Log In/Sign Up
Your email has been sent.
8 Condo Quality Townhomes - Coastal Oceanside 514 S Myers St 8 Unit Apartment Building $8,187,000 CAD ($1,023,375 CAD/Unit) 2.61% Cap Rate Oceanside, CA 92054
Investment Highlights
- Irreplaceable Coastal Real Estate Near the Oceanside Pier
- Each Unit has In-Unit Laundry, Fireplace, and Two-Car Garage
- Condo Conversation Opportunity + Value Add Opportunity
- Massive Two-Story Townhome Units: 2 & 3 Bedroom Units
- Built to Condo Specs in 1990 w/ Direct Garage Access & Secure Gated Parking
- West of S Coast Hwy 101 with Ocean Views
Executive Summary
West of S Coast Hwy 101 in Oceanside, this 8-Unit multifamily property has everything an investor looks for: Prime coastal real estate, massive units, 2-car garages for each unit, in-unit laundry, and upside in rental income. The Townhomes on South Myers were constructed in 1990 and consist of two (2) 3Bedroom / 2Bathroom 1,271sf units, and six (6) 2Bedroom / 2Bathroom 1,074sf units situated on a 11,651sf lot. Each unit is a two-story townhome with select units capturing ocean views. Tenants are just a short walk to the beach, Downtown shops and restaurants, the Oceanside Pier, and the Mission Pacific Hotel / Seabird Ocean Resort. This is a rare opportunity to acquire an incredible value-add community in one of San Diego’s most sought after coastal markets.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$374,310
|
$39.78
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$11,230
|
$1.19
|
| Effective Gross Income |
$363,080
|
$38.59
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$149,260
|
$15.86
|
| Net Operating Income |
$213,820
|
$22.73
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $374,310 |
| Annual Per SF | $39.78 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $11,230 |
| Annual Per SF | $1.19 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $363,080 |
| Annual Per SF | $38.59 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $149,260 |
| Annual Per SF | $15.86 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $213,820 |
| Annual Per SF | $22.73 |
Property Facts
| Price | $8,187,000 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $1,023,375 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 2.61% | Building Size | 9,409 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 21.87 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1990 |
| Property Type | Multifamily | Parking Ratio | 0.85/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3 - Multi-Family 10 units or less | ||
| Price | $8,187,000 CAD |
| Price Per Unit | $1,023,375 CAD |
| Sale Type | Investment |
| Cap Rate | 2.61% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 21.87 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.27 AC |
| Building Size | 9,409 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1990 |
| Parking Ratio | 0.85/1,000 SF |
| Zoning | R3 - Multi-Family 10 units or less |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Washer/Dryer Hookup
- Security System
- Views
Site Amenities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 2 | $4,503 CAD | 1,271 |
| 2+2 | 6 | $3,698 CAD | 1,074 |
1 1
Walk Score®
Very Walkable (81)
Property Taxes
| Parcel Number | 150-263-19 | Improvements Assessment | $1,305,303 CAD (2025) |
| Land Assessment | $4,049,802 CAD (2025) | Total Assessment | $5,355,106 CAD (2025) |
Property Taxes
Parcel Number
150-263-19
Land Assessment
$4,049,802 CAD (2025)
Improvements Assessment
$1,305,303 CAD (2025)
Total Assessment
$5,355,106 CAD (2025)
1 of 10
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
8 Condo Quality Townhomes - Coastal Oceanside | 514 S Myers St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.