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Oceanside,CA 92054
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 2,369 sqft
Price per Sqft $928
Subdivision Oceanside
MLS Listing ID ND24184719
Year Built 1965
Lot Size 5,209 Sqft
Property Description
Prime Investment Opportunity in Oceanside: Mixed-Use Property with Growth Potential
This exceptional mixed-use property offers a rare investment opportunity in Oceanside. It combines commercial and residential units in a rapidly growing area. Perfectly positioned to benefit from the city's ongoing development and rising real estate values, this property presents a diversified income stream and long-term appreciation potential.
Property Highlights:
Mixed-Use Investment: This property features retail and residential units, providing multiple revenue sources and catering to a diverse tenant base.
Prime Location Advantages:
Close to Ocean: Just five blocks from the beach, enhancing the appeal of retail and residential spaces.
Downtown Proximity: Within walking distance to shopping, dining, and entertainment, increasing tenant and customer demand.
Adjacent to 1010 Building: Near a prominent hotel and live-work lofts, which drive foot traffic and support potential rent growth.
Current Financial Performance:
Commercial Units: Two retail spaces currently rented at $1,590 each, with potential for rent adjustments, likely under market value.
Residential Units:
Two-Bedroom Unit: Recently remodeled and available for rent, presenting a fresh opportunity for new tenants.
Beach Cottage: Includes a one-car garage, rented at $2,000, with room for potential rent increases.
Parking: Convenient back alley with four parking spaces.
Investment Growth Opportunities:
Rent Increases: Potential to adjust rents across all units, mainly if current rates are below market.
Appreciation Potential: Oceanside's real estate market has thrived, with property values rising significantly in recent years. Ongoing developments like the 1010 Building and other downtown enhancements are expected to boost property values further.
Future Development Plans: Oceanside?s 2023 Downtown Development initiatives highlight continued growth, projecting increased demand for commercial and residential spaces. This property is well-positioned to benefit from these future enhancements.
Why Invest in Oceanside? Oceanside continues to be one of Southern California?s thriving coastal communities, attracting investors with its favorable market trends, coastal location, and strategic city development plans. The area's investment potential is backed by ongoing growth in commercial and residential sectors, making this property an attractive opportunity for immediate revenue and long-term appreciation
Location
State CA
County San Diego
Area 92054 - Oceanside
Zoning C
Rooms
Ensuite Laundry Laundry Closet,Stacked
Interior
Laundry Location Laundry Closet,Stacked
Heating Space Heater
Cooling None
Flooring Carpet,Vinyl
Fireplaces Type None
Laundry Laundry Closet,Stacked
Exterior
Garage Assigned,Garage,One Space
Garage Spaces 1.0
Garage Description 1.0
Fence Wood
Pool None
Community Features Storm Drain(s),Street Lights,Urban
Utilities Available Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
View Y/N No
View None
Roof Type Composition,Flat
Building
Lot Description Near Public Transit,Paved,Rectangular Lot,Walkstreet
Story 2
Foundation Raised,Slab
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash,Cash to New Loan,Conventional
Listing Terms Cash,Cash to New Loan,Conventional
Special Listing Condition Standard