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Reduced! Coronado Apartments for Sale in Zoned Hotel/Motel

Posted by: raindrop 6 years ago

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Coronado Apartment Complex reduced to $2,800,000!

1610 Glorietta Blvd 


Rare Coronado Opportunity!  8 unit apartment complex available for sale in Coronado, CA.  Currently improved as apartments, this property is zoned hotel/motel and could be developed as such.  The property is located next door to the Glorietta Bay Inn and is on a quiet street only 1 block to restaurants and 2 blocks to the beach.

The current mix consists of 2-2 bedroom, 1 bath apartments and 6-1 bedroom, 1 bath apartments.  Property includes 7 parking spots, community BBQ area, and on-site laundry!  Additionally, there is a storage unit that is currently rented with one of the 2-bedroom apartments.

Current rent roll is as follows:

Apartment  Type Rent
1 2 bed/1 ba $1650
2 2 bed/1ba $1650
3 1 bed/1ba $1150
4 1 bed/1ba $1150
5 1 bed/1ba $925
6 1 bed/1ba $1150
7 1 bed/1ba $1150
8 1 bed/1ba $1200


For information on the potential development opportunities for this property, contact Dave Gillingham.  Dave has developed many properties, including the nearby 1906 Lodge at Coronado Beach, which is currently the #1 Hotel and Business in Coronado on Tripadvisor.com.  Dave has researched the setbacks and zoning restrictions, and projects a potential 20-unit hotel could be built on the site.  Ask him about why parking makes the crucial difference in how large of a hotel that could be built.

Dave can be reached either at (619) 992-5318 or at Dave@coronado-realty.com.

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