344 G Avenue
Coronado, CA 92118

*Call For Offers by early Friday, 4/22/22* A rare and charming multifamily investment opportunity in beautiful Coronado, 344-46 G Avenue is a 5 unit property, situated on an unusually large (+/-10,447 SF) lot, comprised of four (4) two-bedroom/one-bathroom units and one (1) studio unit, spread across two separate 2-story buildings. Each unit has its own private outdoor area, whether an enclosed yard (2) or elevated deck (2) or patio (1). Landscaping at the property consists of grassy yards, a large central lawn, mature palm trees, perimeter shrubs, terracotta tile walkways and gated front and rear access, all of which enhance the tranquil garden setting for residents. There are four (4) garages and two tandem surface off-street parking spaces, as well as community laundry equipment. Located at a high point (elevation-wise) relative to the `island´, allowing for good natural light and great potential view exposure, residents here enjoy being within walking distance to the Ferry Landing, and a wide array of restaurants, shops and parks. Built in +/-1932, both front and rear buildings have pitched Spanish-tile roofs, a smooth stucco exterior finish, and wood frame windows. Unit interiors feature useful built-ins and arched doorways, with original hardwood floors or vinyl plank flooring, some carpeted bedrooms, and tile flooring in kitchens and bathrooms. Counter surfaces are white tile and appliances are mainly standard white, including gas oven/range and refrigerator. Units have central heat, and select units have ceiling fan/light fixtures. All units are separately metered for gas and electricity, and master-metered for water/sewer. There is a covered laundry area in the central courtyard for community use, as well as a functioning irrigation system for landscaped areas. Pride of ownership is evident, as the property has been well maintained by the same owner for around 30 years. Recent improvements include having the decks above garages resurfaced and the Spanish-tile roofs redone, in addition to lining the sewer line for increased longevity. This rare multifamily offering is an attractive long-term investment, with desirable owner/user potential, in one of the most highly sought after coastal communities in the world, with excellent schools and very low crime relative to San Diego County. With significant upside potential via renovations, sufficient to justify upper end market rents for the area, this property is well-suited to becoming a true legacy asset. There are several avenues for redevelopment down the road, including: the possibility of subdividing the lot into two multifamily properties; building new construction 3-story homes (after demolishing the existing structures, perhaps one at a time); and/or adding an ADU(s). Buyer(s) shall satisfy themselves with any and all development potential prior to removing contingencies. Exterior: ,,