We are pleased to present a 12-unit apartment complex located a short walk from the Pacific Ocean at 619 South Coast Highway, in the City of Oceanside, CA. With close proximity to the ocean and nearly every benefit Oceanside has to offer within walking distance, the property has a traditionally low vacancy rate as well as stable rent growth. The property is a well functioning apartment building for 30+ years with ample interior and exterior upgrades completed over the past 6 years. Highest and best use at this coastal location is VRBO and AIR BNB. World class beaches, endless entertainment options and easy travel access make this location a desirable, convenient and affordable vacation destination. Partially originally built in 1926, the subject property is situated on 0.17 acres. The property is comprised of 10 studio units and two one-bedroom/ one-bath units totaling approximately 3,264 rentable square feet. Additionally, the property contains one non-conforming studio unit and three large office/storage units that provide extra income and appeal to potential live/work tenants or can be used as VRBO & AIR BNB storage/offices.
Please inquire with Broker for further information.
This property is an opportunity for an investor to purchase a solid investment in a strong coastal, rental submarket. The new owner will enjoy the security of having the property situated near heavily gentrifying comparable apartment complexes, local shopping, hotels and restaurants, as well as having easy access to world class beaches, Interstate 5, Highway 78 and the Amtrak Train Station. The property is being offered free and clear of debt.
