Do not miss this opportunity to own this rarely available 12 unit apartment complex, located in the rapidly-gentrifying coastal community of Oceanside. 619 S coast highway is just a short walk to the beach and lies on the iconic S Coast Highway 101. The new owner will enjoy the security of having the property situated near successful breweries, restaurants, and the beach. This coastal asset is positioned walking distance from public transit and has effortless access to Interstate 5 and Highway 78. Attractions in the immediate vicinity include Bagby Beer Co Brewery/Restaurant, The Historic Highway 101 Cafe, and VITAL rock climbing gym. The property is comprised of TEN studio units, TWO one-bedroom / one-bath units and ONE shared-room-occupancy unit. Additional rental income is generated from ONE office unit (operated as a studio) and THREE office/storage spaces. The complex consists of three, one-story wood-frame buildings, with concrete slab foundations totaling 3,486 square feet. Recent upgrades include new paint, plumbing in some units, electrical wiring and a new roof on the northern structure. An astute investor can stabilize the property at the higher unit rent levels that are already being achieved in the upgraded units. Air BNB and VRBO are permitted and have also been successful in the past to maximize cash flow.
Oceanside is a coastal city in North County San Diego. It's known for palm-dotted Harbor Beach and nearby Oceanside Harbor, with its marina and shops. To the south, the long Oceanside Pier juts into the Pacific Ocean as the longest wooden foot-traffic pier on the west coast. In the last decade, Oceanside's downtown has transformed into a booming center of commerce. Lined with new 5 story condominium projects at the base of the Oceanside Pier, tourism has attracted a variety of Breweries, Restaurants and shops to the area. Oceanside is bordered by Camp Pendleton Military base to the North, Vista to the East, Carlsbad to the South, and the Pacific Ocean to the West. Oceanside is the most affordable beach community in California, and is revered by developers as an emerging coastal location with untapped potential for growth. Top employers include Camp Pendleton Military, Tri-City Medical Center, and Mira Costa College. The vacancy rate in Oceanside is currently one of the lowest in the country at 2.6%.
