OCEANSIDE, Calif. (Oct. 6, 2022) — A three-unit apartment building on South Pacific Street in Oceanside sold for $2,000,000 on Sept. 26, 2022, Commercial Asset Advisors announced.
Mike Conger, Todd Simonsen and Chris Bonar of Commercial Asset Advisors represented the seller, Lori Avis, in the sale of the building at 1842-1846 S. Pacific Street, Oceanside, CA 92054. The buyer, Shane Garst, was represented by Vincenzo Hayes of Abundance Real Estate.
The 2,500 square-foot triplex is located near the waterfront. With below-market rents, it provides strong value-add potential for an investor to renovate the units and stabilize the rents. Other possibilities include converting the property to allow for short-term vacation rentals through platforms such as Airbnb or Vrbo.
“CAA was able to find the right buyer to purchase this highly desirable investment property in a growing submarket of South Oceanside,” said CAA Sales Associate Chris Bonar. “Our experience in navigating some unexpected hurdles allowed us to ensure our client’s goals were met, while simultaneously keeping the sale on track to ensure a smooth transaction for all.”
CAA has represented multiple buyers and sellers in all product types this year all over San Diego County, demonstrating the firm’s ability to maximize values regardless of product type, location, or situation.
For additional information, you may contact Mike Conger, CAA Principal (DRE Lic. # 01381193), at firstname.lastname@example.org; Todd Simonsen, CAA Sales Associate (DRE Lic. # 02131564), at email@example.com; or Chris Bonar, CAA Sales Associate (DRE Lic. # 02097389), at firstname.lastname@example.org.
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 1,400 sale and lease transactions totaling over $500 million in consideration. CAA provides unmatched customer service and strategic advice in all areas, asset types, and transaction structures.