344-46 G Ave. Coronado, CA 92118


Palma Commercial was secured to market and sell this architecturally significant, 1930s-vintage 5-unit apartment property on Coronado island, on  a large lot that is more than double the size of most in the immediate area.  This beautifully landscaped property has two separate two-story buildings, as well as two detached double-garage buildings with large patios.  The unit mix consists of four (4) 2br units and one (1) studio.  There is a large common area lawn with mature palm trees at the center of the property.

The full marketing effort included: direct mail and email campaigns, to our carefully curated coastal multifamily investor database; direct calls to likely potential buyers; an ad in a Coronado news publication; and exposure online on the most heavily frequented investor property search websites for such properties.  Within one week after going to market, 10 bona-fide offers were received.  Staying dedicated to the process, Palma agents were able to determine the best buyer via property showings and intense contract negotiations, resulting in a close of escrow exactly thirty days after the listing agreement was signed, at well above the listing price.

Coastal multifamily sales expertise in the region, attention to detail, professional marketing and negotiating practices, all helped Palma Commercial to outcompete other brokerages for this highly sought-after listing, awarded by a long-time Hawaii-based real estate broker (who grew up in Coronado) and her husband, a surfer/financial advisor.  The outcome was over $500K more than unsolicited offers reflected, prior to Sellers deciding to retain Palma Commercial to market and sell the property.

Agent(s) Involved: Joseph Burrough; Caitlyn de Wit
Agency/Representation: Seller

Transaction Details

Status: Closed
COE Date: 5/11/2022
Price: $5,025,000
Units: 5
Year Built: 1932
Bldg. Size: 3,825 SF
Lot Size: 10,447 SF
Price/Unit: $805,000
Price/SF of RBA: $1,052
Price/SF of GLA: $385