445 Garrison St

76
Baths
38,948 Sq. Ft.
$349 / Sq. Ft.
38,948
Sq. Ft.
$349
per Sq. Ft.

Description

Garrison Townhome Apartments is a 46-unit multifamily investment opportunity located in Oceanside, CA. Situated on a spacious 2.19-acre lot, the property offers an attractive mix of one and two-bedroom floor plans across 10 buildings. Units at Garrison Townhome Apartments offer highly desirable features including vinyl and carpet flooring, quartz countertops, stainless steel appliances, shaker-style cabinetry, and more. Each unit at the property features a direct line for laundry machines, an in-demand...Garrison Townhome Apartments is a 46-unit multifamily investment opportunity located in Oceanside, CA. Situated on a spacious 2.19-acre lot, the property offers an attractive mix of one and two-bedroom floor plans across 10 buildings. Units at Garrison Townhome Apartments offer highly desirable features including vinyl and carpet flooring, quartz countertops, stainless steel appliances, shaker-style cabinetry, and more. Each unit at the property features a direct line for laundry machines, an in-demand feature that could help new ownership achieve significant rental premiums. Additionally, each of the 30, two-bedroom units feature two-story townhome construction with a private patio. Garrison Townhome Apartments offers community amenities including tuck-under and surface parking with large storage lockers, a fitness center, and an on-site laundry facility. Since 2018, current ownership has invested more than $1.7 million on comprehensive improvements to both building exteriors and unit interiors. Furthermore, there is the opportunity to further increase cash flow through the conversion of the current leasing office and a portion of the property’s storage spaces into studio accessory dwelling units.
  1. Listed by Tyler Leeson • DRE #01451551 • Brokerage DRE #00530854 • Marcus & Millichap RE Invest • tleeson@marcusmillichap.com

Property Details for 445 Garrison Street

Parking Spaces Total
83
Private Pool
No
Total Units
46.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
38948
Assessor Parcel Number
162-030-34-00
Property Attached YN
false
LISTING UPDATED: 10/08/2024 09:14 AM

Property Details for 445 Garrison Street

StatusClosed
MLS #OC24011401
Days on Market160
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Res Income 2-4 Units
Year Built1978
CountySan Diego County

Location

Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551

Sold By Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551

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Building Information for 445 Garrison Street

Building/Complex445 Garrison StFloor-Stories2Residences-Pet Policy-Pet Policy Details-Year Built1978Building Size-

Payment Calculator

$78,999 per month

30 year fixed, 6.15% Interest

Principal and Interest

$66,284

Property Taxes

$12,715

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 445 Garrison Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $1,154,040
  • Gross Scheduled Income: $1,142,040
  • Vacancy Allowance: 34261
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $1,107,779
  • Net Operating Income: $666,679
  • Other Income Description: Misc
  • Other Income 1: $12,000
  • Financing: Cash To New Loan
Expense Details
  • Operating Expense: $453,100
  • Operating Expense Percent: 40.50%
  • New Taxes Expense: $162,663
  • Fuel Expense: $25,590
  • Electric Expense: $25,590
  • Insurance Expense: $28,800
  • Maintenance Expense: $24,000
  • Professional Management Expense: $39,192
  • Other Expense: $96,083
  • Other Expense Description: Misc
  • Trash Expense: $25,591
  • Water Sewer Expense: $25,591
  • Total Expenses: $453,100
Tax / Assessment Info
  • Tax Tract Number: 018511
  • Tax Census Tract: 185.11
  • CFD/Mello-Roos Fee: $583
  • Tax Lot: 0
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks
  • Community: OCEANSIDE
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: First level
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Pool Heat: N/K
Land/Lot Info
  • Lot Features: Level with Street
  • Number Of Units: 46
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Uncovered Spaces: 42
  • Open Other Spaces Total: 42
  • Parking Garage Spaces: 0
  • Carport Spaces: 41
Property / Structure Info
  • Builders Tract Name: Oceanside
  • Builders Tract Code: Oceanside
  • Residential Styles: Res Income 2-4 Units
Unit Information
Unit 1
  • Unit Type Units Total: 16
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $30,115
  • Unit Type Total Rent: $30,115
  • Unit Type Pro Forma: 36720
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 30
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $65,055
  • Unit Type Total Rent: $65,055
  • Unit Type Pro Forma: 80850
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 10
  • Number Of Separate Electric Meters: 46
  • Number Of Separate Gas Meters: 46
  • Number Of Separate Water Meters: 1

