Coronado Real Estate | The Morabito Group

GORGEOUS Remodeled condo with NICE balcony view

Cheryl Morabito — Tue, 01 Nov 2011 20:00:24 +0000

GORGEOUS Remodeled condo with NICE balcony view, washer and dryer in unit. This unit has 2 bedrooms with private bathroom and roomy living room area that separates the bedrooms. Living room has a fireplace and a nice dining room area. Kitchen appliances are almost brand new with granite counter tops and dishwasher. Small pets negotiable. Please drive by area before calling. Lots of closet space and 2 underground parking spots. Address: 2941 C Street in Golden Hills. Unit is located in front of bus stop and very near the downtown area for commuters to downtown.

Owner will pay trash and water and tenant is responsible for SDG&E utility bill.

A Beach House in Imperial Beach

The Morabito Group — Fri, 07 Oct 2011 21:03:05 +0000

I grew up in Imperial Beach, California, a low-profile beach town in San Diego, California. The best days of my life were those wonderful summers when I would ride my bike to the beach, spend the day boogie boarding and then eat fish tacos at the fish shop at the end of the pier. Now that I live in Coronado, I seldom visit but when I do, the smell of the fishermen bait surrounding the fish shop is the same, torrid, smelly, and fishy. Imperial Beach is not a spectacular place to live but it is a very livable city. It is not too far from the major attractions of San Diego like Balboa Park, the Zoo, Downtown and the malls of Mission Valley. The beaches of Imperial Beach are just as lovely and welcoming as the rest of the beaches in San Diego and so are the sunsets. I correct myself: The sunsets are spectacular and there’s never too many of them. Speaking of digesting, restaurants near the beach vary widely. Yes, low-budget eats exist like Mexican taco shops but you can also find Thai, Greek, Italian and Chinese. Being able to experience all these different types of food on a 13 year-old’s budget was like experiencing travel around the world on my bike.

Learning more about tax incentives for owners of Historic properties

The Morabito Group — Mon, 03 Oct 2011 20:52:47 +0000

In my research regarding the Mills Act, I discovered that California has an office which administers programs for historical buildings, the Office of Historic Preservation or OHP. The OHP’s mission is to promote the preservation of California’s cultural heritage. The Mills Act is one significant tax relief available to owners of historic properties, however, the federal government also has a tax incentive program: The Federal Rehabilitation Tax Credit Program. The OHP administers the 20% Federal Rehabilitation Tax Credit Program for California in partnership with the National Park Service according to federal regulations. OHP acts on behalf of the National Park Service as the initial reviewer to determine if projects submitted for preservation tax credits conform to the Secretary of the Interior’s standards for rehabilitation. In the Federal Fiscal Year 2010, the National Park Service approved 951 projects nationwide which represented an estimated investment of $3.42 billion. According the OHP, the second highest in program history! Why? Because restoring historical properties has proven to be a cost-effective tool for revitalizing communities and preserving historic places that give communities their special character. The incentives reward private investment in the rehabilitation of historic properties. I’ll continue my research further into these programs and relate my findings in another post.

What is the difference between a home that is Mills Act approved and Mills Act funded?

The Morabito Group — Wed, 28 Sep 2011 19:47:58 +0000

Recently, I attended the open house at 744 “B” Avenue, located in the Coronado Village hosted by Dino and Cheryl Morabito of The Morabito Group. The home is currently listed for sale with Real Living Napolitano Real Estate by The Morabito Group. The home is a 1911 build “Winchester” cottage and has been featured in many publications including, most recently, Better Homes & Gardens. This home, like few in Coronado, is a “Mills Act Funded” property, meaning not only does it qualify for a significant property tax savings, but it is already receiving the tax savings. In my opinion, this is a major selling point for this multi-million dollar property. Any prospective purchaser for 744 B Avenue will know its annual property taxes which are not based on the sale price but on the assessor’s established Mills Act value. The County Assessor’s office has a uses a unique formula to calculate the assessed value for these historic homes. After seeing the exhaustive efforts the owners of 744 B went through to restore, remodel and completely upgrade their 1911 Craftsman home, it would appear only fitting that this property benefit from the tax savings provided by the Mills Act. A property such as 744 B adds to the historical landscape of Coronado, which our tourists truly enjoy and ultimately, grows and enriches our city’s community. I will write about the conditions of keeping the Mills Act designation in another post.

Desireable Condo in Luscious Green Landscape

Alicia Avila — Wed, 28 Sep 2011 17:28:07 +0000

Very desirable unit with dual master floor plan and views of the beautifully designed landscape surrounding the tennis courts. The property has 24-hour security guard, 2 pools/saunas, spas, racquetball courts, and 4 tennis courts. Centrally-located and close to everything in San Diego and minutes to major attractions like Balboa Park, Zoo, Downtown San Diego, and the beaches of Pacific Beach, Mission Beach, Ocean Beach and Coronado. Fashion Valley mall is minutes away as well as IKEA, Costco, Lowes, and Wal-Mart. You will also be within walking distance to one of the best YMCAs in San Diego: the Mission Valley YMCA and a short bike ride to Mission Bay Park.

Coronado Village

Jayne McArthur — Mon, 19 Sep 2011 06:36:55 +0000

Central location in Coronado Village. Single level property with lovely centrally accessed patio with fountain. Updated laundry facilities. Separate storage unit. Assigned parking space.

1911 Classic Winchester Craftsman Home

Dino Morabito — Mon, 19 Sep 2011 06:34:36 +0000

Mills Act Funded! This stunning residence has been extensively remodeled by Alldredge Builders and designed by Dorothy Howard. The home boasts 4 bedrooms, 3 full bathrooms plus an office. The gourmet kitchen is complete with stainless steel appliances, large eat-in island, dual drawer auxiliary refrigerators, work station and more!

Prime Bayside Development

Dino Morabito — Mon, 19 Sep 2011 06:31:48 +0000

***INCREDIBLE $500,000 PRICE REDUCTION OFF ORIGINAL ASKING PRICE*** The Value…is in the land. Fabulous opportunity here to build along 1st street in the desirable Coronado Village. Existing structure remains in its original state.

Prime Ocean Front Development Opportunity

Dino Morabito — Mon, 19 Sep 2011 06:10:44 +0000

Undeveloped raw land on the sand in one of Southern California’s most attractively priced beach communities! Current approvals allow for 2 luxurious ocean front residences….approximately 2,700+ square feet EACH! Hurry now before this opportunity disappears!

Undeveloped Prime R4 lot

Dino Morabito — Mon, 19 Sep 2011 06:08:01 +0000

Undeveloped prime R4 lot located on a key corner 10,500 square foot lot overlooking Spreckel’s park!