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812-820 E Ave 5 Unit Apartment Building $4,431,895 CAD ($886,379 CAD/Unit) 2.60% Cap Rate Coronado, CA 92118
Investment Highlights
- Walkable Coronado Location – Just Two Blocks to Orange Avenue and Minutes to Coronado Beach
- High-Demand Submarket – Limited Supply, Strong Rent Growth, and Consistently Low Vacancy
- Desirable Unit Mix – Four 1-Bedroom Units and One 2-Bedroom Unit, Each with Patio/Balcony
- Rental Upside – Approximately 16.5% Potential Through Interior Renovations
- ADU Potential – Two Single Garages Totaling Approximately 598 Sq. Ft. (Buyer to Verify)
- Low-Density 5-Unit Courtyard Property with Spacious Outdoor Areas
Executive Summary
The Residences on E is a centrally located five-unit apartment community in the highly desirable rental market of Coronado, California. Situated on a 5,088 square foot lot, the property features an attractive unit mix of four 1-bedroom/1-bath units and one spacious 2-bedroom/1-bath unit. Residents enjoy well-maintained grounds with a peaceful courtyard, on-site laundry, and patios or balconies for each unit. The property is ideally positioned in central Coronado, just blocks from the beach, Orange Avenue, and the island’s many shops, restaurants, and attractions.
While the property has been well maintained, a clear value-add opportunity exists through interior and exterior renovations that could support higher rents. In addition, the approximately 598 square foot garage area presents the potential to add a sixth unit through California’s ADU program (Buyer to Verify). Held by the same family for over 30 years, The Residences on E offers investors the opportunity to enhance value and capitalize on Coronado’s strong and consistent rental demand.
While the property has been well maintained, a clear value-add opportunity exists through interior and exterior renovations that could support higher rents. In addition, the approximately 598 square foot garage area presents the potential to add a sixth unit through California’s ADU program (Buyer to Verify). Held by the same family for over 30 years, The Residences on E offers investors the opportunity to enhance value and capitalize on Coronado’s strong and consistent rental demand.
Financial Summary (Actual - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$207,822
|
$75.49
|
| Other Income |
$7,871
|
$2.86
|
| Vacancy Loss |
$6,235
|
$2.26
|
| Effective Gross Income |
$209,458
|
$76.08
|
| Taxes |
$46,682
|
$16.96
|
| Operating Expenses |
$47,537
|
$17.27
|
| Total Expenses |
$94,219
|
$34.22
|
| Net Operating Income |
$115,239
|
$41.86
|
Financial Summary (Actual - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $207,822 |
| Annual Per SF | $75.49 |
| Other Income (CAD) | |
|---|---|
| Annual | $7,871 |
| Annual Per SF | $2.86 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,235 |
| Annual Per SF | $2.26 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $209,458 |
| Annual Per SF | $76.08 |
| Taxes (CAD) | |
|---|---|
| Annual | $46,682 |
| Annual Per SF | $16.96 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $47,537 |
| Annual Per SF | $17.27 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $94,219 |
| Annual Per SF | $34.22 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $115,239 |
| Annual Per SF | $41.86 |
Property Facts
| Price | $4,431,895 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $886,379 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 2.60% | Building Size | 2,706 SF |
| Gross Rent Multiplier | 20.55 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1948 |
| Property Subtype | Apartment | Parking Ratio | 1.11/1,000 SF |
| Zoning | R3 | ||
| Price | $4,431,895 CAD |
| Price Per Unit | $886,379 CAD |
| Sale Type | Investment |
| Cap Rate | 2.60% |
| Gross Rent Multiplier | 20.55 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 2,706 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1948 |
| Parking Ratio | 1.11/1,000 SF |
| Zoning | R3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $3,341 CAD | 506 |
| 2+1 | 1 | $4,091 CAD | 682 |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 537-233-18 | Total Assessment | $775,771 CAD (2025) |
| Land Assessment | $544,414 CAD (2025) | Annual Taxes | $46,682 CAD ($17.25 CAD/SF) |
| Improvements Assessment | $231,357 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
537-233-18
Land Assessment
$544,414 CAD (2025)
Improvements Assessment
$231,357 CAD (2025)
Total Assessment
$775,771 CAD (2025)
Annual Taxes
$46,682 CAD ($17.25 CAD/SF)
Tax Year
2026
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812-820 E Ave
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