Bought with Tyler Leeson • Marcus & Millichap RE Invest
$13,600,000
$14,715,000
7.6%For more information regarding the value of a property, please contact us for a free consultation.
38,948 SqFt
SOLD DATE : 10/08/2024
Key Details
Sold Price $13,600,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 38,948 sqft
Price per Sqft $349
MLS Listing ID CROC24011401
Sold Date 10/08/24
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1978
Lot Size 2.190 Acres
Property Description
Garrison Townhome Apartments is a 46-unit multifamily investment opportunity located in Oceanside, CA. Situated on a spacious 2.19-acre lot, the property offers an attractive mix of one and two-bedroom floor plans across 10 buildings. Units at Garrison Townhome Apartments offer highly desirable features including vinyl and carpet flooring, quartz countertops, stainless steel appliances, shaker-style cabinetry, and more. Each unit at the property features a direct line for laundry machines, an in-demand feature that could help new ownership achieve significant rental premiums. Additionally, each of the 30, two-bedroom units feature two-story townhome construction with a private patio. Garrison Townhome Apartments offers community amenities including tuck-under and surface parking with large storage lockers, a fitness center, and an on-site laundry facility. Since 2018, current ownership has invested more than $1.7 million on comprehensive improvements to both building exteriors and unit interiors. Furthermore, there is the opportunity to further increase cash flow through the conversion of the current leasing office and a portion of the property’s storage spaces into studio accessory dwelling units.
Location
State CA
County San Diego
Interior
Fireplace No
Laundry Community Facility
Building
Lot Description Level
Water Public
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