515 Palm Ave, Coronado, CA 92118
List Price:
$2,855,000
Cap Rate:
3.44%
Price/SF:
$1,107.69
Price/Unit:
$1,347,500
Gross Building Area:
2,433 SF
Lot Size:
3,946 SF
Status:
Closed
Submarket:
Central, Coastal
Property Type:
Apartments
Strategy:
Core
The Bove Group is excited to present 511-15 Palm Avenue, a sweetheart Duplex consisting of (2) large 1,200SF+ 2Bedroom 1 Bath separate homes. The subject property is in phenomenal condition including fully renovated interiors/bathrooms/kitchens including a charming Spanish cottage feel throughout. Additionally, this property is located one block away from the prestigious Coronado Middle/High School.
Constructed in 1930 & designated as a Historic Resource in 2018 (for its association with Genevieve Moore Savage & builder Alma V. Johnson), 515 Palm Ave. benefits from significantly reduced property taxes under the Mills Act making this property that much more attractive for investors & owner users alike. Currently, the property is fully rented receiving $9,850 between both units.
Listed By:
Aaron Bove
Senior Managing Director, Investments
aaron.bove@marcusmillichap.com
(858) 945-7094