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Alexander Pfleger
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P: 858.483.4687
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516 S The Strand
Oceanside, California CA 92054
Price: $4,550,000
ACTIVE Status, Bedrooms, Full Baths

Listing ID # 190000916

Property Description:

Rare Newer Construction (2012) Oceanfront Duplex in beautiful coastal Oceanside, featuring exceptionally large units with stunning white water ocean views. Comprised of a 4-bedroom/4-bathroom unit (downstairs) and a 4-bedroom/4.5-bathroom unit (upstairs), each with private ocean view balconies, individual elevators (2) from the units to the subterranean parking garage (which has four (4) parking spaces plus ample storage room), and built to condo specifications.Unique oceanfront property with hardwood and tile flooring throughout, well-appointed kitchens and bathrooms with newer finishes, fixtures and appliances, recessed lighting, central heat and A/C, tankless water heaters, dedicated laundry rooms in each unit with hookups, spacious units, convert to separate condos with separate APNs as a potential exit strategy down the road. Upper unit has ocean views from most rooms, as well as two separate balconies, higher concave ceiling w/ recessed lighting, feels like you are floating on top of the ocean views. Lower unit has ocean view balcony off of living area, and is similar in many respects to the upper unit. Current tenant has been occupying both units since at least 2013, and their long-term lease ends in February, 2019, when turning the property into a Vacation Rental would likely be the best strategy for maximizing income.

Primary Features

Community: OCEANSIDE
Neighborhood: Coastal Oceanside
Complex/Park: N/A
Short Sale: no
Net Operating Income Projected: 182000
Number of Buildings: 1
Number of Units: 2
Tenant Pays: Sewer, Electricity, Gas/Propane, Hot Water
Water: Meter on Property, Other/Remarks
Sewer/Septic: Sewer Connected
Security: Automatic Gate
Roof: Composition
Exterior: Stucco
Heat Equipment: Forced Air Unit, Other/Remarks
Cooling: Central Forced Air

Interior Features

Levels: Other/Remarks
Unit 1 Estimated SqFt: 2825
Unit 1 Laundry Hook Ups: Yes
Unit 1 Number of Bedrooms: 4
Unit 1 Number of Full Baths: 4
Unit 1 Number Total Baths: 4
Unit 2 Estimated SqFt: 3000
Unit 2 Laundry Hook Ups: Yes
Unit 2 Number of Bedrooms: 4
Unit 2 Number of Full Baths: 4
Unit 2 Number of Half Baths: 1
Unit 2 Number Total Baths: 5
Water Heater Type: Tankless

External Features

Entry Only: no
Fencing: Partial
Lot Size: 4,000-7,499 SF
Parking Garage Unit 1: Underground
Parking Garage Unit 2: Underground
Site: West of I-5
Topography: Bluff/Canyon Rim, Level, Other/Remarks
Unit 1 Exclusive Use Yard: yes
Unit 2 Exclusive Use Yard: no
View: Ocean, Panoramic Ocean

Location Information

Cross Street(s): Ash St.
Market Area: Coastal North
Zip/Area: OCEANSIDE (92054)

Financial Details

Annual Expense Actual: 73000
Annual Expense Projected: 130000
Assessors Parcel Number: 150-260-11-00
Cap Rate Actual: 2.06
Cap Rate Projected: 4
Gross Rent Multiplier Act: 27.28
Gross Rent Multiplier Projected: 9.48
Gross Scheduled Income Actual: 166800
Gross Scheduled Income Projected: 480000
Sale/Rent: For Sale
Terms: Cash, Conventional
Unit 1 Deposit: 6100
Unit 1 Projected Rent: 18000
Unit 1 Rent Actual: 6400
Unit 2 Deposit: 3000
Unit 2 Projected Rent: 22000
Unit 2 Rent Actual: 7500


Age Restrictions: N/K
Association ID: San Diego Association of REALTORS (SDAR)
Heat Source: Natural Gas
Number of Units w/Dryers: 2
Number of Units w/Garage: 2
Number of Units w/Patios: 2
Number of Units w/Range/Oven: 2
Number of Units w/Refrigerator: 2
Number of Units w/Washers: 2
Number Units w/Cooling: 2
Number Units w/Dishwashers: 2
Possession: Other/Remarks
Property Type: 2-4 UNITS
Sales Restrictions: N/K

Zoning Info

Listing courtesy of Palma Commercial
©2019 Sandicor, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from San Diego Multiple Listing Service (SDMLS). The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data updated on Thursday, April 18th, 2019 03:08:21 PM.

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Office: 858-483-4687 | Cell: 619-339-7334 | Email: [email protected] | CA BRE #01043581 | NMLS# 373603

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Information Deemed Reliable But Not Guaranteed. The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information, including square footage, while not guaranteed, has been acquired from sources believed to be reliable.

Last Updated: 2019-04-04