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Multifamily

Eleven Eleven Adella

1111 Adella Ave, Coronado, CA 92118

Listing Price: $7,700,000

Cap Rate
3.25%
Number of Units
13
GRM
20.04
Occupancy
97.0%
Price/Unit
$592,308
Price/Gross SF
$843.00
Gross SF
9,134

Investment Overview

Marcus & Millichap is pleased to present the very rare opportunity to acquire a 13-unit multifamily property on Coronado Island in San Diego. Coronado Island is some of the most coveted real estate in all Southern California making it highly desirable for any real estate investor. Constructed in 1956, this property rests on a 12,898 SF lot and offers 9,134 of rentable SF.

Eleven Eleven Adella is comprised of (6) 2-Bedroom/1-Bathroom units, (3) 1-Bedroom/1-Bathroom units, and (4) large studio units. This property has undergone significant renovations over the last five years with more room to add value through finishing the upgrades and an exterior makeover. Units feature new tile plank flooring, upgraded kitchens, bathrooms, and large windows. Tenants enjoy access to off-street parking, wall unit air conditioning, and an on-site laundry room.

With the high demand and low supply of rental housing in Coronado Island, the new owner will have the ability to increase rents as is or improve the property to boost rents even farther. Located less than a block away from the world-famous Hotel Del Coronado, this asset is perfectly situated in one of Californias most desirable markets positioning it for a high level of appreciation in the years to come.

Investment Highlights

  • Highly Coveted Southern California Real Estate
  • 1 Block to the Beach & Less Than a Block to The Renowned Hotel Del Coronado
  • Future Redevelopment Potential - Large Lot of Almost 13,000 SF
  • Expansive Courtyard for Tenant Enjoyment
  • Off-Street Parking - 12 Spaces

Exclusively Listed By

Listing Price: $7,700,000

Cap Rate
3.25%
Number of Units
13
GRM
20.04
Occupancy
97.0%
Price/Unit
$592,308
Price/Gross SF
$843.00
Gross SF
9,134

Investment Highlights

  • Highly Coveted Southern California Real Estate
  • 1 Block to the Beach & Less Than a Block to The Renowned Hotel Del Coronado
  • Future Redevelopment Potential - Large Lot of Almost 13,000 SF
  • Expansive Courtyard for Tenant Enjoyment
  • Off-Street Parking - 12 Spaces

Investment Overview

Marcus & Millichap is pleased to present the very rare opportunity to acquire a 13-unit multifamily property on Coronado Island in San Diego. Coronado Island is some of the most coveted real estate in all Southern California making it highly desirable for any real estate investor. Constructed in 1956, this property rests on a 12,898 SF lot and offers 9,134 of rentable SF.

Eleven Eleven Adella is comprised of (6) 2-Bedroom/1-Bathroom units, (3) 1-Bedroom/1-Bathroom units, and (4) large studio units. This property has undergone significant renovations over the last five years with more room to add value through finishing the upgrades and an exterior makeover. Units feature new tile plank flooring, upgraded kitchens, bathrooms, and large windows. Tenants enjoy access to off-street parking, wall unit air conditioning, and an on-site laundry room.

With the high demand and low supply of rental housing in Coronado Island, the new owner will have the ability to increase rents as is or improve the property to boost rents even farther. Located less than a block away from the world-famous Hotel Del Coronado, this asset is perfectly situated in one of Californias most desirable markets positioning it for a high level of appreciation in the years to come.

Exclusively Listed By

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