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12/23/24
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A 27-unit multifamily portfolio in Oceanside has sold in multiple transactions totaling $14.5 mil. The portfolio consists of five parcels that were sold in four transactions to separate buyers.
The properties are located at 151, 203-05, 211 and 217 S Myers St, south of Mission Ave, just a couple of blocks from the new Seabird Resort and Mission Pacific Beach Resort, and just three blocks from the Oceanside Pier. The lots total 28.6k sf in size with 13.6k sf of rentable building space.
The unit mix between the properties consists of three studios, 21 one-bedroom/one-bath units and three two-bedroom/one-bath units. The portfolio includes 12 garages and a parking lot.
Angelo La Bruna with Apartment Realty Group represented the seller in all of the transactions. The buyers included an all-cash local investor, two different 1031 exchange buyers, and a developer from Northern California. According to La Bruna, the combination of the coastal location with the significant upside potential resulted in substantial interest from local and regional investors.
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