CBRE Facilitates $8.62M Sale Of 25-unit Multifamily Property In Oceanside

A 25-unit multifamily property located at 2326 Greenbrier Drive in Oceanside, Calif., was recently sold for $8.62 million. The property spans 19,278 square feet and was sold for $447 per square foot, amounting to $344,800 per unit.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $8,620,000
• Address: 2326 Greenbrier Drive
• Market: Oceanside
• Asset Type: Multifamily
• Acres: 1.15
• Brokers: Daniel Blackwell, Amanda Fielder & Mike O’Neill - CBRE
• Units: 25
• PPU: $344,800
• SF: 19,278
• PPSF: $447

CBRE's team, including Executive Vice President Dan Blackwell, facilitated the transaction of the Hillsborough Apartments. The sale was guided to completion with the assistance of the 1031 exchange buyer, a repeat client from San Diego County. The buyer saw the acquisition as a value-add opportunity with the potential to enhance rental income.