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October 27, 2021
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Property West Residential Closes $110 Mil Res Buy in Oceanside


Property West Residential has purchased Capella at Rancho del Oro, a 284-unit multifamily asset in Oceanside, in a recent transaction worth $110 mil, which equates to $387.3k per unit. The property was sold by FPA Multifamily.

Constructed in 2001, Capella at Rancho del Oro is located at 4795 Frazee Rd, just off Hwy 76 between Mission Ave and College Blvd in the city’s the Rancho Del Oro area. Situated near Downtown Oceanside and within proximity of Oceanside Harbor, this location is well positioned near the coast and adjacent to two of the main job nodes in North San Diego County -- Palomar Airport District and Ocean Ranch.

Employers such as Rancho Del Oro Technology Park, Palomar Airport District and Ocean Ranch Corporate Center are conveniently accessible. Camp Pendleton is the largest employer in the area and employs thousands on the civilian side as well as active duty service people. MiraCosta College, Palomar College and California State University, San Marcos are also close by. Shopping at Plaza Del Oro, Town Center North, and Old Grove Marketplace is just minutes away.

Christopher J. Zorbas, Tyler Martin, and Alexander Garcia, Jr. with Institutional Property Advisors (IPA) represented the seller and procured the buyer in the deal. According to Zorbas, the total sales price is the highest on record for an apartment transaction in Oceanside.

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