606 Cassidy St. A Rare Coastal Gem Owner-User or Investment Opportunity

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1 606 Cassidy St. A Rare Coastal Gem Owner-User or Investment Opportunity $825, Cassidy Street, Oceanside, CA Exclusively listed by Marc Karren CA LIC # marc@locationmatters.com

2 THE OFFERING Investment Summary 606 Cassidy Street, Oceanside, CA OFFERING PRICE $825,000 CURRENT USE Office / Retail APN TOTAL BUILDING AREA 2,315 SF TENANCY 100% Leased to 4 Tenants OWNERSHIP Fee Simple PRICE PER SQUARE FOOT $356 TOTAL LAND FOOTAGE 6,034 SF LEASE TERMS Highly flexible; 3 of 4 are month-to-month AVERAGE TENANT TENURE 8.5+ Years ZONING CP - Commercial Professional The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase Jimmy Durante Blvd. Suite 205, Del Mar, CA / (858) / LocationMatters.com 2

3 THE OFFERING Investment Highlights 606 Cassidy Street, Oceanside, CA Pride of ownership asset with Cape Cod charm, situated in a prime South Oceanside location Beautifully maintained, corner location on Cassidy Street, just 1-block off of S. Coast Hwy Fully leased investment opportunity, perfect for a first time buyer, or a local investor seeking to diversify with a high quality coastal gem Suitable for an owner-user looking to occupy a portion of the space, while maintaining a steady stream of income from the remaining units Immediate value-add potential through stabilization of the existing month-to-month tenancy to current market rents Smaller-sized units are in high demand in the Coastal Oceanside trade area and command higher rents on a per square foot basis S Coast Hwy SITE Cassidy St. The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase Jimmy Durante Blvd. Suite 205, Del Mar, CA / (858) / LocationMatters.com 3

4 THE PROPERTY Area Map 606 Cassidy Street, Oceanside, CA N SITE S Coast Hwy S Coast Hwy South Oceanside Cassidy St. The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase Jimmy Durante Blvd. Suite 205, Del Mar, CA / (858) / LocationMatters.com 4

5 THE PROPERTY Plans 606 Cassidy Street, Oceanside, CA Floor Plan Unit B 265 SF Unit C 750 SF Unit D 850 SF Porch Upper Floor Unit A 450 SF 2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA / (858) / LocationMatters.com 5

6 THE PROPERTY Plans 606 Cassidy Street, Oceanside, CA Site Plan N WHALEY ST. Storage Shed S Freeman Street Covered Porch Alvarado Street HWY 101 FREEMAN ST. ALVARADO ST. DITMAR ST. CASSIDY ST. 1-Block to Pacific Coast Highway Cassidy Street 2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA / (858) / LocationMatters.com 6

7 THE PROPERTY Financial Overview 606 Cassidy Street, Oceanside, CA Rent Roll IN-PLACE (Modified Gross) MARKET (Gross) Tenant Square Feet Expiration Monthly Rent CAMs Gross Rent PSF Monthly Rent Rent PSF A-Jess Taxes MTM $900 $45 $2.10 $1,125 $2.50 B-Home Start 265 MTM $474 $0 $1.79 $663 $2.50 C-Starting Time MTM $900 $74 $1.30 $1,688 $2.25 D-Touch of Elegance /30/18 $1,836 $204 $2.40 $2,125 $2.50 Total 2,250 $4,110 $324 $1.92 $5,600 $ Tenants pay a portion of the monthly electricity 2 Tenant pays a portion of the water bill ($120/monthly) OPERATING STATEMENT In Place Market Proforma Base Rent $49,320 $67,200 CAM Charges $3,883 $0 Total Gross Income $53,203 $67,200 Expenses 3 Property Taxes 4 $9,089 $9,089 Insurance 2 $1,115 $1,115 Utilities & Maintenance $8,677 $8,677 Total Expenses $18,881 $18,881 Net Operating Income $34,322 $48,319 Asking Price $825,000 Cap Rate 4.2% 5.9% 3 Actual expenses based on a 12-month period ending 7/ Based on a reassessed value upon sale The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we dzo not guarantee it. All information should be verified prior to purchase Jimmy Durante Blvd. Suite 205, Del Mar, CA / (858) / LocationMatters.com 7

8 THE MARKET Surrounding Retail & Restaurants 606 Cassidy Street, Oceanside, CA N S COAST HIGHWAY CALIFORNIA ST MORSE ST WHALEY ST SITE CASSIDY ST Jimmy Durante Blvd. Suite 205, Del Mar, CA / (858) / LocationMatters.com 8

9 THE MARKET Oceanside at a Glance 606 Cassidy Street, Oceanside, CA OCEANSIDE PIER Oceanside represents the only City in the county to have a Pier, Harbor, and Ampitheatre. Stretching out at about 1954 feet, Oceanside s pier is the longest wooden over-water pier on the west coast of the United States. Walk the length of the pier for some truly awe-inspiring views of the downtown coastline. OCEANSIDE HARBOR A little bit of paradise. 950 pleasure boat slips, quaint village shopping at resort-style boutiques, top-name restaurants, cafes al fresco, congenial people, picnicking in mini-parks overlooking the harbor, and strolling or jogging around this idyllic setting. OCEANSIDE FARMERS MARKET Held every Thursday morning, this vibrant market offers a variety of fresh local produce and flowers, and a huge selection of gourmet goodies including artisan baked goods, organic honey, salsa and chips, dips and sauces, and so much more! Shop from among dozens of crafts booths for a selection of handmade goods including jewelry, wearing apparel, soap and lotions, seashells, photography and many others. Corner of Pier View Way and Coast Hwy. SUNSET MARKET This event has been a bright spot in downtown Oceanside since August 2007 and is so much more than a Farmers Market. Thousands of residents and visitors alike gather each week to enjoy the varied hot food offerings, the eclectic merchandise selections, the gourmet packaged food section and the live entertainment Jimmy Durante Blvd. Suite 205, Del Mar, CA / (858) / LocationMatters.com 9

10 THE MARKET Downtown Development Pipeline 606 Cassidy Street, Oceanside, CA N Hyatt Place 127 Rooms & 24 Condos Seacliff Terraces 52 Condos Neptune Way Windward Way N Horne St. N Clementine St. Surfrider Way Sportsfisher Way N Freeman St. North Beach Promenade 357 Parking Spaces, Residential & Retail 1010 Oceanside 124 Rooms, 90 Lofts, Retail Pier View Way Cleveland St. Beach Lofts Office/Retail and 10 Condos N Nevada St. N Ditmar St. Mission Ave GF Properties 66 Units & Retail Topeka St. GF Properties 101 Units & Retail S Ditmar St Alvarado St S Freeman St Morse Street Townhomes 38 Units S Tremont St Whaley St N Coast Highway N Tremont St. N Cleveland St. SITE S Coast Highway Cassidy St GF Properties 35 Units & Retail Meyer St. Marriot 149 Rooms & Retail Meyer St. GF Properties 29 Units & Retail The Strand N Beach Resort Hotel 389 Rooms & Commercial Space Pacific St. The Strand N 218 S. The Strand 2 Condo Units 700 The Strand 17 Condos The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase Jimmy Durante Blvd. Suite 205, Del Mar, CA / (858) / LocationMatters.com 10

11 THE MARKET Competitive Property Set 606 Cassidy Street, Oceanside, CA Wisconsin Ave, Oceanside, CA Clementine Ave, Oceanside, CA S. Coast Highway, Oceanside, CA Sale Date: May 2016 Sale Price: $800,000 Sale Date: March 2016 Sale Price: $1,500,000 Sale Date: April 2015 Sale Price: $815,000 Size: 2,262 SF PSF: $353 Size: 2,100 SF PSF: $714 Size: 2,425 SF PSF: $336 Land Size: 7,351 SF Land Size: 15,493 SF Land Size: 2,565 SF Pier View Way, Oceanside, CA S. Coast Highway, Oceanside, CA S. Coast Highway, Oceanside, CA Sale Date: April 2015 Sale Price: $650,000 Sale Date: March 2015 Sale Price: $620,000 Sale Date: March 2015 Sale Price: $300,000 Size: 2,000 SF PSF: $325 Size: 1,900 SF PSF: $326 Size: 900 SF PSF: $333 Land Size: 2,613 SF Land Size: 4,900 SF Land Size: 3,484 SF 2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA / (858) / LocationMatters.com 11

12 THE MARKET Demographics 606 Cassidy Street, Oceanside, CA MILES 1 MILE Population 10,056 10,426 10,917 Households 4,528 4,636 4,834 3 MILES Avg Household Income N/A $82,814 $91,146 3 MILES MILE location Population 74,938 78,070 81,898 Households 29,494 30,309 31,649 Avg Household Income N/A $77,476 $84,537 5 MILES Population 152, , ,073 Households 56,797 58,777 61,558 Avg Household Income N/A $79,169 $85, Jimmy Durante Blvd. Suite 205, Del Mar, CA / (858) / LocationMatters.com 12