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Orange County Firm Trades for Oceanside Multifamily

62-Unit Property Trades for $18.3 Million

Tustin-based River Oaks Management Inc. is the new owner of Terra Oceanside, a 62-unit apartment complex in Northwest San Diego County. River Oaks bought the multifamily property from an Irvine-based family trust for $18.3 million, or $295,161 per unit.

Terra Oceanside, located at 3964 & 3970 Waring Road in Oceanside, was built in 1980 and features a mix of studio, one- and two-bedroom units.

The family trust sold the property as part of a 1031 exchange.

Drew Holden, Matthew Kipp and Tyler Leeson of Marcus & Millichap were the brokers on the deal.

“The listing attracted multiple competitive offers, reflecting strong investor demand in the North County San Diego submarket,” Leeson, executive managing director investments and founder of The Leeson Group of Marcus & Millichap’s Orange County office, said in a statement.

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Parimal Rohit
Parimal Rohit
Parimal M. Rohit has nearly two decades of experience in journalism and recently covered Texas real estate for CoStar News and Austin Business Journal. He was also the editor of The Log, covering Southern California's and Northern Mexico's maritime and environmental spaces. Throughout his career, Rohit has also covered the Los Angeles Lakers, Los Angeles Dodgers, Bollywood and California politics. Rohit won 12 reporting awards from the San Diego Press Club, including best environmental reporting and best essay/commentary, and the Fort Worth chapter of the Society of Professional Journalists. His hobbies include photography, podcasting, travel and filmmaking. He is also the recipient of several fellowships, including one through the USC Annenberg Center for Health Journalism and another through the RK Mellon Foundation.
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