NOT LISTED FOR SALE

1113 Adella Ave Coronado, CA 92118

Estimated Value: $9,119,086

6 Beds
5 Baths
2,500 Sq Ft
$3,648/Sq Ft Est. Value

Last Sold November 04, 2022

Last sale price $8,028,000 $3,211 Per Sq Ft

Est. 14% increase in value since last sale

Current estimated payment $55,189/month

15 Days on Market

Highlights

  • Gated Community
  • Community Barbecue Grill
  • Property is Fully Fenced
  • Coronado Village Elementary Rated A
  • Forced Air Heating and Cooling System
  • 5-minute walk to Star Park

About This Home

As of November 2022

Pleased to present for sale Coronado Carriage Quarters, a 2-suite luxury vacation rental on Coronado Island with attractive future redevelopment potential. Resting on a 7,294 SF lot, this property offers 2,920 SF of current rentable area. This unique opportunity has a rare hotel/motel zoning designation enabling investors to capitalize on short term rentals in one of the top destinations for tourism in the United States. Anywhere on the Island outside of this zoning requires a 26-night minimum. Coronado Carriage Quarters is located at 1113 Adella Avenue, just across the street from the world renown Hotel Del Coronado and the Pacific Ocean. Investors may continue to operate this profitable vacation rental as is or redevelop the site to maximize zoning potential. The hotel/motel zoning designation allows for a variety of uses and this designation is exclusive to only two spots on the island. This luxury property features 2 spacious residences: (1) 3-bedroom/3-bathroom and (1) 3-bedroom/1.5-bathroom. Each residence is located on its own floor and is rented fully furnished for guests. The property has been elegantly renovated with high end finishes and features a modern interior design. Guests enjoy access to a private communal courtyard, off street parking (5 spaces), and central heating and air conditioning. Coronado is one of the most exclusive real estate markets in Southern California making 1113 Adella a generational asset. Across the street from the #1 ranked beach in the United States, this legacy property is positioned for a high level of appreciation in the years to come.

Last Agent to Sell the Property

Carson Trujillo

Whitewater CRE Inc License #01974818 Listed on: 03/31/2022

Co-Listed By

Connor Stolle

Marcus & Millichap

Last Buyer's Agent

Maria Lopez

Mr Agent RE License #02092476

Mr Agent RE

Property Details

Home Type

  • Multi-Family

Year Built

  • 1949

Lot Details

  • 7,275

Home Design

  • Concrete Roof
  • Stucco Exterior

Additional Features

  • 2-Story Property
  • Property is Fully Fenced
  • Forced Air Heating and Cooling System

Community Details

  • 2 Units
  • Community Barbecue Grill
  • Net Operating Income $269,299
  • Gated Community

Listing and Financial Details

  • Assessor Parcel Number 537-570-10-00

Property Details

Home Type

Multi-Family

Year Built

1949

Lot Details

7,275 Sq Ft Lot

Listing Details

  • Class: 2-4 UNITS
  • Market Area: South Bay
  • Cross Street: Orange Ave
  • Neighborhood: Coronado
  • Supplement: Coronado Carriage Quarters is located at 1113 Adella Avenue, just across the street from the world renown Hotel Del Coronado and the Pacific Ocean. Investors may continue to operate this profitable vacation rental as is or redevelop the site to maximize zoning potential. The hotel/motel zoning designation allows for a variety of uses and this designation is exclusive to only two spots on the island. This luxury property features 2 spacious residences: (1) 3-bedroom/3-bathroom and (1) 3-bedroom/1.5-bathroom. Each residence is located on its own floor and is rented fully furnished for guests. The property has been elegantly renovated with high end finishes and features a modern interior design. Guests enjoy access to a private communal courtyard, off street parking (5 spaces), and central heating and air conditioning. Coronado is one of the most exclusive real estate markets in Southern California making 1113 Adella a generational asset. Across the street from the #1 ranked beach in the United States, this legacy property is positioned for a high level of appreciation in the years to come.
  • Miscellaneous: Value in Land
  • Stories: 2 Story
  • Sale Price List Price: 1.0
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1949

Exterior Features

  • Exterior Material: Stucco
  • Fencing: Full
  • Roof: Concrete

Utilities

  • Cooling: Central Forced Air
  • Security: Gated Community
  • Sewer/Septic: Sewer Connected
  • Heat Equipment: Forced Air Unit

