41 Spinnaker Way, Coronado, California 92118, Coronado, 92118 - 2 bed, 3 bath
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41 Spinnaker Way
Coronado, California 92118
ACTIVE
CONDITION: POOR
2Beds
3Baths
2,666Sq Ft
4,610Lot Size
Property Price
LIST PRICE$2,800,000
EST. MARKET VALUE
$2,821,241
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $2,800,000—positioned well below the $2,821,241 Fair Market Value by 0.75%. This valuation gap offers $21,241 in Instant Equity for buyers ready to execute a ground-up remodel. Featuring a Condition Rating of 5, the residence offers a rare Waterfront Location with Panoramic Bay Views. With top-tier schools like Coronado High (10/10) nearby, this is a premier acquisition for Fix-and-Flip Investors or Owner-Occupants seeking a custom coastal renovation.
Estimated Market Value
$2,821,241
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 | $2,800,000* List Price | 2 | 3 | 2,666 | $1,058 | - |
A 86 Half Moon Bnd Sold | $2,065,000 | 3 | 2 | 1,665 | $1,240 | 0.8 mi |
B 29 Blue Anchor Cay Rd Pending | $2,798,000 List Price | 3 | 3 | 3,028 | $924 | 0.2 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 (35 years old) with no significant updates. The interior features original oak cabinetry, dated tile countertops, and severely stained or damaged carpeting throughout. The listing description explicitly states the property needs a remodel 'from the ground up,' aligning with the criteria for a full rehab.
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).
- Prime Waterfront Location
Situated directly on the sand within California’s only residential marina community south of Newport Beach, offering a rare and prestigious coastal lifestyle.
- Breathtaking Panoramic Views
The property boasts expansive views of the San Diego Bay, city lights, and the coastline, providing a stunning backdrop from multiple vantage points.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 3.
- Extensive Renovation Required
The residence requires a complete update and remodel from the ground up, which will necessitate significant additional capital investment and a lengthy construction timeline.
- Limited Current Bedroom Count
Despite the large square footage, the home is currently configured with only two bedrooms, which may limit its immediate appeal to buyers seeking a move-in ready family home.
About 41 Spinnaker Way
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
- 2
- 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 | 2.0 | 3.6 |
| Baths | 3.0 | 3.0 |
| Square foot | 2,666 | 2,425.25 |
| Lot Size | 4,610 | 4,473.528 |
| Price | $2.80M | $3.29M |
| Price per sq ft | $1.1K | $1.4K |
| Built year | 1989 | 1977 |
| HOA | $209.0 | $322 |
| Days on market | 29 | 58 |
Pricing History
Listed for Sale
Aug 11, 2026
$2,800,000
Initial Listing