Friday, June 20, 2008

Marcus & Millichap Arranges Sale of 91-Unit Apartment Community in Oceanside, CA for $10.2M

OCEANSIDE, CA -– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Country Club Apartments, (top right photo) a 91-unit multi-family community in Oceanside. The sales price of $10.2 million represents $112,088 per unit.

John L. Nguyen and Jonathan Mitchell, both vice president investments and directors of Marcus & Millichap’s National Multi Housing Group in Newport Beach, represented the seller, a private entity, as well as the buyer.

“Country Club Apartments presented an excellent value-added opportunity for the buyer, who has major renovations planned for the property and intends to convert it to affordable housing,” says Nguyen.

Located at 201 Country Club Lane, the 76,638-square foot apartment community consists of one two-story building situated on an 112,385-square foot lot, within close proximity to schools, shopping, public transportation and the beaches of Oceanside.

Country Club Apartments boasts a strong mix of one-, two- and three-bedroom units. Each unit has their own balcony and/or patio. The kitchens are equipped with electric ranges and ovens. Amenities include a beautiful courtyard, laundry room and tuck-under parking.

Press Contact: Stacey Corso
Communications Department
(925) 953-1716

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