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? 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. Amenities: None

Features
: See remarks
Additional Information
eXp Realty
0
SAND-2080
SAND-5963
Ken
5362222200

Commercial Sale For Sale

308 Orange Ave, Coronado, California 92118

$19,250,000
Listing ID #220017903SD
Basic Details
Status : Active
DaysOnMarket : 63
Property Type : Commercial Sale
Listing Type : For Sale
Listing ID : 220017903SD
Price : $19,250,000
Country : US
State : California
County : San Diego
City : Coronado
Zipcode : 92118
ModificationTimestamp : 2022-09-12 13:16:16
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