CORONADO, CA—The 549-unit Coronado Bay Club in has been put on the market in Coronado, Calif. The property also includes development opportunity for 22 for-sale townhomes.
“Coronado Bay Club is the only multifamily property with more than 100 units located directly on the water in San Diego County. It’s also one of just six multifamily properties with more than 500 units on the San Diego coastline, paralleling Interstate 5,” said Darcy Miramontes, executive vice president for Jones Lang LaSalle, in a statement. “It has a strong history of performance, and offers an extremely rare opportunity to develop on Coronado Island, along San Diego Bay. The asset has been well maintained by dedicated ownership and undergone recent exterior and interior renovations, but also provides significant upside potential for the buyer to further capitalize on their investment.”
Miramontes as well as Vice President Kip Malo, International Director Jubeen Vaghefi, and Managing Directors David Young and Joe Leon are marketing the property.
Coronado Bay Club is located on nearly 14 acres of land. The garden-style apartment community includes 18 three-story buildings. Amenities include tennis courts, fitness center, resort-style pool, spa, saunas and locker rooms, movie theater, picnic area, clubhouse, meeting rooms, business center, catering kitchen, media room, beauty salon and garage parking.