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8 Condo Quality Townhomes - Coastal Oceanside 514 S Myers St 8 Unit Apartment Building $6,000,000 ($750,000/Unit) 2.61% Cap Rate Oceanside, CA 92054
Investment Highlights
- Irreplaceable Coastal Real Estate Near the Oceanside Pier
- Each Unit has In-Unit Laundry, Fireplace, and Two-Car Garage
- Condo Conversation Opportunity + Value Add Opportunity
- Massive Two-Story Townhome Units: 2 & 3 Bedroom Units
- Built to Condo Specs in 1990 w/ Direct Garage Access & Secure Gated Parking
- West of S Coast Hwy 101 with Ocean Views
Executive Summary
West of S Coast Hwy 101 in Oceanside, this 8-Unit multifamily property has everything an investor looks for: Prime coastal real estate, massive units, 2-car garages for each unit, in-unit laundry, and upside in rental income. The Townhomes on South Myers were constructed in 1990 and consist of two (2) 3Bedroom / 2Bathroom 1,271sf units, and six (6) 2Bedroom / 2Bathroom 1,074sf units situated on a 11,651sf lot. Each unit is a two-story townhome with select units capturing ocean views. Tenants are just a short walk to the beach, Downtown shops and restaurants, the Oceanside Pier, and the Mission Pacific Hotel / Seabird Ocean Resort. This is a rare opportunity to acquire an incredible value-add community in one of San Diego’s most sought after coastal markets.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$274,320
|
$29.16
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$8,230
|
$0.87
|
| Effective Gross Income |
$266,090
|
$28.28
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$109,388
|
$11.63
|
| Net Operating Income |
$156,702
|
$16.65
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $274,320 |
| Annual Per SF | $29.16 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $8,230 |
| Annual Per SF | $0.87 |
| Effective Gross Income | |
|---|---|
| Annual | $266,090 |
| Annual Per SF | $28.28 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $109,388 |
| Annual Per SF | $11.63 |
| Net Operating Income | |
|---|---|
| Annual | $156,702 |
| Annual Per SF | $16.65 |
Property Facts
| Price | $6,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $750,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 2.61% | Building Size | 9,409 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 21.87 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1990 |
| Property Type | Multifamily | Parking Ratio | 0.85/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3 - Multi-Family 10 units or less | ||
| Price | $6,000,000 |
| Price Per Unit | $750,000 |
| Sale Type | Investment |
| Cap Rate | 2.61% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 21.87 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.27 AC |
| Building Size | 9,409 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1990 |
| Parking Ratio | 0.85/1,000 SF |
| Zoning | R3 - Multi-Family 10 units or less |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Washer/Dryer Hookup
- Security System
- Views
Site Amenities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 2 | $3,300 | 1,271 |
| 2+2 | 6 | $2,710 | 1,074 |
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Walk Score®
Very Walkable (81)
Property Taxes
| Parcel Number | 150-263-19 | Improvements Assessment | $956,168 (2025) |
| Land Assessment | $2,966,584 (2025) | Total Assessment | $3,922,752 (2025) |
Property Taxes
Parcel Number
150-263-19
Land Assessment
$2,966,584 (2025)
Improvements Assessment
$956,168 (2025)
Total Assessment
$3,922,752 (2025)
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Videos
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Photos
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Street
Map
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8 Condo Quality Townhomes - Coastal Oceanside | 514 S Myers St
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