Burroughs St. & Moreno St. Oceanside, CA 92054

Sale

$2,200,000

4 Units

8 Beds

4 Baths

n/a Area(sq.ft.)

11,994 Lot Size(sq.ft.)

Type	# of Units	Bedroom	Bath	Rent	Actual Rent	Projected Rent
Unit 1	1	2	1	$ 1,850	$ 1,850	$ 2,850
Unit 2	1	2	1	$ 1,850	$ 1,850	$ 2,850
Unit 3	1	2	1	$ 2,500	$ 2,500	$ 2,850
Unit 4	1	2	1	$ 2,075	$ 2,075	$ 2,850
4	4	8	4	$ 8,275	$ 8,275	$ 11,400

MLS #:	240007977SD
Days On Market:	5
County:	San Diego
Property Type:	Residential Income
Price per unit:	$ 550,000
Year Built:	1954

Income Details / Structure / Land & Parking / Interior Features / Exterior Features

Property Details

1634-1638 Burroughs St. & 1633-1637 Moreno St. is a 4-unit property located 0.8 miles from the beach in Oceanside, California. There is approximately 38% upside in rental income. The City of Oceanside is considered one of the strongest rental markets in North San Diego County with great demand for apartment rentals. Historical occupancy in this sub-market is estimated to be approximately 97%-100% and rental rates continue to rise over the years. This neighborhood offers excellent access to the Interstate 5, Interstate 78, and Interstate 15 freeways, which connect to major employment centers in the greater San Diego area. The subject property was built in 1954 and consists of four 2 bedroom/1 bath units that are approximately 624 square feet (2,496 total SF). There are two detached duplex buildings on a large 11,994 SF lot with four garages in total. The property has been professionally managed and well maintained over the years. Residents enjoy private yard spaces, driveway parking, newer dual paned windows, laundry hook ups, being west of Interstate 5, and the 1950's charm. The property also has ADU potential with the large 0.28 AC lot and the garages to expand from. A value add opportunity. Unit square footage is estimated based on the number provided by title and the appraisal. Buyer to verify on their own.