Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

21

Building size

15,013 sqft

Lot size

14,253 sqft

Year built

1970

Stories

3

Garage spaces

8

Pool

None

Status

Active

Days on market

42

MLS #

246783736

About this property

$500k Price Reduction for a quick sale! 330 S Horne St, Oceanside presents a designer-grade renovated, 21-unit coastal multifamily asset offering immediate cash flow, a diverse unit mix, and a differentiated resident experience. The property combines thoughtfully designed interior finishes tailored to Coastal Southern California with strategic enhancements including private yards, rear patios, balconies, select ocean-view residences, garages, in-unit laundry in select units, and coastal-oriented community amenities. The asset currently generates $667,819 in Gross Scheduled Income and $446,186 in NOI, yielding a 4.96% in-place cap rate. At full market operations, Gross Scheduled Income is projected at $699,113 and NOI at $475,327, producing a 5.28% pro forma cap rate. The property consists of (1) Studio, (13) 1 Bed / 1 Bath, (1) 2 Bed / 1 Bath, and (6) 2 Bed / 2 Bath residences. Select residences feature private front yards or rear patios, while upper units include balconies and ocean views. 11 of the 21 units have in-unit washer/dryers, with an owner-owned community laundry room retained for the balance of the property. Ownership completed a comprehensive renovation designed to position the property above traditional rental-grade product. Interiors feature Coastal Southern California tailored color schemes and finishes including quartz countertops, pastel tile backsplashes, stainless appliances, Terracotta Spanish style tile bathroom floors, tile wall shower & tub enclosures, and natural oak style vinyl flooring. Exterior improvements include a full re-texture and repaint with Baja California inspired color palettes, dual pane windows, drought resistant and low maintenance California desert scape courtyard landscaping with irrigation, updated exterior fixtures and suite numbers, and hand painted building murals. Resident amenities include a surf shower, secure electric bike parking, and a common-area grill with outdoor shaded seating. Major infrastructure improvements include a main electrical service upgrade from 200A to 400A in 2023 with replacement of all unit subpanels, the sewer main lateral was descaled with an epoxy liner installed in 2014, replacement of the main hot-water line serving the property in 2025, and replacement of the property water heater in 2025. SB 721-deck inspections were also completed.

Location

330 S Horne Street

Oceanside, San Diego, CA, 92054