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Oceanside 9-Unit Multi-Family Property Sells for $4.6 Million, CAA Announces

OCEANSIDE - San Diego, CA (March 13, 2024) – Commercial Asset Advisors (CAA) is pleased to announce the successful sale of a nine-unit apartment complex located at 1120 S Pacific Street, Oceanside, CA 92054. The property, located adjacent to the coast of Oceanside, was acquired for $4,612,500 on February 15, 2024.


The three-story 8,541 square foot property consists of 3 studios, 3 one bed, 3 two bed units, each featuring 1 bath, private parking space, washer/dryer hookups, a newly renovated rooftop overlooking the ocean, and all necessary appliances, providing residents with an exceptional living experience. Its prime location, just a walk away from the pier, adds significant value, offering an abundance of amenities for its tenants.


At the time of sale, the nine-unit apartment complex was fully occupied and presented a unique value-add opportunity for future enhancements and rent adjustments. Brian Jenkins and Gino Kalasho of Commercial Asset Advisors represented the Buyer, American A-One Investments, while the Seller, Metrotheater LLC, was represented by Juan Martinez Milan of Foster Hamilton. The transaction was facilitated with the assistance of Robert Shaw and Cameron Aldrich from Chicago Title.


This transaction marks another successful completion of a 1031 exchange for American A-One Investments, significantly improving the Buyer's income, investment portfolio, and acquiring a premium multifamily location in the Oceanside area. American A-One Investments engaged CAA's services to navigate the 1031 exchange process and secure an additional well-positioned up-leg.


Brian Jenkins, Co-Founder of Commercial Asset Advisors, commented on the accomplishment, saying, “We are elated to mark another successful 1031 exchange transaction and assist the Buyer to fulfill his goals. Our determined team utilized the momentum from the last 1031 exchange, 1369 Pacific Beach Drive, and the resources to have another deal in-line that would be beneficial towards our Buyer’s goals and needs. We are thrilled to have assisted in substantially improving the Buyer’s real estate portfolio.”


Commercial Asset Advisors remains unwavering in its pledge to deliver outstanding real estate solutions, even amidst demanding market conditions. This transaction stands as proof of CAA's unwavering commitment to assisting clients in reaching their investment objectives and broadening their real estate portfolios.


Moreover, CAA has effectively advocated for numerous buyers and sellers across a diverse range of product categories throughout San Diego County this year. This underscores the firm's proficiency in optimizing values irrespective of the product type, location, or prevailing circumstances.


For additional information, contact:

Brian Jenkins, CAA Principal (DRE Lic. #01814828), at Brian@caacre.com

Gino Kalasho, Senior Vice President (DRE Lic. #02046687), at Gino@caacre.com


About Commercial Asset Advisors

Commercial Asset Advisors is a San Diego-based commercial real estate brokerage that specializes in serving the unique needs of individual private clients, as well as family offices, corporate, institutional, nonprofit and national organizations. As a full-service CRE firm, our team has assisted property owners from Central San Diego, North County, East County, South County and beyond to maximize the value of their investments including office, retail, industrial, apartment and multi—family, mixed-use projects, ground-up development tenant representation and much more. With experience earned through exceptional hard work, CAA has successfully completed over 1,500 sale and lease transactions totaling over $1.5 billion in consideration. CAA provides unmatched customer service and strategic advice in all areas, asset types, and transaction structures.


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