308-330 Orange Avenue

Property Description

A 29-UNIT MULTIFAMILY PROPERTY WITH SIGNIFICANT DEVELOPMENT UPSIDE IDEALLY LOCATED THREE BLOCKS FROM THE PACIFIC OCEAN IN ONE OF THE NATION’S TOP BEACH CITIES, CORONADO, CA. CURRENTLY MASTER LEASED TO AFFORDABLE HOUSING OPERATOR. The Bove Group of Marcus & Millichap is proud to present the “Del Island”, an exclusive opportunity to own a true legacy property in the heart of Coronado, California. Situated on 0.64 Acres in the highest density zoning of Coronado, 308-330 Orange Ave. offers a multitude of investment possibilities on both the existing and proposed structures. Consisting of four contiguous parcels (8-lots), “Del Island” is currently operated as twenty-nine (29) Affordable Housing units comprised of studios, 1-bedroom, and 2-bedroom layouts with thirty (30) off-street parking spaces. Spanning 28,198 SF within the R-4 zoning of the Orange Avenue Corridor Specific Plan (OACSP), the proposed re-development envisions a luxurious ±26 unit residential condominium complex, with three and four-bedroom units.