702 North Nevada Street a 14-Unit Oceanside Property Sells for $2,715,000
The 14- unit apartment building located at 702 North Nevada Street has been sold for $2,715,000 or $193,929 per unit.
The San Diego buyer was WSC Investment Partners LLC, a California limited liability company. The seller was Ivywood Lane, LLC, a California limited liability company of Westlake Village.
The seller was represented by Bill Anderson, Principal of ACRE Investment Real Estate Services.
Escrow services were provided by Robert Shaw with the The Lo Coco team of Chicago Title. Title was provided by Cameron Aldrich, also of Chicago Title.
The property is located west of the I5 in Oceanside. The complex offers a secured courtyard setting with onsite-laundry and 9 garages. The unit mix consists of 12 – one bedroom/one bath units and 2 – two bedroom/one bath units. The property sold at a 3.80% Cap Rate, a 15.67 GRM, and a $243.50/Sq. Ft.