41 Spinnaker Way, Coronado, California 92118, Coronado, 92118 - 3 bed, 3 bath
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41 Spinnaker Way
Coronado, California 92118
ACTIVE
CONDITION: POOR
3Beds
3Baths
2,666Sq Ft
4,610Lot Size
Property Price
LIST PRICE$2,750,000
EST. MARKET VALUE
$2,754,679
SUMMARY
This waterfront property presents a High-Potential Investment Opportunity with a List Price of $2,800,000—positioned well below the $2,772,964 Fair Market Value (Note: Market is currently stable). Featuring a Condition Rating of 5, this residence requires a full ground-up renovation, offering significant upside for those looking to customize a premier bayfront asset. With unobstructed San Diego Bay views and proximity to top-rated schools like Coronado High, this is an ideal acquisition for Fix-and-Flip Investors or Owner-Occupants seeking a luxury waterfront project.
Estimated Market Value
$2,754,679
Based on Realkey algorithm analyzing recent comparable sales in Coronado.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 41 Spinnaker Way Subject 3 bd · 3 ba · 2,666 sqft · $1,033 | $2,750,000* List Price | 3 | 3 | 2,666 | $1,033 | - |
A 29 Blue Anchor Cay Rd Sold 3 bd · 3 ba · 3,028 sqft · $958 · 0.2 mi | $2,900,000 | 3 | 3 | 3,028 | $958 | 0.2 mi |
B 22 Catspaw Cape Active 3 bd · 3 ba · 2,242 sqft · $1,025 · 0.5 mi | $2,299,000 List Price | 3 | 3 | 2,242 | $1,025 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1989 (37 years old), this property is in original condition and requires a full rehab. The kitchen features dated oak cabinetry with missing doors and tile countertops, while the living areas show heavily stained and damaged carpeting. The listing explicitly describes it as a 'ground up' remodel opportunity, and the mechanical systems (HVAC and water heater) appear aged and near the end of their service life.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Silver Strand Elementary School (9/10). Middle School: Coronado Middle School (9/10). High School: Coronado High School (10/10).
- Rare Waterfront Location
Situated directly on the sand in the exclusive Coronado Cays, this property offers a unique beach-front lifestyle within California’s only residential marina community south of Newport Beach.
- Exceptional Panoramic Views
The home features spectacular, unobstructed South and East San Diego Bay views, including city lights and coastline vistas, providing a premium visual experience from multiple vantage points.
CONSRISKS & DEFICIENCIES
- Extensive Renovation Required
The property is positioned as a 'ground-up' remodel opportunity, implying that the current condition is dated and will require a substantial additional investment of time and capital.
- High Entry Cost for a Fixer
At a $2.8M price point for a home needing a full update, the total investment cost may limit the buyer pool to those with significant liquid reserves for construction.
About 41 Spinnaker Way
Rare waterfront opportunity directly on the sand! Featuring spectacular, unobstructed South and East San Diego Bay views, the home offers an ideal canvas for buyer looking to bring their personal design and remodel touches. The Coronado Cays community, located on the San Diego Bay, is California’s only residential marina community South of Newport Beach. In fact, 41 Spinnaker Way offers breathtaking views to the south as well as east of the San Diego Bay and sits directly on the sand - Enjoy your own beach! This house also provides a new homeowner, or investor, the opportunity to completely remodel and update the residence from the ground up. Currently, the house has very large dual-master suites on the second floor, and a third bedroom can easily be reconfigured on the first or second floor.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1989
- Lot Size
- 4,610 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $209.0 / Month
Neighborhood Insights
Coronado Unified Schools
Silver Strand Elementary School
Grades K-5 • 2.0 mi
9/10
Coronado Middle School
Grades 6-8 • 6.0 mi
9/10
Coronado High School
Grades 9-12 • 5.8 mi
10/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.7 |
| Baths | 3.0 | 3.0 |
| Square foot | 2,666 | 2,441.633 |
| Lot Size | 4,610 | 5,143.816 |
| Price | $2.75M | $3.30M |
| Price per sq ft | $1.0K | $1.5K |
| Built year | 1989 | 1981 |
| HOA | $209.0 | $290 |
| Days on market | 75 | 57 |
Pricing History
Listed for Sale
Sep 25, 2026
$2,750,000
$2,800,000
-2% Price Drop
Initial Listing
Price Change
Aug 11, 2026
$2,800,000
Initial Listing