308-330 Orange Ave, Coronado, California

$19,250,000

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0.60

Acres

About 308-330 Orange Ave

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?

Features of 308-330 Orange Ave

MLS® # 220017903
Price $19,250,000
Acres 0.60
Type Commercial
Sub-Type Com-Res Income
Status ACTIVE

Community Information

Address 308-330 Orange Ave
Area CORONADO (92118)
City Coronado
County San Diego
State California
Zip Code 92118

Amenities

Amenities None
Parking Spaces 30
Parking Spaces

Interior

Heating Other/Remarks
Cooling Other
# of Stories 2
Stories 2 Story

Exterior

Exterior Remarks
Roof Other/Remarks
Construction Drywall, Frame, Lath/Plaster, Stucco, Other/Remarks, Block

Additional Information

Date Listed July 12th, 2022
Days on Market 104
Zoning R4
Short Sale No

Listing Details

OfficeeXp Realty of California, Inc

Listing Map

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