Commercial-res IncomeFor Sale Price $19,250,000 308-330 Orange Ave, Co

308-330 Orange Ave, Coronado, California 92118

0.60 Sqft
Active
$19,250,000
Listing ID #220017903
Property Description

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?

Basic Details
Property Type : Commercial-res Income
Listing Type : For Sale
Listing ID : 220017903
Price : $19,250,000
Lot Area : 0.60 Sqft
Status Category : Active
 
Address Map
US
California
SD
Coronado
CORONADO (92118)
92118
Orange Ave
308-330
W118° 49' 31.6''
N32° 41' 44.8''
Additional Info
eXp Realty
Ken
Pecus
12-09-2022 18:13:01
62
R4
.5 through .75 Acres
30
Click Here
26,351 Sqft
536-222-22-00
0
29
0
664000
22700
17250000
0
0
0
0
0
0
0
0
0
0
27856
0
29
0 Sqft
0 Sqft
320617.0
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