29 units on Coronado for $410,000/unit 308-330 Orange Ave

Don't miss out on this once-in-a-lifetime chance to acquire 29 units on over 28,000 SF of prime generational real estate in the exclusive community of Coronado. Situated on 8 contiguous lots in the highest density zoning is one of the largest development sites available in over a decade. The "Del Island" presents a unique investment opportunity. Currently comprising twenty-nine (29) units of studios, 1-bedroom, and 2-bedroom layouts with thirty (30) off-street parking spaces. The property does have an Affordable Housing Covenant expiring in February 2026.
Value-Add Potential
Beyond its development prospects, there's significant value-add potential. Renovating the current rentals units presents an opportunity to capitalize on rents reaching $6+ per sqft for similar-sized units in the 92118 area. This presents a lucrative opportunity to enhance returns and create substantial value in one of California's most coveted locales
Coronado, incorporated in 1890, is a highly affluent neighborhood and one of San Diego’s most desired tourist destinations. With world-famous attractions such as Coronado Beach, Hotel Del Coronado, and the Coronado Bridge just minutes away, the area boasts unparalleled appeal for investors seeking equity preservation and steady appreciation. Moreover, Coronado is characterized by an extremely low vacancy rate and a high barrier to entry, making it an attractive investment opportunity.