1036 S Pacific Street

Description

We are pleased to present 1036 S Pacific St, a very well maintained 7-unit apartment complex located in the pride of ownership coastal neighborhood of Oceanside, San Diego. The property is comprised of three (6) one-bedroom/one-bathroom and one (1) two-bedroom/one-bathroom units that total approximately 4,150 rentable square feet. The property also has seven (7) single-car garages. Overall, Oceansides rents have grown by 10.8% in the past year and the 2.0% vacancy rate is trending at an all-time low. The property presents the potential to capture significant rent premiums by leveraging rental market momentum and executing an interior and exterior renovation program. Notably, the downtown Oceanside district is steeped in many new development projects, including luxury condominiums, beachfront hotels, timeshares, retail, and commercial space. The 78 Corridor boasts one of the most diverse, dynamic economies in the country, with high paying technical manufacturing jobs fortified by ViaSat, Genentech, Ionis Pharmaceuticals, and Fisher Scientific. Camp Pendleton, with its large daily population of 80,000 personal, also contributes significantly to the inelastic source of demand for housing. The quality of life in downtown Oceanside is unparalleled. Residents enjoy short walks to sandy beaches, cafes, a burgeoning dining scene, boutiques, luxury beachfront accommodations, and a wide array of outdoor activities. The Oceanside Pier and Harbor Village are icons in Oceanside and serve as a backdrop for significant events.