902 Pacific St Oceanside, CA 92054

Property Details for 902 Pacific St

Year built

1937

Lot size

0.10 lot acres

Property size

2,363 SF

Property type

Commercial real estate

APN

150-354-01-00

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.