1232 Division St Oceanside, CA 92054-0714
- Apartment buildings
- 3,564 SF
- 0.20 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1232 Division St
- Year built
- 1955
- Lot size
- 0.20 lot acres
- Property size
- 3,564 SF
- Zone code
- R-3:RESTRICTED MULTIPLE
- Property type
- Apartment buildings
- APN
- 150-141-09-00
- APU
- 1501410900
Description
This exceptional mixed-use investment property, situated at 1232 Division Street in Oceanside, California, presents a compelling opportunity for discerning investors. The well-maintained complex comprises six individual units: one studio, two one-bedroom/one-bathroom units, two two-bedroom units, and one three-bedroom unit, totaling approximately 5,400 rentable square feet. Three single-car garages are included on the property. Each unit features individual electric meters, and water is on a single meter. A robust reserve account is in place. Oceanside's rental market is experiencing significant growth, with a 10.8% increase in rents over the past year and a remarkably low 2.0% vacancy rate. This strong market performance indicates substantial potential for rent increases through strategic renovations and capital improvements to both the interior and exterior of the building. The property benefits from its location in a thriving area, close to the revitalized downtown Oceanside district, which is experiencing a surge in new development, including luxury condominiums, hotels, and commercial spaces. The surrounding 78 Corridor is known for its robust and diverse economy, fueled by major employers such as ViaSat, Genentech, Ionis Pharmaceuticals, and Fisher Scientific, providing a stable and high-demand rental market. Furthermore, the proximity to Camp Pendleton, with its substantial population of 80,000 personnel, contributes to a consistently strong and inelastic demand for housing in the area.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $920,000
- 6.5%
- $850,000
- 7%
- $790,000
-
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $1,300,000 Current use
- AUTO REPAIR, GARAGE
- $1,360,000 Change: +5% Conversion: Difficult
- OFFICE BUILDING
- $1,285,000 Change: -1% Conversion: Moderate
- RETAIL STORES
- $1,125,000 Change: -14% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Oceanside
- County
- San Diego
- State
- California
- Longitude
- -117.371
- Latitude
- 33.1964
- CBSA code
- 41740
- CBSA name
- SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA
