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Apartments in Coronado on Glorietta sold

The eight-unit apartment complex at 1610 Glorietta Blvd., in Coronado 92118, has been sold for $2,375,000.

The buyer was Rich Investments 1610 Inc., 222 Playa del Norte, La Jolla 92037. Neville Rich is president of Rich Investments.

The acquisition was financed with a loan of $975,000 from Union Bank.

The sellers of the property (assessor's parcel 537-570-05) were William S. Nies (one-fourth); Joan N. Nies, trustee of the Nies Family Trust (one-fourth); Paul J. Nies and Laurie E. Nies, trustees of the Nies Revocable Declaration of Trust; and Geoffrey Thomas Pack and Mary Eileen Pack, trustees of the Pack Family Trust (one-fourth).

The approximately 5,600-square-foot complex consists of six one-bedroom units and two two-bedroom units.

The apartment was constructed in 1959 on an 8,150-square-foot lot.

The lot is zoned "hotel/motel" for up to 20 units.

The eight-unit apartment complex at 1610 Glorietta Blvd., Coronado 92118. Courtesy of Google

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1 UserComments
M Swagemakers 7:49am January 12, 2013

Did sellers represent themselves? What would a 17,500 square-foot lot, zoned multi-family up to 11 units be worth in Coronado? Presently a 10 apartment garden complex.