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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 42 out of 103
$6,295,000 For Sale

1111 Adella
Coronado, CA 92118

13 units | Multi Family 5+ - MLS# 190021311
Property Photo
1/18

Description

This is an excellent 13 unit apartment investment in Coronado, California. It is extremely rare for an asset of this size to come on the market in Coronado. The location of this property is in the most coveted area of Coronado - close to beaches, bay and the Hotel Del Coronado. This asset has been well maintained and still has that late 50's beach vibe. The unit mix is excellent, with 6 - two bedroom/one bath units, 3 - one bedroom/one bath units, and 4 studios. The rents are very close to market, and there is an opportunity to increase cash flow through improved management practices. This is the perfect opportunity for an investor to buy in one of the most coveted real estate markets in California and enjoy cash flow along with appreciation. **DO NOT WALK ON PROPERTY OR DISTURB TENANTS. SHOWN ONLY WITH AN ACCEPTED OFFER**

Features

  • Property Type: Multi Family 5+
  • Sub Type: Multi Family 5+
  • Listing Status: Active
  • County/Area: San Diego County
  • Zip Code: 92118
  • Age: 63
  • Stories: 2 Story
  • Units: 13 units
  • Zoning: R4
  • # of Baths (1): 1
  • # of Baths (2): 1
  • # of Baths (3): 1
  • # of Bedrooms (1): 2
  • # of Bedrooms (2): 1
  • # of Buildings: 1
  • # of Leased Apartments: 13
  • # of Stories: 2
  • # of Units (1): 6
  • # of Units (2): 3
  • # of Units (3): 4
  • Actual Gross Schd Income: 367800
  • Actual Operating Expense: 119515
  • Cap Rate Actual: 3.83
  • Construction: Frame, Lath/Plaster
  • Cooling: Wall/Window
  • Floor Covering: Tile, Wall to Wall Carpet
  • Floors: Slab, Wood
  • Gross Equity: 6295000
  • Heating: Wall
  • Listing Area: CORONADO (92118)
  • Lot Size Area: .25 Acres or less
  • Lot SqFt: 12898
  • Monthly Rent Total: 29793
  • Parking: Carports, Spaces, 13-Car
  • Roof: Tar & Gravel
  • Siding: All Auto Sprinklers, Cable Available, Fully Landscaped, Part Fenced
  • SqFt Source: Tax Record
  • SqFt of Improvement: 8795
  • Tenant Pays Electric: Yes
  • Tenant Pays Gas: Yes
  • Terms: Cash, Cash to New Loan
  • Unit Rent (1): 2445
  • Unit Rent (2): 2261
  • Unit Rent (3): 2085
  • Unit Rent Total (1): 14670
  • Unit Rent Total (2): 6783
  • Unit Rent Total (3): 8340
  • Unit Type: Apartment
Courtesy of Acre Investment Real Estate


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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