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4961-67 Coronado Ave.

San Diego, CA 92107
  • $3,595,000
  • STATUS: ACTIVE
  • ON SITE: 17 Days
  • ID#: 250016931
$3,595,000
  • 4
    BEDS
  • 0.16
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Welcome to paradise at this super beach-proximate South Ocean Beach stunner, an eight (8) unit apartment property located at 4961-67 Coronado Avenue, just steps from the coast and 1.5 blocks from beach access at Santa Cruz Cove Beach. Also walking distance to Newport Avenue retail and Sunset Cliffs Trails, the “OB Farmhouse” boasts about as good of a coastal rental location as one can ask for. Comprised of all one-bedroom/one-bathroom units that average +/-410 SF in size, and featuring nine (9) surface off-street parking spaces, this property has undergone a beautiful transformation over the past several years via capital improvements, repairs, and bringing rents to market. Recent property upgrades include: installation of new dual-pane vinyl windows; electrical system upgrades; roof repairs; and unit interior renovations. Perched upon a +/-6,700 SF lot with good elevation above sea level relative to the immediate area, the single-story structure has +/-3,280 SF of rentable building area, and was built in/around 1955 of wood frame construction upon an elevated foundation with a pitched shake-shingle roof. The OB Farmhouse has attractive curb appeal, including recently repainted stucco exterior, modern signage, and some hardscape with tasteful drought-tolerant landscaping. These efficient units are separately metered for gas and electricity, operating on city trash services. The astute premium market multifamily investor may look to keep this as long-term rentals and perhaps update their maximum rental potential further by adding some form of laundry on-site.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2025 San Diego MLS, Inc. Licensed in the state of California.
www.sandiegoareahomesforsale.co/homes/159629883
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4961-67 Coronado Ave. San Diego, CA 92107

  • Price: $3,595,000
  • Status: ACTIVE
  • On Site: 17 Days
  • ID#: 250016931
4
Beds
4
Baths
0
½ Baths
0.16
Acres
Neighborhood:
Ocean Beach (92107)
County:
San Diego
Area:
Ocean Beach (92107)
Property Description
Welcome to paradise at this super beach-proximate South Ocean Beach stunner, an eight (8) unit apartment property located at 4961-67 Coronado Avenue, just steps from the coast and 1.5 blocks from beach access at Santa Cruz Cove Beach. Also walking distance to Newport Avenue retail and Sunset Cliffs Trails, the “OB Farmhouse” boasts about as good of a coastal rental location as one can ask for. Comprised of all one-bedroom/one-bathroom units that average +/-410 SF in size, and featuring nine (9) surface off-street parking spaces, this property has undergone a beautiful transformation over the past several years via capital improvements, repairs, and bringing rents to market. Recent property upgrades include: installation of new dual-pane vinyl windows; electrical system upgrades; roof repairs; and unit interior renovations. Perched upon a +/-6,700 SF lot with good elevation above sea level relative to the immediate area, the single-story structure has +/-3,280 SF of rentable building area, and was built in/around 1955 of wood frame construction upon an elevated foundation with a pitched shake-shingle roof. The OB Farmhouse has attractive curb appeal, including recently repainted stucco exterior, modern signage, and some hardscape with tasteful drought-tolerant landscaping. These efficient units are separately metered for gas and electricity, operating on city trash services. The astute premium market multifamily investor may look to keep this as long-term rentals and perhaps update their maximum rental potential further by adding some form of laundry on-site.
Exterior Features

Construction FrameStucco Exterior Part Landscaped Parking Spaces Parking Spaces Total 9 Roof Shake

Interior Features

Cooling Other Floor Coverings Other/Remarks Floors Other/Remarks Heating Wall Sq Ft Of Improvement 3280 Stories 1 Story Unit Furnished1 No Unit Furnished2 No Unit Furnished3 No Unit Furnished4 No Units With Ranges 8 Units With Refrigerators 8

Property Features

Actual Gross Operating Income 201390 Actual Gross Scheduled Income 205500.0 Actual Operating Expense 73326 Actual Vacancy And Credit Loss 4110 Assumable Finance 0 Buildings 1 Existing Financing Conventional Financial Information Source Owner Gross Equity 2395000 Gross Multiplier 17.49 Have Property Leased Apartments 8 Mandatory Remarks None Known Market Area Coastal South Monthly Rent Total 17125 Motive Want Sale Other Income Actual 0 Other Income Amount 0 Sq Ft Source Tax Record Tenant Pays Electric Y Tenant Pays Gas Y Tenant Pays Water N Terms CashCash to New Loan Unit Number1 4 Unit Number2 2 Unit Number3 2275 Unit Number4 1 Unit Rent Total1 8000 Unit Rent Total2 4500 Unit Rent Total3 2275 Unit Rent Total4 2350 Unit Rent1 2000 Unit Rent2 2250 Unit Rent3 2275 Unit Rent4 2350 Unit Type Apartment

San Diego MLS logo Listing provided courtesy of Joseph Burrough of Palma Commercial: 858-822-9222. Listing information © 2025 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2025 San Diego MLS, Inc. Licensed in the state of California.
 
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Steven G. Fraioli & Associates
13176 Midbluff Ave
San Diego CA, 92128