308-330 Orange Ave

Coronado, CA, 92118

$19,250,000

$848 per ft²
$19,250,000
$848 per ft²
Active
Active
 - For Sale
beds
5 Beds
carpenters-square
22,700 ft²
property_type
Other
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 26,000+ 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?
MLS® ID:
220017903
Listed:
7/11/22
Updated:
8/11/22

Interior Features

Kitchen Appliances
Range, Refrigerator
Total Bedrooms
5
Total Bathrooms
0
Floor Description
See Remarks, Other
Cooling
Other
Heating
Other/Remarks

Exterior/Building Features

Lot Size
0.6 acres lot
Exterior Features
Remarks
Roof
Other

Other Property Details

Area Name
South Bay
HOA Amenities
None
Garage
No
Parking
Spaces
Parking Total
30.0
View
N
County
San Diego
Pool
No
Total Stories
2
Zoning
R4

 

Courtesy of Ken Pecus, eXp Realty 

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Data last updated 7:57 PM UTC, 8/11/22

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