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Colleen K Cotter

Colleen K. Cotter
Broker / Owner

CA DRE 01325265
San Diego, California

619-804-6840
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Listing 57 out of 103
$7,995,000 For Sale

1012 - 1028 A Avenue
Coronado, CA 92118

18 units | Multi Family 5+ - MLS# 190018831
Property Photo
1/19

Description

Ascent Real Estate is proud to present an exclusive opportunity to acquire a generational asset, prime for improvement or redevelopment. Lori Manor, a trophy asset comprised of 18 units, is located only 1 block from the iconic Hotel Del Coronado, World Famous Coronado Beach, and all of Coronado's premier dining, nightlife, and shopping. Under market rents and a majority of month to month tenants offer the astute investor looking to capitalize on the changing landscape of Coronado's epicenter a perfect opportunity to add additional capital to improve and redefine the largest multi family offering in Coronado in over 25 years.

Features

  • Property Type: Multi Family 5+
  • Sub Type: Multi Family 5+
  • Listing Status: Active
  • County/Area: San Diego County
  • Zip Code: 92118
  • Age: 1954
  • Stories: 2 Story
  • Units: 18 units
  • Zoning: R3
  • # Units w/Dishwashers: 12
  • # of Baths (1): 1
  • # of Baths (2): 6
  • # of Bedrooms (1): 2
  • # of Buildings: 2
  • # of Leased Apartments: 18
  • # of Stories: 2
  • # of Units (1): 12
  • # of Units (2): 6
  • # of Units w/Disposals: 13
  • # of Units w/Drapes: 18
  • # of Units w/Ranges: 12
  • # of Units w/Refrigerator: 12
  • Actual Gross Oper Income: 351936
  • Actual Gross Schd Income: 366600
  • Actual Operating Expense: 163811
  • Amenities: BBQ
  • Cap Rate Actual: 2.35
  • Cap Rate Projected: 3.31
  • Construction: Drywall, Frame, Stone
  • Floor Covering: Hardwood, Vinyl, Wall to Wall Carpet
  • Floors: Wood
  • Heating: Wall
  • Laundry: Leased
  • Listing Area: CORONADO (92118)
  • Lot Dimensions: irregular
  • Lot Size Area: .25 through .50 Acres
  • Lot SqFt: 15217
  • Monthly Rent Total: 30550
  • Parking: Spaces, 9-Car
  • Proj Gross Multiplier: 17.9
  • Proj Gross Operating Inc: 428198
  • Proj Operating Expense: 163811
  • Proj Vacancy & Credit Los: 17841
  • Proj. Gross Sched. Income: 446040
  • Projected Net Income: 264411
  • Roof: Tar & Gravel
  • Siding: Community Facilities, Fully Landscaped, Metal Fence, Part Fenced
  • Special: Sellers Are RE Licensees
  • SqFt Source: Buyer to Verify, Tax Record
  • SqFt of Improvement: 10350
  • Tenant Pays Electric: Yes
  • Tenant Pays Gas: Yes
  • Terms: Cash, Cash to New Loan, Exchange Down, Exchange Up
  • Unit Furnished (2): 1
  • Unit Rent (1): 1980
  • Unit Rent (2): 1130
  • Unit Rent Total (1): 23770
  • Unit Rent Total (2): 6780
  • Unit Type: Apartment
Courtesy of Ascent Real Estate, Inc


4833 Santa Monica Ave Ste 7854
Ocean Beach, CA 92107
 619-804-6840
 colleen@mysandiegoagent.com
CA DRE#01325265

Testimonials

As a first time home buyer, I could not have asked for someone more compassionate and reliable to be on my team. Colleen showed a personal interest in helping me find the perfect home, and stood with me every step of the way. She was always available when I needed help or advice. I put my utmost trust and faith in her and she never let me down. Exceptional to other real estate agents, she took the time to explain the process and what to expect, and this was critical to my finding a home I love. I would recommend her ten times over. Thanks, Colleen! Olivia Simpson
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