Property History for 445 Garrison Street

DateEvent & SourcePriceAppreciation
Oct 8, 2024

Sold

CLAW #OC24011401MR

$13,600,000
Oct 8, 2024

Sold

CRMLS #OC24011401

$13,600,000
Sep 16, 2024

Sold (Public Record)

Public Record #1542383862

$13,600,000

+18.1% / yr

Jul 11, 2024

Pending

CRMLS #OC24011401

Jun 26, 2024

Pending

CLAW #OC24011401MR

Jun 26, 2024

Pending

SDMLS #OC24011401

Jun 26, 2024

In Contract

CLAW #OC24011401MR

Jun 26, 2024

In Contract

CRMLS #OC24011401

Apr 25, 2024

Price Change

CLAW #OC24011401MR

$14,715,000
Apr 25, 2024

Price Change

CRMLS #OC24011401

$14,715,000
Apr 24, 2024

Price Change

SDMLS #OC24011401

$14,715,000
Jan 18, 2024

Listed (Active)

SDMLS #OC24011401

$15,250,000
Jan 18, 2024

Listed (Active)

CRMLS #OC24011401

$15,250,000
Jan 18, 2024

Listed (Active)

CLAW #OC24011401MR

$15,250,000
Oct 28, 2015

Sold

SDMLS #150027842

$8,100,000
Oct 22, 2015

Sold (Public Record)

Public Record #558407561

$3,100,000

-6.8% / yr

Sep 8, 2015

Pending

SDMLS #150027842

May 22, 2015

Listed (Active)

SDMLS #150027842

$9,000,000
Sep 20, 2007

Sold (Public Record)

Public Record #227150348

$5,500,000
DateEvent & SourcePrice
10/08/2024

Sold

CLAW #OC24011401MR

$13,600,000
10/08/2024

Sold

CRMLS #OC24011401

$13,600,000
09/16/2024

Sold (Public Record)

Public Record #1542383862

$13,600,000

+18.1% / yr

07/11/2024

Pending

CRMLS #OC24011401

06/26/2024

Pending

CLAW #OC24011401MR

06/26/2024

Pending

SDMLS #OC24011401

06/26/2024

In Contract

CLAW #OC24011401MR

06/26/2024

In Contract

CRMLS #OC24011401

04/25/2024

Price Change

CLAW #OC24011401MR

$14,715,000
04/25/2024

Price Change

CRMLS #OC24011401

$14,715,000
04/24/2024

Price Change

SDMLS #OC24011401

$14,715,000
01/18/2024

Listed (Active)

SDMLS #OC24011401

$15,250,000
01/18/2024

Listed (Active)

CRMLS #OC24011401

$15,250,000
01/18/2024

Listed (Active)

CLAW #OC24011401MR

$15,250,000
10/28/2015

Sold

SDMLS #150027842

$8,100,000
10/22/2015

Sold (Public Record)

Public Record #558407561

$3,100,000

-6.8% / yr

09/08/2015

Pending

SDMLS #150027842

05/22/2015

Listed (Active)

SDMLS #150027842

$9,000,000
09/20/2007

Sold (Public Record)

Public Record #227150348

$5,500,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 445 Garrison Street

Taxable ValueLand$9,000,000Additions$4,600,000Total$13,600,000
Tax Record2025$152,585 ($12,715 / month)
Home Facts
Total Finished SqFt38,948 SqFtAbove Grade Finished SqFt38,948 SqFtLot Size95,396 SqFtStyleMulti-Family Res (5+ Units)Year Built1978ZoningCOMMERCIALCountySAN DIEGOAPN162-030-34-00

Schools near 445 Garrison Street

This home is within Oceanside Unified School District.
Rating
School
Type
Grades
Distance
Charter - K to 12
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Pacific View Charter School
CharterK to 12

Lincoln Middle School
Public6 to 8

Ocean Shores High (Continuation) School
Public9 to 12

Oceanside High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551

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