of this zoning requires a 26-night minimum. Coronado Carriage Quarters is located at 1113 Adella Avenue, just across the street from the world renown Hotel Del Coronado and the Pacific Ocean. Investors may continue to operate this profitable vacation rental as is or redevelop the site to maximize zoning potential. The hotel/motel zoning designation allows for a variety of uses and this designation is exclusive to only two spots on the island. This luxury property features 2 spacious residences: (1) 3-bedroom/3-bathroom and (1) 3-bedroom/1.5-bathroom. Each residence is located on its own floor and is rented fully furnished for guests. The property has been elegantly renovated with high end finishes and features a modern interior design. Guests enjoy access to a private communal courtyard, off street parking (5 spaces), and central heating and air conditioning. Coronado is one of the most exclusive real estate markets in Southern California making 1113 Adella a generational asset. Across the street from the #1 ranked beach in the United States, this legacy property is positioned for a high level of appreciation in the years to come. Sewer: Sewer Connected Unit # for Unit 1: 100 Unit # for Unit 2: 200 Number of Furnished Units: 2
Location
State CA
County San Diego
Area 92118 - Coronado
Zoning HM
Interior
Heating Forced Air
Cooling Central Air
Fireplace No
Exterior
Community Features Gated
Roof Type Concrete
Building
Story 2
Entry Level Two
Level or Stories Two
Others
Senior Community No
Tax ID 5375701000
Security Features Gated Community
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash
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Bought with Maria Lopez • Mr Agent RE