$4,700,000

About this home

Welcome to Adella Apartments 1042 1050 Adella Avenue. This 1909 vintage residence offers a unit mix consisting of 2 -Studios and 4, 1- Bedroom apartment residences as grandfathered use. Currently zoned as an R-1 Residential property. An investment in a unique opportunity to acquire a premier location and an income producing asset with substantial upside by creating interior improvements to the current unit mix. The floor plan from the original dwelling had demising walls constructed creating the current 6-unit apartment configuration. Coronado historic index states the original residence as Vernacular architecture. Sited on 6,000 square foot lot. The original, remaining interior details such as the prominent wood entry staircase accessed from residence 1050 that currently leads to a spacious 1-bedroom upstairs residence secures the sensibility of years gone by. The modest front entry of residence 1048 provides an enclosed porch that leads into the beautifully appointed, large living space with gleaming hardwood floors and brick fireplace (non-operational) adjoining spacious dining room with gorgeous built-in buffet (this room is currently utilized as a bedroom), rich-toned wood beam ceiling details, wall sconces and many original details creating a quality ambiance. These details of 1048 and 1050 residences provide worthwhile consideration of an opportunity to convert this exceptional property back to its original single-family dwelling use. Residence 1046 offers a charming 1 bedroom/1Bath, living/dining area and a darling kitchen with tile countertops, open shelving, beadboard even a window above the kitchen sink. Access Residence 1044 and 1042.5 from an exterior entry to an enclosed staircase adjacent to the driveway. Residence 1044 provides a spacious approximately 800 sq. ft., upstairs, 1-Bedroom with treetop views and fantastic natural light. There is an updated kitchen with abundant storage and two windows for great ventilation. Residence 1042.5 though small in scale provides a space-saving floor plan with its hideaway, built-in loft bed. Each residence has direct, individual access and offers original details. Unit floor plans are included within the photo gallery. The rear structure consists of Residence 1042, an upper level 1 bedroom unit offering a large-scale living area, an enclosed balcony off the bedroom, recently renovated bath and kitchen with access to the lower-level courtyard. This rear structure at ground-level offers multiple-storage units with the possibility to convert these into a garage. The long, narrow driveway not currently used for parking provides ease of access. The property offers on-site laundry, bike storage and two courtyards as communal areas shared by tenants. This is a must-see property.

Facts & features

Location