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Key Details
Sold Price $2,156,644
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
Square Footage 624 sqft
Price per Sqft $3,456
Subdivision Oceanside
MLS Listing ID 240007977
Sold Date 05/21/24
Bedrooms 8
Full Baths 4
HOA Y/N No
Year Built 1954
Lot Size 0.275 Acres
Property Description
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.
Location
State CA
County San Diego
Community Oceanside
Area Oceanside (92054)
Zoning RS
Interior
Heating Natural Gas
Appliance Wall/Gravity
Exterior
Exterior Feature Wood/Stucco
Garage Unit1:Assigned Unit2:Assigned Unit3:Assigned Unit4:Assigned
Garage Spaces 4.0
Fence Partial
Roof Type Composition
Building
Lot Description Corner Lot, Public Street, Sidewalks, Street Paved, West of I-5
Story 1
Lot Size Range .25 to .5 AC
Sewer Sewer Connected
Water Meter on Property
Level or Stories 1 Story
Schools
Elementary Schools Oceanside Unified School District
Middle Schools Oceanside Unified School District
High Schools Oceanside Unified School District
Others
Acceptable Financing Cash, Conventional, Exchange
Space Rent $1,850
Listing Terms Cash, Conventional, Exchange
Financing Cash
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Bought with Michelle Jacob • Compass