South Ohana 1842-1846 S Pacific St 4 Unit Block of Flats £4,441,293 (£1,110,323/Unit) 4.90% Net Initial Yield Oceanside, CA 92054
INVESTMENT HIGHLIGHTS
- South Ohana is a rare opportunity to own a thriving rental and multifamily property awash in abundant natural light and ocean views.
- Robust sales package including all furniture and artwork, beach gear and a golf cart, 28 paid-off solar panels, and a Superhost Airbnb listing.
- Proudly own three separate contemporary rental units and a permitted ADU and amenities including a charming courtyard and laundry.
- In the heart of Oceanside, just seconds from the beach, the 101, and North County Transit provide seamless access to Carlsbad and beyond.
- Walkable to the South Oceanside Beach and local amenities including Tanner’s Prime burgers, The Taco Stand, and Urth Caffe inside Municipal.
EXECUTIVE SUMMARY
This striking waterfront property consists of three separate rental units, each with its own address, and a permitted studio ADU, providing flexibility for living and investment options. A thoughtfully designed communal courtyard features a putting green, firepit, and outdoor shower, creating a perfect space for relaxation and entertainment. Additional amenities include a garage, laundry facility, and 28 fully paid solar panels for energy efficiency. Recently renovated and fully furnished with designer pieces, South Ohana is ready for immediate use or rental. The sale includes all furnishings and a highly rated Airbnb Superhost profile with 16 months of profitable rental history.
Nestled a block from the beach and the iconic 101, this property offers guests the ultimate coastal experience with panoramic views. Residents and vacationers love the walkable access to restaurants, boutique shopping, and vibrant local attractions. Whether you’re seeking an income-generating investment or a personal retreat, this turnkey property offers unparalleled value in a prime coastal location. Don’t miss this rare opportunity to own a ready-to-go beachside oasis.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
£235,061
|
£68.31
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£235,061
|
£68.31
|
| Net Operating Income |
-
|
-
|
PROPERTY FACTS
| Price | £4,441,293 |
| Price Per Unit | £1,110,323 |
| Sale Type | Investment |
| Net Initial Yield | 4.90% |
| Gross Rent Multiplier | 18 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,441 SF |
| Number of Floors | 2 |
| Year Built/Renovated | 1951/2022 |
| Parking Ratio | 1.45/1,000 SF |
| Zoning | R3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
| Studios | 1 | - | - |
ABOUT NORTH COUNTY COAST
The North County coastal area includes the beach towns of Carlsbad and Oceanside, while Camp Pendleton occupies the north. Those stationed at Pendleton provide a source of inelastic demand for housing in the areas. With arterial freeways running north and south (interstates 5 and 15) and east and west (state routes 76 and 78), residents can move through San Diego with relative ease. The beach towns of Carlsbad and Oceanside are filled with trendy restaurants and boutique shopping.
North County has a significant share of residents employed in retail and leisure and hospitality, but it also has one of the largest concentrations of households with STEM degrees in the region outside of the UC San Diego area, and the tech cluster in this part of the metro employs nearly 25,000 people.
The State Route 78 corridor includes a heavy presence of technical manufacturing jobs. Fortified by companies such as ViaSat, Genentech, Ionis Pharmaceuticals, and Thermo Fisher Scientific, the economic backbone in North County is strong and filled with high-paying jobs of potential renters.
Housing is in high demand here, and investors have shown historically been very active here.
NEARBY AMENITIES
RESTAURANTS |
|||
|---|---|---|---|
| Anitas Restaurant | Mexican | £ | 10 min walk |
| Best Pizza & Brew | Pizza | ££ | 10 min walk |
| Pour House | American | £££ | 10 min walk |
| Hill Street Donut House | Donuts | £ | 11 min walk |
| Kona Hut | Coffee | £ | 14 min walk |
| Angelo's Burgers | Burgers | £ | 14 min walk |
| Primo Market | Grill | £ | 15 min walk |
RETAIL |
||
|---|---|---|
| 7-Eleven | Convenience Market | 7 min walk |
HOTELS |
|
|---|---|
| Tapestry Collection by Hilton |
27 rooms
6 min drive
|
| SpringHill Suites |
104 rooms
6 min drive
|
| JdV by Hyatt |
161 rooms
6 min drive
|
| Destination by Hyatt |
226 rooms
6 min drive
|
PROPERTY TAXES
| Parcel Number | 153-251-11 | Improvements Assessment | £379,111 |
| Land Assessment | £1,260,288 | Total Assessment | £1,639,398 |
SALE ADVISORS
SALE ADVISORS
Shane Garst
Shirley Slee, Real Estate Agent Turner Real Estate
This success prompted her to get my Real Estate License, and her passion for the profession remains fierce. She has a degree in business and believes that exceeding her client’s expectations is her number one goal.
