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2/11/26
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The Flats, an 18-unit multifamily property with two ground-floor retail spaces in Oceanside, traded hands in a $14.425 mil deal. The property, located at 1931 South Coast Highway, was acquired by Dan and Cynthia Kronemyer Family Trust.
Completed in 2024, The Flats consists of 18 one and two bedroom floorplans and 2.8k sf of street front retail. Residential interiors include 10-foot to 17.5-foot ceiling heights, custom cabinetry, quartz countertops, Samsung appliances with Bosch cooktops, and in unit washer and dryers. Units also feature oversized balconies, with select residences offering ocean views.
The property is located near the Carlsbad Village corridor and provides convenient access to Interstate 5 and State Route 78, offering connectivity throughout North San Diego County.
CBRE’s Rachel Parsons, Philip Buckley and Anna Kampling represented the seller, FABRIC, in the transaction. Conor Brennan, also of CBRE, repped the Dan and Cynthia Kronemyer Family Trust in the acquisition.
“The Flats is a recently delivered coastal multifamily property with modern finishes, ground floor retail, and a location that continues to see steady demand,” said Parsons, executive vice president. “Newly built assets of this scale and proximity to the beach are limited in North County, offering investors immediate strong in place income along with the potential for long term appreciation.”
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