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Coronado Vacation Rental Trades for Record $8M
Marcus & Millichap has arranged the $8 million sale of Coronado Carriage Quarters, a two-suite luxury vacation rental in Coronado, CA. The firm’s Connor Stolle said the transaction set a record for the highest price per unit and highest price per square foot ever sold on Coronado Island.
Stolle and Carson Trujillo from Marcus & Millichap’s Downtown San Diego office represented the seller, a private trust. The international cash buyer was Coronado Residences Hotel, LLC.
The property has future redevelopment potential. “Coronado Carriage Quarters has a rare hotel/motel zoning designation enabling investors to capitalize on short term rentals. Anywhere on the island outside of this zoning requires a 26-night minimum,” said Trujillo.
The property, located at 1113 Adella Avenue, is situated across the street from Hotel Del Coronado and the Pacific Ocean. It features two, three-bedroom residences on its own floor, and is rented fully furnished for guests.
- ◦Sale/Acquisition
