Barnes Manor Apartments | 220 Barnes Street, Oceanside, CA 92054 | 6 Units | Built in 1979 / Renovated in 2017 | $1,450,000 | $241,667 Per Unit | $386.67 Per SF | 3.95% CAP
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
San Diego, CA – July 9, 2018 – ABI Multifamily, the Western U.S.’s leading multifamily brokerage and advisory services firm, is pleased to announce the $1,450,000 / $241,667 Per Unit sale of the Barnes Manor Apartments located in Oceanside, California. Built in 1979 and recently renovated, the property consists of one two-story rental building on 0.10 acres. Of frame construction with pitched composition shingle roofs, Barnes Manor's unit mix consists entirely of one-bedroom units 625 square feet in size.
"The property is in a terrific location, approximately one mile to Oceanside Pier, with full access to major transportation arterials and beaches," states Patrick J. Doyle, CCIM, Partner at ABI, and co-lead broker for the seller in this transaction along with Eric Turner, Senior Vice President. "Additionally the property has been completely renovated and repositioned which provides the buyer with a low maintenance property which has maintained consistent high occupancy levels," states Eric Turner.
The buyer is a private investor based in Newport Beach, California.
The seller is a private investment company based in San Diego, California.
The multifamily brokerage team of Patrick J. Doyle, CCIM and Eric Turner represented the seller in this transaction.
ABI Multifamily is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, San Diego and Sacramento the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.