902 Pacific StOceanside, CA 92054

  • Residential income properties
  • 2,363 SF
For Sale
$2,699,000 View listing

Property Details for 902 Pacific St

Year built
1937
Lot size
0.10 AC
Property size (Sq ft)
2,363 SF
Property type
Residential income properties
Property subtype
Multifamily properties

Description

This exceptional 4-unit apartment building, located at 902 S Pacific St, Oceanside, CA 92054, presents a compelling value-add investment opportunity. The 2-story, 1937-built property boasts 2,363 square feet of net rentable space situated on a 0.1-acre lot. With a permitted RT zoning designation, the property offers significant potential for short-term rentals, projected to generate a gross annual income of $314,460, resulting in a pro-forma cap rate of 7.9%. Alternatively, a long-term rental strategy could yield a gross annual income of $154,020, providing a 4.14% cap rate. The asking price is $2,699,000, translating to $674,750 per unit and $1,142.19 per square foot. The land value alone is $601.78 per square foot. Two units are already licensed for short-term rentals, and all four units are currently vacant, allowing for immediate repositioning and value enhancement. The property includes 1.27 parking spaces per 1,000 square feet. Seller financing is available with 50% down. Oceanside's thriving coastal location, coupled with over $1 billion in recent downtown development, ensures strong rental demand and significant long-term appreciation potential. This property offers unparalleled ocean views and is steps from the water, making it an ideal investment for both short-term and long-term rental strategies. The APN is 150-354-01-00.

902 Pacific St, Oceanside, California

Location Insight

City
Oceanside
County
San Diego
State
California
Latitude
33.1851
Longitude
-117.375

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