NOT LISTED FOR SALE
12 Beds
6 Baths
4,500 Sq Ft
5,829 Sq Ft Lot

Sale Details

Date Sold: August 13, 2021

Last sale price $3,750,000 $833 Per Sq Ft

9 Days on Market

Highlights

  • No HOA
  • Park
  • Laundry Facilities
  • Coronado Village Elementary Rated A
  • Bike Trail
  • 4-minute walk to Star Park

About This Home

As of August 2021

One of the best locations in San Diego, a quiet place to live within walking distance of everything a tenant could ever want or need. As an owner you can own on Coronado Island, always commanding a premium in rent from quality tenants. This pride of ownership building is suitable as a great long term investment to own one of the best pieces of apartment real estate that rarely becomes available. It's gonna move quickly!

Last Agent to Sell the Property

Chris Pettit

Skyline Commercial Real Estate License #01983950 Listed on: 05/10/2021

Last Buyer's Agent

Laura Alexon

Heritage Re David Waitley Co B License #01886545

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1957

Lot Details

  • 5,829 Sq Ft Lot
  • Two or More Common Walls
  • Level Lot

Home Design

  • 4,500 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 6 Bathrooms

Laundry

  • Dryer
  • Washer

Parking

  • Parking Available
  • Assigned Parking

Listing and Financial Details

  • Tenant pays for electricity, gas, water
  • Legal Lot and Block 11 / 16
  • Tax Tract Number 376
  • Assessor Parcel Number 5374403000

Community Details

Overview

  • No Home Owners Association
  • 6 Units
  • Coronado Village Subdivision

Amenities

  • Laundry Facilities

Recreation

  • Park
  • Bike Trail

Building Details

  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $638
  • Insurance Expense $1,800
  • Maintenance Expense $3,600
  • Trash Expense $1,368
  • Water Sewer Expense $2,663
  • New Taxes Expense $39,406
  • Operating Expense $56,495
  • Gross Income $194,663
  • Net Operating Income $132,408

Property Details

Home Type

Multi-Family

Year Built

Built in 1957

Lot Details

5,829 Sq Ft Lot

Listing Details

  • CapRate: 3.48
  • Property Attached: Yes
  • Subdivision Name Other: Coronado Village
  • Water Sewer Expenses: 2663.00
  • Zoning: R3
  • Property Type: Residential Income
  • Parcel Number: 5374403000
  • Year Built: 1957
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 833.33

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned

Utilities

  • Utilities: Electricity Available, Natural Gas Available, Water Connected
  • Laundry: Yes
  • Laundry Features: Dryer Included, Washer Included
  • Sewer: Public Sewer
  • Trash Expense: 1368.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Biking, Park, Sidewalks, Storm Drains

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 5829.00
  • Lot Size Acres: 0.1338

Rental Info

  • Tenant Pays: Electricity, Gas, Water

Multi Family

  • Average2 Bed Area: 750 Square Feet
  • Electric Expense: 638.00
  • Gross Income: 194663.00
  • Gross Multiplier: 19.52
  • Gross Operating Income: 188903.00
  • Gross Scheduled Income: 194663.00
  • Insurance Expense: 1800.00
  • Lot Size Area: 5829.0000 Square Feet
  • Maintenance Expense: 3600.00
  • Net Operating Income: 132408.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 56495.00
  • Other Income1: 2663.00
  • Other Income Description: RUBS
  • Rent Control: No
  • Total Expenses: 56495.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 39406.00
  • Tax Block: 16
  • Tax Census Tract: 218.00
  • Tax Lot: 11
  • Tax Tract Number: 376

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
May 10, 2021
Closed on
Jun 17, 2021
Sold by
Beachlife Rentals Llc
Bought by
Seller's Agent
Chris Pettit
Skyline Commercial Real Estate
Buyer's Agent
Laura Alexon
Heritage Re David Waitley Co B
List Price
$3,800,000
Sold Price
$3,750,000
Premium/Discount to List
-$50,000
-1.32%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,275,000
Interest Rate
2.9%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 28, 2018
Sold by
Bay Beachrentals Com Iv Llc
Bought by
Beachlife Rentals Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,500,000
Interest Rate
4.04%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 11, 2013
Sold by
Bay Beachrentals Com Iv Llc
Bought by
Bay Beachrentals Com Iv Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,450,000
Interest Rate
4.36%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Jul 18, 2007
Sold by
Mendoza Robert J and Mendoza Cynthia R
Bought by
920 Tenth Street Llc

Purchase Details

Closed on
Mar 20, 2000
Sold by
Mendoza Robert J and Mendoza Cynthia R
Bought by
Mendoza Robert J and Mendoza Cynthia R

Purchase Details

Closed on
Jul 1, 1999
Sold by
Krause Judy K
Bought by
Krause Ray J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$450,000
Interest Rate
7.4%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 4, 1999
Sold by
Krause Ray J
Bought by
Mendoza Robert J and Mendoza Cynthia R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$450,000
Interest Rate
7.4%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 30, 1998
Sold by
Bentz Family Trust B 07-03-90
Bought by
Krause Ray J
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Coronado, CA

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$3,656,500 Ticor Title
Beachlife Rentals Llc $2,850,000 Fidelity National Title Comp
Bay Beachrentals Com Iv Llc -- Fidelity National Title
920 Tenth Street Llc -- First American Title
Mendoza Robert J -- --
Krause Ray J -- Chicago Title Co
Mendoza Robert J $750,000 Chicago Title Co
Krause Ray J -- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $5,050,000
Previous Owner Alexon Willey Laura E $1,275,000
Previous Owner Beachlife Rentals Llc $1,500,000
Previous Owner Bay Beachrentals Com Iv Llc $1,450,000
Previous Owner Mendoza Robert J $450,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
08/13/2021 08/13/21 Sold $3,750,000 -1.3% $833 / Sq Ft
05/10/2021 05/10/21 For Sale $3,800,000 -- $844 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $44,614 $3,957,641 $3,247,296 $710,345
2025 $44,614 $3,880,041 $3,183,624 $696,417
2024 $43,640 $3,803,962 $3,121,200 $682,762
2023 $42,982 $3,729,375 $3,060,000 $669,375
2022 $42,214 $3,656,250 $3,000,000 $656,250
2021 $35,401 $2,995,858 $2,417,710 $578,148
2020 $34,484 $2,965,140 $2,392,920 $572,220
2019 $34,377 $2,907,000 $2,346,000 $561,000
2018 $26,629 $2,167,756 $1,731,611 $436,145
2017 $20 $2,125,252 $1,697,658 $427,594
2016 $25,109 $2,083,581 $1,664,371 $419,210
2015 $24,568 $2,052,285 $1,639,371 $412,914
2014 $23,820 $2,012,084 $1,607,258 $404,826
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC21059486

California Regional Multiple Listing Service (CRMLS)

APN: 537-440-30-00

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