Condo/Co-op/Association

  • Complex Features: BBQ, Gated Community

Lot Info

  • Lot Size: 4,000-7,499 SF
  • Zoning: HM
  • Assessor Parcel Number: 537-570-10-00

Multi Family

  • No. of Units: 2
  • Actual Net Operating Income: 269299
  • Gross Rent Multiplier Actual: 14.24
  • Number Of Buildings: 1
  • Number Of Furnished Units: 2
  • Number Of Units With Cooling: 2
  • Number Of Units With Dishwashers: 2
  • Number Of Units With Patios: 2
  • Number Of Units With Range Oven: 2
  • Number Of Units With Refrigerator: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 31, 2022
Closed on
Nov 2, 2022
Sold by
Janice H Mcelroy Trust
Bought by
Coronado Residences Hotel Llc
Seller's Agent
Carson Trujillo
Whitewater CRE Inc
Buyer's Agent
Maria Lopez
Mr Agent RE
List Price
$8,000,000
Sold Price
$8,028,000
Premium/Discount to List
$28,000
0.35%
Views
1
Current Estimated Value
$9,119,086

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,091,086
Avg. Annual Appreciation
3.84%

Purchase Details

Closed on
Oct 1, 2019
Sold by
Mcelroy Janice Howard
Bought by
Mcelroy Janice H

Purchase Details

Closed on
Dec 11, 2015
Sold by
Mcelroy Richard Hartness
Bought by
Mcelory Janice Howard

Purchase Details

Closed on
Oct 31, 2003
Sold by
American National Red Cross
Bought by
J Howard & Associates Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$750,000
Interest Rate
5.98%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Coronado Residences Hotel Llc $8,028,000 Lawyers Title
Mcelroy Janice H -- None Available
Mcelory Janice Howard -- None Available
Mcelroy Janice Howard -- None Available
J Howard & Associates Inc $1,397,500 Commonwealth Land Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner J Howard & Associates Inc $750,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/04/2022 11/04/22 Sold $8,028,000 +0.4% $3,211 / Sq Ft
04/16/2022 04/16/22 Pending -- -- --
03/31/2022 03/31/22 For Sale $8,000,000 -- $3,200 / Sq Ft
Source: San Diego MLS

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $86,649 $8,352,331 $7,594,920 $757,411
2024 $86,649 $8,188,560 $7,446,000 $742,560
2023 $85,241 $8,028,000 $7,300,000 $728,000
2022 $22,352 $2,051,718 $1,804,691 $247,027
2021 $22,021 $2,011,489 $1,769,305 $242,184
2020 $21,405 $1,990,864 $1,751,163 $239,701
2019 $21,333 $1,951,828 $1,716,827 $235,001
2018 $20,970 $1,913,558 $1,683,164 $230,394
2017 $20,579 $1,876,038 $1,650,161 $225,877
2016 $19,938 $1,839,254 $1,617,805 $221,449
2015 $19,612 $1,811,628 $1,593,505 $218,123
2014 $18,984 $1,762,416 $1,562,291 $200,125
Source: Public Records

Agents Affiliated with this Home

  • Carson Trujillo

    Seller's Agent in 2022

    Carson Trujillo

    Whitewater CRE Inc

    (858) 373-3285

    1 in this area

    35 Total Sales

    Carson Trujillo
    Section Image

  • C

    Seller Co-Listing Agent in 2022

    Connor Stolle

    Marcus & Millichap

    Section Image

  • M

    Buyer's Agent in 2022

    Maria Lopez

    Mr Agent RE

    (858) 216-2646

    3 in this area

    49 Total Sales

    Maria Lopez
    Section Image

  • I

    Buyer Co-Listing Agent in 2022

    Ivan Kim-Fregoso

    MR Agent Real Estate Inc.

    (619) 608-4786

    3 in this area

    43 Total Sales

    Ivan Kim-Fregoso
    Section Image
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Map

Source: San Diego MLS

MLS Number: 220007346

San Diego MLS

APN: 537-570-10

California San Diego County Coronado 92118

1113 Adella Ave, Coronado, CA

Not Listed for Sale

MultiFamily

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