308 Orange Ave, Coronado CA 92118 | $19,250,000

Status: Active
  • 0 bedrooms
  • 0 bathrooms
  • 0 Sq Ft
  • 0 Lot Sq Ft
  • Type: Commercial/Residential
  • Stories: 0
  • Year Built: 0
  • MLS#: 220017903SD
  • Community: 92118 - Coronado

Listing provided courtesy of Ken Pecus of eXp Realty of California, Inc. Last updated 2023-02-15 09:44:14.000000. Listing information © 2023 SANDICOR.

One of THE Legacy properties on The Crown Isle, welcome to DEL ISLAND! Introducing a truly cross-generational opportunity, the likes of which has not been seen in Coronado! This development site, which is easily recognized as one of the Landmark gateway properties when entering Coronado's main commercial district along Orange Avenue, offers exceptional possibilities. Currently housing 29 residential units with an excellent mix of studios, 1 bedrooms and 2 bedrooms, plus 30 off-street parking spaces. The location is just 2 blocks NE to the Bay and 4 blocks SW to the main commercial district, Spreckles park and schools, which invites a bevy of development possibilities. The property has been laced together over many decades and features 4 contiguous parcels totaling 28,000+ sf of highly coveted R4 zoning! Keep them as-is and remodel, or renew the Affordable Housing City Covenant, or wait until expiration in less than 4 years and develop a full market rate product. In all of San Diego County, you would be hard-pressed to find a prime urban and coastal development site like this that actually has a bonafide income stream, while you go through planning, design and permitting processes over the next few years. Or maybe... where better is there to just "Landbank" cash/equity than Coronado Island and leave as-is over the next number of years for perhaps estate legacy planning? Properties included in sale are: 1014-28 3rd St/APN#536-222-23-00 & 308 Orange Ave/APN#536-222-22-00 & 320-22 Orange Ave/APN#536-222-21-00 & 328-30 Orange Ave/APN#536-222-20-00.

More Details

Parking Spots: 30.00
Carport Spaces: 1.00
Construction Materials: Block
Construction Materials: Drywall Walls
Construction Materials: Frame
Construction Materials: Plaster
Construction Materials: Stucco
Construction Materials: Other
Heating: See Remarks

Carol Stanford

Call or Text: 619.987.8766

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