4934-44 Coronado Ave. San Diego, CA 92107

Summary

Ocean Beach – 4934-44 Coronado Avenue, a Seven (7) unit apartment property, comprised of six (6) one-bedroom/one-bathroom units and one (1) one-bedroom/one-bathroom plus den, has sold for $2,800,000.

This was one of several properties in a multiple property up-leg for Buyer, Moulton IV, LLC’s 1031 exchange.  Buyer, based in La Jolla, represented themselves in the transaction.  This was Seller’s down-leg in a separate 1031 exchange.  Seller, a San Diego (South Park)-based owner, was represented by Joe Burrough of Palma Commercial, who had the exclusive listing, and was successful in securing a Purchase Agreement, approximately three weeks after full market exposure on the MLS (et al.). 

This property includes two separate/adjacent APNs on +/-10,500 SF of land, with primarily cottage-style units, built around 1937/47, all of which have been upgraded.  There are four single-car garages and four surface off-street parking spaces, as well as a dedicated laundry room, and beautifully landscaped drought tolerant courtyard with small common lawn area.  Residents enjoy excellent proximity to the beach (1.5 blocks), nearby dining staples (4 blocks), and Sunset Cliffs (walking distance).