27-Unit Apartment Portfolio Sells in Coastal Oceanside

Apartment Realty Group Brokers 27-Unit, 5-Parcel Portfolio Near the Oceanside Pier.

SAN DIEGO, CA, UNITED STATES, December 18, 2024 /EINPresswire.com/ -- Angelo La Bruna, Senior Vice President of Apartment Realty Group (ARG) represented the seller in the sale of a 27-Unit multifamily apartment portfolio on S Myers St in Oceanside, CA. The portfolio consisted of five (5) parcels and was sold in four (4) transactions to separate buyers. Located at 151, 203-05, 211, & 217 S Myers St, the lot size totaled 28,636sf including 13,633sf of rentable building space. The unit mix consisted of twenty-one (21) 1Bedroom/1Bathroom units, three (3) studios, and three (3) 2Bedroom/1Bathroom units with twelve (12) garages and one parking lot. The location is just two blocks from the brand new Seabird Resort and Mission Pacific Beach Resort, and just three blocks from the Oceanside Pier.

"The combination of the coastal location with the significant upside potential resulted in substantial interest from local and regional investors. Ultimately the buyer profiles of the four transactions included an all-cash local buyer, two different 1031 exchange buyers, and a developer from Northern California. We were able to procure double-digit offers across the entire portfolio to create competition for such unique assets and ultimately achieve the highest sales price for our client." said La Bruna. The final cumulative closing price was $14,500,000.

Angelo La Bruna
Apartment Realty Group
+1 858-247-1095
angelo.labruna@arg1031.com