Michelle Esquivel
michelle@michellehomesellingteam.com
Michelle Esquivel
michelle@michellehomesellingteam.com5,209 Sqft Lot
5,209 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID ND24183483
HOA Y/N No
Year Built 1965
Lot Size 5,209 Sqft
Property Description
This exceptional mixed-use property offers a rare investment opportunity in Oceanside. It combines commercial and residential units in a rapidly growing area. Perfectly positioned to benefit from the city's ongoing development and rising real estate values, this property presents a diversified income stream and long-term appreciation potential.
Property Highlights:
Mixed-Use Investment: This property features retail and residential units, providing multiple revenue sources and catering to a diverse tenant base.
Prime Location Advantages:
Close to Ocean: Just five blocks from the beach, enhancing the appeal of retail and residential spaces.
Downtown Proximity: Within walking distance to shopping, dining, and entertainment, increasing tenant and customer demand.
Adjacent to 1010 Building: Near a prominent hotel and live-work lofts, which drive foot traffic and support potential rent growth.
Current Financial Performance:
Commercial Units: Two retail spaces currently rented at $1,590 each, with potential for rent adjustments, likely under market value.
Residential Units:
Two-Bedroom Unit: Recently remodeled and available for rent, presenting a fresh opportunity for new tenants.
Beach Cottage: Includes a one-car garage, rented at $2,000, with room for potential rent increases.
Parking: Convenient back alley with four parking spaces.
Investment Growth Opportunities:
Rent Increases: Potential to adjust rents across all units, mainly if current rates are below market.
Appreciation Potential: Oceanside's real estate market has thrived, with property values rising significantly in recent years. Ongoing developments like the 1010 Building and other downtown enhancements are expected to boost property values further.
Future Development Plans: Oceanside’s 2023 Downtown Development initiatives highlight continued growth, projecting increased demand for commercial and residential spaces. This property is well-positioned to benefit from these future enhancements.
Why Invest in Oceanside? Oceanside continues to be one of Southern California’s thriving coastal communities, attracting investors with its favorable market trends, coastal location, and strategic city development plans. The area's investment potential is backed by ongoing growth in commercial and residential sectors, making this property an attractive opportunity for immediate revenue and long-term appreciation
Location
State CA
County San Diego
Area 92054 - Oceanside
Zoning Commercial/RH-U
Rooms
Other Rooms Living Quarters
Interior
Heating Space Heater
Cooling None
Fireplace No
Laundry See Remarks
Exterior
Fence Wood
Utilities Available Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected
Waterfront Description Ocean Side Of Freeway
Roof Type See Remarks
Present Use See Remarks
Total Parking Spaces 4
Building
Lot Description Paved, Street Level, Walkstreet
Story 2
Water Public
Additional Building Living Quarters
Others
Tax ID 1472821000
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
michelle@michellehomesellingteam.com
515 S Myrtle Ave, Monrovia, CA, 91016, USA