TURN-KEY FOUR-PLEX IN THE HEART OF THE VILLAGE
850-856 OLIVE AVENUE, CORONADO
PROPERTY DETAILS
Rarely available and fully turnkey four-plex apartment building just three blocks to the beach in the heart of Coronado’s charming Village! The list of upgrades on this revenue generating asset is too long to list but some of the many improvements include: new luxury vinyl flooring with wide plank white oak finish throughout, all units feature upgraded kitchens and bathrooms, AC, and laundry. Two lower units feature spacious patios for grilling or hanging out with friends and enjoying Coronado’s temperate climate. Upstairs units feature views of the surrounding neighborhood and increased privacy. All units come fully furnished with in-place rental income expected to exceed $220,000 over the first 12 months. Tenants enjoy secure bike parking, and three offstreet covered parking spots.
High Level
Pro-Forma Financials:
Gross Rental Income $196,000+
Vacancy: 3%
Expenses: $62,656
Net Operating Income: $127,464
Cap Rate 3.27%+
850 852 854 856 1/1 1/1 1/1 1/1 UNIT # BR/BA SQFT PARKING 612sqft 612sqft 582sqft 582sqft Street parking 1 carport space 1 carport space 1 carport space
©2022 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. DRE #01481919 CALL FOR MORE INFORMATION. 850-856 Olive Avenue, Coronado, CA 92118 Jim Nelson, Debbie Riddle, & Kilee Waller REALTORS® | DRE #01852936, DRE #00674913, DRE # 01470597 619.415.5574 | www.nelsonriddleteam.com 944 Orange Avenue, Coronado, CA 92118
