UPDATE: Villa Capri Buyer Discusses Plans to Refresh and Restore
Yet another historic Coronado property has sold. Jeff Connover from Faris Lee Investments has confirmed the sale of the historic Villa Capri Motel through CREXi (Commercial Real Estate Exchange). According to records at the San Diego County Assessors office, it was sold on October 13.
Villa Capri by the Sea was opened in 1956 by a mother-daughter duo, Dulcie Trowbridge and Bettye Vaughen. It is the quaint hotel with the vintage neon sign of a diving lady, located at 1417 Orange Ave, across the street from the Hotel Del. The motel was built on a small piece of land that was originally carved out of a part of the garden of the mansion of John D. Spreckels.
The motel website says that it was originally designed to be a small, boutique hotel in the “tradition of fine, small European hotels.” And, until now, it has remained under the ownership of the original family.
In 2007, The Mercury News of San Jose listed the Villa Capri Motel as one of its featured “Golden Oldies: Southern California Beach Motels.” According to that story, Trowbridge and Vaughen bought the original land for $14,500 from Spreckels. According to the new deed, the property was sold for over $6 million to J Street Hospitality.
J Street Hospitality is a real estate investment, development and asset management firm located in downtown San Diego. According to its website, its founder and president is Sajan Hansji. The website says that Mr. Hansji “enjoys the history of iconic buildings and bridges. You’ll often find him and his wife Dimple, relaxing on or near a beach. He is originally from Orange County, CA and currently resides in Coronado, CA.” The Coronado Times was unable to reach him for comment.
Related:
Villa Capri Buyer Discusses Plans to Refresh and Restore
Coronado Retail Properties Sold for $22 Million
