848 Olive Avenue, Coronado, California 92118, Coronado, 92118 - 2 bed, 2 bath
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848 Olive Avenue
Coronado, California 92118
ACTIVE UNDER CONTRACT
CONDITION: POOR
2Beds
2Baths
1,071Sq Ft
4,069Lot Size
Property Price
LIST PRICE$1,900,000
EST. MARKET VALUE
$1,803,393
5% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $1,900,000—positioned well above the $1,803,394 Fair Market Value by -5%. Featuring a Condition Rating of 5, this 1920 cottage requires a full-scale renovation to modernize its R-3 Zoning potential and unpermitted living spaces. Located in a premier district with Top-Rated Schools (10/10 High School), the asset offers significant upside for Buy-and-Hold Investors or Contractors capable of executing a comprehensive restoration to maximize the value of this coastal lot.
Estimated Market Value
$1,803,393
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 |
|---|---|---|---|---|---|---|
★ 848 Olive Avenue Subject 2 bd · 2 ba · 1,071 sqft · $1,684 | $1,900,000* List Price | 2 | 2 | 1,071 | $1,684 | - |
A 812 H Ave Sold 3 bd · 2 ba · 1,422 sqft · $1,547 · 0.1 mi | $2,200,000 | 3 | 2 | 1,422 | $1,547 | 0.1 mi |
B 139 I Avenue Sold 3 bd · 2 ba · 1,406 sqft · $1,696 · 0.8 mi | $2,385,000 | 3 | 2 | 1,406 | $1,696 | 0.8 mi |
C 450 J Pending 2 bd · 2 ba · 1,007 sqft · $2,105 · 0.5 mi | $2,120,000 List Price | 2 | 2 | 1,007 | $2,105 | 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 1920, this property is over 100 years old and shows significant signs of functional obsolescence. The kitchen features cabinetry and tiling likely dating back 40+ years, and the presence of window AC units indicates a lack of modern central HVAC systems. With unpermitted living spaces and a description emphasizing a total restoration or 'reimagining,' the home requires a full rehab to meet modern safety and living standards.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Middle School: Coronado Middle School (9/10). High School: Coronado High School (10/10).
- Prime Coastal Location
Situated west of Orange Avenue in a quiet residential pocket, the property is just a half-mile from Coronado's world-class beaches and away from heavy tourist traffic.
- High Development Potential
The R-3 zoning and 4,069-square-foot lot offer a rare opportunity for investors or builders to renovate, expand, or explore multi-unit development possibilities in a high-demand area.
CONSRISKS & DEFICIENCIES
- Significant Renovation Required
Built in 1920, the home requires extensive restoration and modernization to meet contemporary standards, representing a substantial additional investment.
- Unpermitted Living Space
The detached garage was converted into living space without permits, which may present challenges for financing, insurance, and future code compliance.
About 848 Olive Avenue
Opportunity Knocks in Coronado! This charming Coronado cottage is ready for a new owner or investor with the vision to restore its character and bring it back to life! Offering 2 bedrooms, 1.5 bathrooms, and 1,071 square feet on a 4,069-square-foot lot, the property presents an opportunity to renovate, reimagine, or explore future possibilities. Touches of old-world charm remain, including some windows and a built-in china cabinet in the dining room. Additional features include a basement area and a detached garage converted to living space without permits. Tax records indicate R-3 zoning; buyers to verify zoning, permitted uses, and development possibilities. Ideally situated west of Orange Avenue in an established residential neighborhood, away from the busy tourist areas, yet about ½ mile from Coronado's beautiful beaches. Bring your imagination and explore the possibilities!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1920
- Lot Size
- 4,069 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Coronado Unified Schools
Village Elementary School
Grades K-5 • 0.3 mi
8/10
Coronado Middle School
Grades 6-8 • 0.3 mi
9/10
Coronado High School
Grades 9-12 • 0.3 mi
10/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.7 |
| Baths | 2.0 | 3.0 |
| Square foot | 1,071 | 2,441.633 |
| Lot Size | 4,069 | 5,143.816 |
| Price | $1.90M | $3.30M |
| Price per sq ft | $1.8K | $1.5K |
| Built year | 1920 | 1981 |
| HOA | $0 | $290 |
| Days on market | 17 | 57 |
Pricing History
Listed for Sale
Oct 8, 2026
$1,900,000
Initial Listing