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221-225 D Ave 7 Unit Apartment Building $4,959,000 CAD ($708,429 CAD/Unit) 1.73% Cap Rate Coronado, CA 92118
Investment Highlights
- Rare Value Add Development Opportunity, R-3 Two Parcels Total Site 7018, Currently 7 Residential Units/2970 SF 6 One Bedroom and 1 Studio
- 1031 Exchange - Defer gains, land in Coronado -R-3 Zoning Tier 3 - (Historical View not Required) - Tenants all Mo to Mo
- Land Coronado -- Developer- Low Rents - room to Add value, Stablize, Reposition, Hold-
Executive Summary
Ascent Commercial and JP Equity Real Estate are proud to present a rarely available 7-unit
residential income property in the heart of Coronado. Combining two lots totaling 7,018
square feet and zoned R-3, this is the kind of opportunity that surfaces once in a market cycle
— just blocks from the iconic Ferry Landing with its waterfront dining, boutique shops, and
direct access to San Diego Bay. For the value-add investor, the existing units offer immediate upside through renovation and
repositioning in one of California's most supply-constrained rental markets. For the developer or land banker, the R-3 zoning and combined lot size present a compelling
future path — hold the asset, collect income, and develop a premium townhome community when the time is right. Whether your strategy is renovate, hold, or build, this property checks the box. Coronado does not offer second chances on opportunities like this.
residential income property in the heart of Coronado. Combining two lots totaling 7,018
square feet and zoned R-3, this is the kind of opportunity that surfaces once in a market cycle
— just blocks from the iconic Ferry Landing with its waterfront dining, boutique shops, and
direct access to San Diego Bay. For the value-add investor, the existing units offer immediate upside through renovation and
repositioning in one of California's most supply-constrained rental markets. For the developer or land banker, the R-3 zoning and combined lot size present a compelling
future path — hold the asset, collect income, and develop a premium townhome community when the time is right. Whether your strategy is renovate, hold, or build, this property checks the box. Coronado does not offer second chances on opportunities like this.
Property Facts
| Price | $4,959,000 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $708,429 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 1.73% | Building Size | 2,970 SF |
| Gross Rent Multiplier | 24.48 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 2000 |
| Property Subtype | Apartment | Parking Ratio | 2.36/1,000 SF |
| Zoning | R-3 - Multifamily Residential- Tier 3, Apartment- Townhomes | ||
| Price | $4,959,000 CAD |
| Price Per Unit | $708,429 CAD |
| Sale Type | Investment |
| Cap Rate | 1.73% |
| Gross Rent Multiplier | 24.48 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 2,970 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 2000 |
| Parking Ratio | 2.36/1,000 SF |
| Zoning | R-3 - Multifamily Residential- Tier 3, Apartment- Townhomes |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Window Coverings
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $2,267 CAD | 435 |
| Studios | 1 | $2,328 CAD | 360 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 536-152-03 | Improvements Assessment | $50,563 CAD |
| Land Assessment | $57,241 CAD | Total Assessment | $107,803 CAD |
Property Taxes
Parcel Number
536-152-03
Land Assessment
$57,241 CAD
Improvements Assessment
$50,563 CAD
Total Assessment
$107,803 CAD
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221-225 D Ave
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