308 S The Strand, Oceanside, CA 92054
- $14,000,000
- List Price
- $14,000,000
- Status
- ACTIVE
- MLS#
- 260023450SD
- Lot Size
- 10,018
- Acres
- 0.23
- Days on Market
- 2
- Property Type
- Commercial
- Property Sub Type
- Mixed Use
Property Description
Marbella is a spectacular piece of Oceanside history. Originally, two properties built in different eras were joined together in the 1970's by matching its Spanish-Mission style architecture. Marbella was fully remodeled in 2021, with all new interiors, solar panels, structural upgrades, and fully furnished units. Marbella is an oceanfront property comprised of 21 units in 4 separate buildings, including studios, one-bedrooms, and a large 3-bedroom unit. In addition, there are 14 individual single-car garages with new garage doors. This property remains as stunning as ever with a brand-new roof, stucco, and paint. All units are fully furnished and have been fully remodeled with stunning interior designs. New building ordinances prohibit building above street level; Marbella is still able to enjoy its towering third-floor views. Even its one-of-a-kind deck sits higher than the street, allowing guests to enjoy the ocean views above passersby. There is an opportunity to reduce overall expenses by transitioning to monthly or leased rentals. The investor can transition 100% to monthly rentals or keep some of the units as vacation rentals to enjoy higher revenue through the summer months.
Additional Information
- Heat
- Forced Air
- Cooling
- Yes
- Exterior Construction
- Drywall, Frame, Stucco
- Roof
- Tile
- Attached Structure
- Detached
- Number Of Units Total
- 21
- Gross Scheduled Income
- $1,187,106
- Operating Expense
- 922217
Listing courtesy of Listing Agent: Craig Stewart (cstewart@acrecommercial.com) from Listing Office: Acre Investment Real Estate.
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